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22 August 2019 08:24 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,20325,962240.000.93-3.57
S&P 5002,9242,90124.000.82-2.03
NASDAQ8,0207,94972.000.90-2.24
FTSE 100 Index7,2047,12579.001.11-4.14
DAX 3011,80311,651152.001.30-3.96
CAC 40 Index5,4355,34591.001.70-2.36
Nikkei 225 (Japan)20,70220,61983.000.40-3.34
HKSE26,27026,23239.000.15-7.41
SSE Composite Index2,8802,8800.000.01-0.23
S&P/TSX Composite Index16,30916,21396.000.59-1.27
NZ 5010,73910,70930.000.28-0.79
US Volatility (Vix)16
Overseas Market Report

US sharemarkets rose on Wednesday. Shares in retailers rose after earnings results. Shares in Target rose by 20% with Lowes up 10.3%. Investors digested the latest information from the Federal Reserve and await a speech by Fed chief Jerome Powell on Friday. The Dow Jones rose by 240 points or 0.9% with the S&P500 up by 0.8%, while the Nasdaq gained almost 72 points or 0.9%. 

Global oil prices were mixed on Wednesday. Weighing on US prices was data showing bigger-than-expected increases in US gasoline and distillate stocks in the past week. But crude inventories fell by 2.7 million barrels (forecast 1.9 million drawdown). The Brent crude price rose by US27 cents or 0.4% to US$60.30 a barrel. But the US Nymex price fell by US45 cents or 0.8% to US$55.68 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Wednesday. Tin, aluminium and nickel fell up to 1.6% with tin leading the losses. Other metals rose up to 3.3% with zinc up the most.

The gold futures price was unchanged at US$1,515.70 an ounce. The spot gold price was trading near US$1,502 an ounce in late US trade. Iron ore fell by US$5.45 or 6.2% to US$83.00 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent60.5460.300.240.40-4.30
Oil - West Texas crude56.0255.680.340.61-0.36
Gold Spot $/OZ1,503.001,503.000.300.025.48
Silver Spot $/OZ17.1017.100.000.144.76
Iron Ore91.7092.20-0.50-0.54-22.49
Thermal Coal Newcastle65.5066.00-0.50-0.76-11.67
APAC Hard Coking Coal FOB151.00157.50-6.50-4.13-13.22
Aluminium ($US/t)1,7501,752-1.00-0.07-4.03
Copper Mar-18 ($US/lb)2.582.59-0.30-0.12-4.86
Lead ($US/t)2,0832,05826.001.251.91
Nickel ($US/t)15,85715,878-22.00-0.148.02
Zinc ($US/t)2,2902,21674.003.34-5.10
Tin ($US/t)16,22216,480-258.00-1.57-8.74
Uranium ($US/lb)25.0025.000.000.400.40
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,6026,57329.000.44-2.65
S&P/ASX 2006,5096,48326.000.40-2.73
ASX 24 Futures6,469
Australian Market Report

Wednesday 21 August - close. Australian shares reversed course on Wednesday, wiping some of its gains from the previous session as growth stock earnings disappointed expectations. The S&P/ASX 200 slid 0.9 per cent to close at 6483.3, a fall of 61.7 points, while the broader All Ordinaries lost 54.8 points or 0.8 per cent, to finish at 6572.6.

Ashanti Headlines

Quantum Signs for 26 Electric Airplanes from Bye Aerospace

DENVER, Col. – August 21, 2019 – Bye Aerospace announced that Quantum Air has signed a purchase deposit agreement for 22 of its all-electric four-seat eFlyer 4s and 2 two-seat eFlyer 2 airplanes. The company also signed a comprehensive agreement that includes two future advanced aircraft under development from Bye Aerospace.

George E. Bye, CEO of Bye Aerospace, welcomed Los Angeles-based Quantum Air to the growing list of Bye Aerospace customers. “One of Quantum Air’s goals is to disrupt aviation, providing more accessible, cost-efficient, high speed air transportation solutions — including FAA Part 135 on-demand air taxi travel— to help alleviate the noise and CO2 emissions challenges that accompany traditional internal combustion aircraft,” he said. 

Quantum’s new fleet of eFlyers cements its status as the first and leading air taxi service in Los Angeles. “With the arrival of electric aircraft, we are entering a new Golden Age in aviation,” said Tony Thompson, Quantum CEO. “Since the dawn of flight, point to point air travel has been a luxury available only to a privileged few. Quantum’s groundbreaking air taxi service will finally make point to point air travel widely available.” 

“The future has arrived,” added Scott Akina, Quantum’s Vice President and Chief Pilot. “By electrifying aviation, Quantum will ignite urban and regional mobility. Electric aircraft are safer, quieter, and more efficient than legacy aircraft, and they are more fun, more comfortable, and do not pollute.”

In addition, Bye will join Quantum’s board of advisers. According to Thompson: “With George Bye on our board of advisers, Quantum will tightly integrate with Bye Aerospace, producing a superior flight experience for our customers.” 

Bye Aerospace is developing the FAA FAR 23-certified family of eFlyer general aviation aircraft, starting with the eFlyer 2, for the flight training mission. All of Bye Aerospace’s current and future families of aircraft, including the eFlyer 2 and the eFlyer 4, feature exemplary engineering, research, and electric aircraft solutions producing no CO2, and are designed to answer compelling market needs. These include significantly lower operating costs, zero emissions, and decreased noise.


Have a question? admin@ashanticapital.com.au

ERA Communications