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13 September 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,18227,13745.000.173.43
S&P 5003,0103,0019.000.292.84
NASDAQ8,1948,17025.000.302.22
FTSE 100 Index7,3457,3387.000.091.29
DAX 3012,410051.000.415.62
CAC 40 Index5,6435,61825.000.445.22
Nikkei 225 (Japan)21,76021,598162.000.756.38
HKSE27,08827,159-71.00-0.267.14
SSE Composite Index3,0313,00922.000.758.36
S&P/TSX Composite Index16,64316,61132.000.191.79
NZ 5010,93210,90527.000.250.71
US Volatility (Vix)14
Overseas Market Report

US sharemarkets were firmer on Thursday. The US agreed to delay increased tariffs on billions worth of Chinese goods for two weeks after China exempted tariffs on a basket of U.S. imports and promised to buy more U.S. agricultural products. The Dow Jones rose by 45 points or 0.2% after being up 170 points earlier in the session. The S&P500 index rose by 0.3% and the Nasdaq gained 25 points or 0.3%.

Global oil prices fell by around 1% on Thursday. A meeting of OPEC nations and its allies (known as OPEC+) reinforced its commitment to the production agreement. Saud Arabia indicated that it would keeping cutting production more than agreed. The Brent crude price fell by US43 cents or 0.7% to US$60.38 a barrel. And the US Nymex price fell by US66 cents or 1.2% to US$55.09 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Thursday. Copper and nickel rose by 1.1% but other metals fell by up to 3.7% with tin down the most with aluminium down 1.4%. 

The gold futures price rose by US$4.20 or 0.3% to US$1,507.40 an ounce. The spot gold price was trading near US$1,498 an ounce in late US trade. Iron ore rose by US$3.35 or 3.5% to US$98.85 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent60.3860.81-0.43-0.713.09
Oil - West Texas crude55.2355.090.140.25-3.27
Gold Spot $/OZ1,497.001,499.00-2.00-0.14-0.29
Silver Spot $/OZ18.0018.10-0.10-0.366.33
Iron Ore93.8093.000.800.86-0.28
Thermal Coal Newcastle65.5065.300.200.23-2.67
APAC Hard Coking Coal FOB146.00146.000.000.00-7.59
Aluminium ($US/t)1,7711,797-26.00-1.421.91
Copper Mar-18 ($US/lb)2.622.602.601.001.49
Lead ($US/t)2,0702,090-20.00-0.93-0.35
Nickel ($US/t)18,15317,952201.001.1215.77
Zinc ($US/t)2,3432,360-17.00-0.703.25
Tin ($US/t)17,13917,791-652.00-3.661.59
Uranium ($US/lb)25.0025.000.00-0.80-1.58
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,7666,75214.000.201.77
S&P/ASX 2006,6556,63817.000.251.31
ASX 24 Futures6,670
Australian Market Report

Thursday 12 September - close. The Australian share market has given up most of its early gains, with tech stocks and consumer staples turning around to finish the day in the red. The benchmark S&P/ASX200 index closed on Thursday up just 16.9 points, or 0.25 per cent, to 6,654.9 points, while the broader All Ordinaries was up 13.5 points, or 0.2 per cent, to 6,765.7 points.

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)

  • Invictus has announced that the Zimbabwe Environmental Management Agency (EMA) has approved the Environmental Impact Assessment (EIA) prospectus lodged by its 80% owned subsidiary Geo Associates (Pvt) Ltd
  • The approval of the EIA prospectus enables the Company to carry out the full EIA assessment including field surveys, baseline studies and consultation of the key project stakeholders, local leaders, relevant government ministries and government extension office. The EIA study is being carried out by independent environmental consultants, the Scientific & Industrial Research & Development Centre (SIRDC).
  • An initial consultation with local authorities and traditional leaders and Chiefs from the Muzarabani and Mbire Districts was held at Centenary on 6 September 2019.
  • A press conference was held in Harare yesterday by Minister of Mines Hon. Winston Chitando to announced the commencement of the process. The Minister expressed the Government of Zimbabwe’s support for the Company’s Cabora Bassa Project.
  • MD Scott Macmillan commented, “The Environmental Impact Assessment study is an important undertaking to ensure that we adequately and identify and effectively mitigate any anticipated impacts associated with the exploration program and the development of any discoveries made. The completion and approval of the EIA study will fulfil the environmental approvals required for future exploration drilling and development of any resources by the regulator EMA. We will consult closely with the local community and stakeholders and develop and Environmental Management and Monitoring Plan which will ensure that the mitigation measures are adhered to during the project.”
  • Please contact your adviser or the desk on +61 8 6319 7807 should you wish to discuss further.

Have a question? admin@ashanticapital.com.au

ERA Communications