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22 July 2019 07:54 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,15427,223-69.00-0.251.63
S&P 5002,9772,995-19.00-0.620.89
NASDAQ8,1468,207-61.00-0.741.43
FTSE 100 Index7,5097,49316.000.211.37
DAX 3012,26012,22832.000.26-0.65
CAC 40 Index5,5525,5512.000.030.43
Nikkei 225 (Japan)21,46721,046421.002.000.98
HKSE28,76528,462304.001.071.02
SSE Composite Index2,9242,90123.000.79-2.59
S&P/TSX Composite Index16,48616,494-8.00-0.05-0.24
NZ 5010,76110,7537.000.074.20
US Volatility (Vix)14
Overseas Market Report

US sharemarkets fell on Friday. Shares in Microsoft rose 0.1% after investors digested its earnings result. Shares of American Express fell 2.8% after it warned of higher operating costs. The Dow Jones fell by 69 points or 0.3%. The S&P500 lost 0.6% and the Nasdaq fell by 61 points or 0.7%. Over the week the Dow Jones lost 0.6% and both the S&P 500 index and the Nasdaq fell by 1.2%. 

Global oil prices rose on Friday. Tensions between the US and Iran offset worries about slower global crude demand. Reuters reported Britain as saying that "Iran seized two oil tankers in the Gulf on Friday and told Tehran to return the vessels or face consequences." Also the number of oil rigs drilling for oil in the US fell by 5 to 779 in the past week - the lowest since February 2018. The Brent crude price rose by US54 cents or 0.9% to US$62.47 a barrel. And the US Nymex price rose by US33 cents or 0.6% to US$55.63 a barrel. Over the week Brent fell by US$4.25 a barrel or 6.4% and Nymex fell by US$4.58 or 7.6%.

Base metal prices were lower on the London Metal Exchange on Friday by up to 1.7% with zinc down the most. But copper bucked the trend, up 1.4%. Over the week nickel surged 9.5% and lead lifted 3.6% but tin lost 2.1% and zinc lost 1.4%.

The gold futures price fell by US$1.40 an ounce or 0.1% to US$1,426.70 an ounce. The spot gold price was trading near US$1,425 an ounce in late US trade. Over the week gold rose US$14.50 an ounce or 1%. Iron ore rose by US$2.35 on Friday or 2.0% to US$121.85 a tonne. Over the week iron ore rose US$3.30 or 2.8%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent63.2462.470.771.23-3.01
Oil - West Texas crude56.0955.630.460.83-2.33
Gold Spot $/OZ1,426.001,425.000.400.031.87
Silver Spot $/OZ16.2016.200.000.105.75
Iron Ore117.60117.600.000.0311.40
Thermal Coal Newcastle74.1073.800.300.344.96
APAC Hard Coking Coal FOB174.00179.00-5.00-2.79-9.61
Aluminium ($US/t)1,8241,836-12.00-0.653.78
Copper Mar-18 ($US/lb)2.742.704.101.502.39
Lead ($US/t)2,0442,048-4.00-0.218.00
Nickel ($US/t)14,68014,817-137.00-0.9222.12
Zinc ($US/t)2,4142,456-43.00-1.73-6.98
Tin ($US/t)17,77617,811-35.00-0.20-6.22
Uranium ($US/lb)25.0026.00-1.00-1.953.07
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,7866,73551.000.750.77
S&P/ASX 2006,7006,64951.000.770.75
ASX 24 Futures6,616
Australian Market Report

Friday 19 July - close. The Australian sharemarket has finished a choppy week in positive territory, boosted by gains in the Financial, Materials, IT and Utilities sectors. The ASX 200 (XJO) ended the session up 51 points or 0.8% to 6,700. Over the week, the index edged higher by 0.1%.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 113cps, m.cap A$172.6m with 150.5m SOI, Cash cA$12m, Polymetallic Explorer / Developer)

Ashanti is pleased to be road-showing Adriatic Metals (ASX.ADT) in Perth (13th August), Sydney (14th August) and Melbourne (15th August)

Please be in contact with your adviser or call +61 8 6319 7802 if you would like to arrange a meeting ASAP. 

  • ADT remains one of our preferred mining developers and has been one of the top performing stocks on the ASX over the last 12 months. Highlights include;
    • Large land position in a frontier mining jurisdiction offers great potential for additional resource growth
    • Underlying project fundamentals support a 7+ year mine life at robust margins using spot prices
    • Steady news flow is expected until the end of the year
      • 5 rigs currently drilling on site
      • Maiden JORC Resource for the Rupice deposit and inclusion of precious metals in the historical Veovaca Resource expected in late July / early August
      • Metallurgical test work for Veovaca & Rupice ongoing with early outcomes expected in October
      • This technical work will feed into a scoping study due out year end
      • Bosnian Govt. expected to grant Precious Metals licenses before year end
      • Focus on new target areas to search for possible repetitions of the mineralisation a Rupice, as well as specific drill targets at Jurasevic-Brestic and Borovica prospects
  • Sandfire Resources NL (SFR.ASX, MCap $1.1B)  recently increased their stake to 11.3% through a series of on market purchases. 


Have a question? admin@ashanticapital.com.au

ERA Communications