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01 August 2019 06:50 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
26,864
27,198
-334.00
-1.23
0.55
S&P 500
2,980
3,013
-33.00
-1.09
0.54
NASDAQ
8,175
8,274
-98.00
-1.19
1.04
FTSE 100 Index
7,587
7,647
-60.00
-0.78
1.19
DAX 30
12,189
0
42.00
0.34
-2.65
CAC 40 Index
5,519
5,511
8.00
0.14
-0.88
Nikkei 225 (Japan)
21,522
21,709
-188.00
-0.86
-0.96
HKSE
27,778
28,146
-369.00
-1.31
-2.68
SSE Composite Index
2,933
2,952
-20.00
-0.67
-3.69
S&P/TSX Composite Index
16,407
16,466
-59.00
-0.36
0.15
NZ 50
10,837
10,858
-21.00
-0.19
3.56
US Volatility (Vix)
16
Overseas Market Report
US sharemarkets fell on Wednesday after US Federal Reserve Chair Jerome Powell dampened future interest rate cut expectations. In his press conference, Chair Powell said that the central bank's rate cut was a "mid-cycle adjustment to policy" rather than "the beginning of a long series of rate cuts." But he added "I didn't say it's just one." Apple reported Tuesday evening earnings per share and revenue for the previous quarter that topped analyst expectations, lifting the stock up by 2.0% on Wednesday. After being down by 478 points, the Dow Jones ended lower by 333 points or 1.2%. The S&P500 was down by 1.1% and the Nasdaq lost 98 points or 1.2%.
Global oil prices rose on Wednesday as US crude inventories fell. US crude stockpiles declined by 8.5 million barrels last week, the EIA said, exceeding analysts' expectations for a decrease of 2.6 million barrels. The Brent crude price rose by US45 cents or 0.7% to US$65.17 a barrel. And the US Nymex price rose by US53 cents or 0.9% to US$58.58 a barrel.
Base metal prices were mixed on the London Metal Exchange on Wednesday. Nickel (+0.9%) and lead (+0.4%) both rose, but zinc (- 1.1%) and tin (-0.8%) fell by the most.
The gold futures price fell by US$3.60 or 0.3% to US$1,426.10 an ounce. The spot gold price was trading near US$1,413 an ounce in late US trade. Iron ore fell by US$2.80 or 2.3% to US$118.35 a tonne due to weak Chinese factory data.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
65.05
64.63
0.42
0.65
-2.25
Oil - West Texas crude
57.91
58.58
-0.67
-1.14
-2.00
Gold Spot $/OZ
1,415.00
1,414.00
1.20
0.09
2.24
Silver Spot $/OZ
16.30
16.30
0.00
0.09
7.42
Iron Ore
117.00
116.20
0.80
0.71
3.92
Thermal Coal Newcastle
69.50
69.70
-0.20
-0.29
-2.05
APAC Hard Coking Coal FOB
155.00
160.00
-5.00
-3.13
-17.55
Aluminium ($US/t)
1,771
1,778
-6.00
-0.35
-0.48
Copper Mar-18 ($US/lb)
2.66
2.67
-0.30
-0.11
-0.62
Lead ($US/t)
1,998
1,990
8.00
0.41
4.25
Nickel ($US/t)
14,452
14,320
132.00
0.92
14.54
Zinc ($US/t)
2,442
2,468
-27.00
-1.07
-4.81
Tin ($US/t)
17,315
17,450
-135.00
-0.77
-8.06
Uranium ($US/lb)
25.00
25.00
0.00
-0.59
2.85
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,897
6,928
-32.00
-0.46
2.45
S&P/ASX 200
6,813
6,845
-33.00
-0.48
2.47
ASX 24 Futures
6,723
Australian Market Report
Wednesday 31 July - close. The Australian share market has pulled back from its record highs despite gains for the energy sector. The benchmark S&P/ASX200 index finished down 32.5 points, or 0.47 per cent, to 6,812.6 points on Wednesday, while the broader All Ordinaries closed down 31.6 points, or 0.46 per cent, to 6,896.7.
Ashanti Headlines
OXIS Energy to Develop Proof-of-Concept Advanced, Lightweight Lithium Sulfur Cells for BYE AEROSPACE
The OXIS Energy Lithium-Sulfur battery cell technology offers significant benefits to aviation and as a result, it is collaborating with Bye Aerospace of Denver, Colorado to produce a common Li-S advanced battery cell for the high voltage battery pack system to be considered for Bye's future electric aircraft. These cells will achieve the higher energy density required for such aircraft. The project will commence in September 2019.
Huw Hampson-Jones, CEO OXIS Energy, said, "Aviation is one of OXIS’ target markets, and in the first instance, Regional Rapid Air Taxi Transportation. A key measure of OXIS’ suitability is to be able to consistently produce cells in excess of 400 Wh/kg, which are already undergoing evaluation. OXIS expects to achieve 500 Wh/kg by early 2020. Our Li-S cells and battery systems are ideally suited for aviation. They are over 50% lighter than the current Li-ion cell and battery systems, with the winning formula of a high energy cell at the power required. The use of the same cell format across batteries will also help our customers to minimise cost and improve serviceability."
George Bye, CEO of Bye Aerospace, said "New Li-S battery cells from Oxis have the potential to greatly enhance the quality, cost and performance of eFlyer 4 and our other future aircraft projects. Our collaboration with OXIS is separate from the current eFlyer 2 agreements and intentions we have with confirmed and our future supply chain partners. Bye Aerospace is working with Oxis on the Li-S battery cell characteristics to significantly improve our eFlyer 4 and future air taxi aircraft designs’ performance. The average age of the global market for Turboprop fleet is 28 years. OXIS has the potential to provide a Li-S battery cell that is truly a game-changer.”
In ground tests in Europe, OXIS has already shown that Li-S has demonstrated a significant improvement in simulated flight duration compared with Lithium NMC; it will now undertake a further series of tests which will provide a robust indication of the OXIS Li-S performance.
Over the next 18 months, the aim is to move towards the production of commercial cells and battery systems in order to meet the volume roll-out criteria set by Bye Aerospace.
Bye Aerospace is conducting a capital raising by way of a Series A2 Preferred Stock Offering to raise US$5m. Please reach out should you want a copy of the term sheet.
Ashanti Capital Pty Ltd, ABN 61 614 939 981, the holder of an Australian Financial Services License (AFSL) number 493204. Any advice included in this document is general advice only, based solely on consideration of the investment or trading merits of the financial product/s alone, without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should consider carefully the appropriateness of the advice in light of his or her financial circumstances and obtain a copy of and consider the Product Disclosure Statement for that product before making any decision.
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Ashanti Capital and/or entities and persons connected with it may have an interest in the securities, the subject of the recommendations set out in this report. In addition, Ashanti Capital and/or its associates will receive commissions on any transaction involving the relevant securities.