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12 September 2019 08:00 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
27,137
26,909
228.00
0.85
4.75
S&P 500
3,001
2,979
22.00
0.72
4.06
NASDAQ
8,170
8,084
86.00
1.06
3.89
FTSE 100 Index
7,338
7,268
70.00
0.96
1.54
DAX 30
12,359
12,269
90.00
0.74
5.82
CAC 40 Index
5,618
5,593
25.00
0.44
5.80
Nikkei 225 (Japan)
21,598
21,392
206.00
0.96
4.41
HKSE
27,159
26,684
475.00
1.78
5.17
SSE Composite Index
3,009
3,021
-12.00
-0.41
6.89
S&P/TSX Composite Index
16,611
16,537
74.00
0.45
2.30
NZ 50
10,939
10,925
14.00
0.13
0.61
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.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
60.81
62.38
-1.57
-2.52
3.90
Oil - West Texas crude
56.15
55.75
0.40
0.72
2.22
Gold Spot $/OZ
1,493.00
1,497.00
-4.30
-0.29
-1.21
Silver Spot $/OZ
18.10
18.10
0.00
-0.14
6.00
Iron Ore
93.80
93.00
0.80
0.86
-0.28
Thermal Coal Newcastle
65.40
65.80
-0.50
-0.68
-3.68
APAC Hard Coking Coal FOB
146.00
149.50
-3.50
-2.34
-7.59
Aluminium ($US/t)
1,797
1,795
2.00
0.08
3.14
Copper Mar-18 ($US/lb)
2.60
2.60
0.60
0.25
0.74
Lead ($US/t)
2,090
2,106
-16.00
-0.76
0.42
Nickel ($US/t)
17,952
18,128
-176.00
-0.97
15.72
Zinc ($US/t)
2,360
2,342
18.00
0.77
6.04
Tin ($US/t)
17,791
17,430
361.00
2.07
4.96
Uranium ($US/lb)
25.00
25.00
0.00
0.00
-0.79
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,752
6,728
24.00
0.36
1.23
S&P/ASX 200
6,638
6,614
24.00
0.36
0.72
ASX 24 Futures
6,663
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
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.
While this communication is for informational purposes only and based on the information from sources which are considered reliable. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Ashanti Capital, its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate. Nor does Ashanti Capital accept any responsibility to inform you of any changes.
This document is a private communication to clients and is not intended for public circulation or for the use of any third party, without the prior approval of Ashanti Capital.
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.