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12 September 2019 08:00 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,13726,909228.000.854.75
S&P 5003,0012,97922.000.724.06
NASDAQ8,1708,08486.001.063.89
FTSE 100 Index7,3387,26870.000.961.54
DAX 3012,35912,26990.000.745.82
CAC 40 Index5,6185,59325.000.445.80
Nikkei 225 (Japan)21,59821,392206.000.964.41
HKSE27,15926,684475.001.785.17
SSE Composite Index3,0093,021-12.00-0.416.89
S&P/TSX Composite Index16,61116,53774.000.452.30
NZ 5010,93910,92514.000.130.61
US Volatility (Vix)15
Overseas Market Report

US sharemarkets were firmer on Wednesday. Investors were encouraged by China announcing tariff exemptions on US goods. Shares in Apple rose by 3.2% after the tech giant unveiled new products on Tuesday. US President Trump called on the Federal Reserve to slash rates into negative territory. The Dow Jones rose by 228 points or 0.9% and ended trade at session highs. The S&P500 index rose by 0.7% and the Nasdaq gained 85.5 points or 1.1%. 

Global oil prices fell by 2.5-3.0% on Wednesday. Investors reacted to a media report that suggested that US President Trump discussed an easing of oil sanctions on Iran to secure a meeting with the Iranian leader. Data showed that US crude oil production hit a record 12.4 million barrels per day in the past week. The Brent crude price fell by US$1.57 or 2.5% to US$60.81 a barrel. And the US Nymex price fell by US$1.65 or 2.9% to US$55.75 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Wednesday. Copper, lead and nickel fell by around 1% and other metals rose up to 2.1% with tin up the most. 

The gold futures price rose by US$4.00 or 0.3% to US$1,503.20 an ounce. The spot gold price was trading near US$1,496 an ounce in late US trade. Iron ore rose by US$2.30 or 2.5% to US$95.50 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent60.8162.38-1.57-2.523.90
Oil - West Texas crude56.1555.750.400.722.22
Gold Spot $/OZ1,493.001,497.00-4.30-0.29-1.21
Silver Spot $/OZ18.1018.100.00-0.146.00
Iron Ore93.8093.000.800.86-0.28
Thermal Coal Newcastle65.4065.80-0.50-0.68-3.68
APAC Hard Coking Coal FOB146.00149.50-3.50-2.34-7.59
Aluminium ($US/t)1,7971,7952.000.083.14
Copper Mar-18 ($US/lb)2.602.600.600.250.74
Lead ($US/t)2,0902,106-16.00-0.760.42
Nickel ($US/t)17,95218,128-176.00-0.9715.72
Zinc ($US/t)2,3602,34218.000.776.04
Tin ($US/t)17,79117,430361.002.074.96
Uranium ($US/lb)25.0025.000.000.00-0.79
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,7526,72824.000.361.23
S&P/ASX 2006,6386,61424.000.360.72
ASX 24 Futures6,663
Australian Market Report

Wednesday 11 September - close. The Australian share market has ended modestly higher as gains by mining stocks and the banking sector outweighed declines by consumer staples and tech stocks. The benchmark S&P/ASX200 index finished Wednesday up 23.9 points, or 0.36 per cent, to 6,638 points, while the broader All Ordinaries closed up 24.1 points, or 0.36 per cent, to 6752.1.

Ashanti Headlines

Invictus Energy Limited: (IVZ.ASX, 3.8 cps, m.cap A$14.9m with 365.7m SOI, Cash ~$2.2m, O&G Explorer) 

Ashanti is pleased to be road-showing Invictus Energy (ASX.IVZ) in Perth (27th September), Sydney (24th & 25th September), Melbourne (26th September) and Brisbane (23rd September)

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

  • Invictus Energy Ltd is an upstream E&P company (ASX: IVZ) focused on oil and gas in Sub Saharan Africa. Invictus is the 80% owner and operator of the Cabora Bassa Project containing SG 4571 exploration licence in the Cabora Bassa Basin in northern Zimbabwe
  • SG 4571 licence contains potentially the largest, seismically defined, undrilled structure onshore Africa (200km2 under closure)
    • 8.2 Tcf + 249 million bbls# of conventional gas-condensate in Mzarabani Prospect alone
    • Independently assessed by Getech Group plc
  • New geological and geophysical work has de-risked the acreage - ingredients for working petroleum system present in the basin
    • Source, reservoir and seal all present and sampled at outcrop to west of SG 4571 and mapped into the subsurface
    • Lower Triassic source rock, key in large scale successful Karoo plays is present in the Cabora Bassa Basin
  • Substantial local and regional gas and liquids market that is supply constrained
    • Gas Sale MOU signed with Sable Chemicals fertilizer manufacturer to supply 70 mmscf/d for 20 years (510 Bcf total)
    • Can underpin the development and monetisation of even a modest discovery
  • Invictus is seeking to develop potential regional markets in addition to significant local natural gas demand in Zimbabwe
  • A farmout process is currently underway to select a partner

Have a question? admin@ashanticapital.com.au

ERA Communications