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25 July 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average27,27027,349-79.00-0.292.72
S&P 5003,0203,00514.000.473.50
FTSE 100 Index7,5017,557-55.00-0.731.06
DAX 3012,523032.000.262.41
CAC 40 Index5,6065,618-12.00-0.221.66
Nikkei 225 (Japan)21,71021,62189.000.412.43
SSE Composite Index2,9232,90023.000.80-1.97
S&P/TSX Composite Index16,61216,57339.000.241.47
NZ 5010,84710,81335.000.324.12
US Volatility (Vix)12
Overseas Market Report

US sharemarkets were mixed as investors digested earnings reports. Weighing on the Dow Jones index was a 3.1% fall in Boeing shares and a 4.5% fall in shares of Caterpillar after both released earnings results. Technology stocks out-performed. Shares of Texas Instruments rose 7.4%. The Dow Jones fell by 79 points or 0.3%. But the S&P500 lifted by 0.5% to record highs and the Nasdaq gained 70 points or 0.9% to a record high.

Global oil prices fell by over 1% on Wednesday in response to worries about the softness data of global oil demand. The Energy Information Administration said that US crude stockpiles fell by 10.8 million barrels in the past week, against forecasts for a fall of 4 million barrels. Prices didn't rise in reaction with traders saying the drawdown was probably largely due to Hurricane Barry. The Brent crude price fell by US65 cents or 1.0% to US$63.18 a barrel. And the US Nymex price fell by US89 cents or 1.6% to US$55.88 a barrel. 

Base metal prices were higher by 0.5-2.8% on the London Metal Exchange on Wednesday. Lead rose the most with aluminium up the least. 

The gold futures price rose by US$1.90 or 0.1% to US$1,423.60 an ounce. The spot gold price was trading near US$1,425 an ounce in late US trade. Iron ore fell by US$3.00 or 2.5% to US$115.10 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent63.1863.83-0.65-1.02-2.59
Oil - West Texas crude55.9555.880.070.13-3.25
Gold Spot $/OZ1,426.001,426.000.500.030.20
Silver Spot $/OZ16.6016.600.000.138.13
Iron Ore117.10117.
Thermal Coal Newcastle74.2073.800.400.475.10
APAC Hard Coking Coal FOB171.00172.00-1.00-0.58-11.17
Aluminium ($US/t)1,7981,78810.000.551.65
Copper Mar-18 ($US/lb)2.702.691.000.37-0.06
Lead ($US/t)2,0862,03056.002.769.41
Nickel ($US/t)14,50814,131377.002.6720.20
Zinc ($US/t)2,4562,43125.001.01-6.03
Tin ($US/t)17,93517,665270.001.53-6.07
Uranium ($US/lb)26.0026.000.000.784.05
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8626,81250.000.731.90
S&P/ASX 2006,7776,72552.000.771.78
ASX 24 Futures6,716
Australian Market Report

Wednesday 25 July - close.  Australian shares rose firmly on Wednesday as a flurry of positive news pushed the All Ordinaries to an all-time closing high and the S&P/ASX 200 Index to a post-GFC high. The S&P/ASX 200 Index ended the session 52.1 points, or 0.8 per cent, higher at 6776.7 while the broader All Ordinaries rose 49.9 points, or 0.7 per cent, to 6862.4, surpassing its previous closing high of 6853.6 set on November 1, 2007.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 20cps, m.cap A$8.75m with 44.7m SOI, Cash $3.6m, Copper Developer)

  • Cyprium has released its quarterly activities report for the June Quarter. Highlights for the Cue Copper Project include:
    • Approval for Cue Copper Project drilling programme received from the WA Department of Mines in early July 2019  
    • Hollandaire extension drilling commenced on 17 July 2019 with a Phase 1 Programme of over 4,000 metres of Reverse Circulation drilling  
    • Hollandaire metallurgical drilling to commence in late July 2019 with a 330 metre Diamond Drilling Programme
    • Executive Director, Barry Cahill commented: “The incoming Board and management are excited to complete the Cyprium Transaction, begin drilling and metallurgical test-work at Hollandaire during the quarter, while continuing to assess a range of opportunities in the Australian copper space. The Company is now well capitalised to execute our strategy with approximately $3.6 million in cash and no debt.”
  • Please see link to full announcement here
  • Please contact your adviser or the desk on +61 8 6319 7807 should you wish to discuss further.

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