close
Ashanti Mailing List

Join our distribution list for direct access to exclusive corporate opportunities

* Indicates a required field
Logo
Please enable images to view this content
18 September 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,11127,07734.000.134.73
S&P 5003,0062,9988.000.264.05
NASDAQ8,1868,15432.000.403.67
FTSE 100 Index7,3207,321-1.00-0.012.86
DAX 3012,3730-8.00-0.067.00
CAC 40 Index5,6165,60213.000.245.94
Nikkei 225 (Japan)22,00121,98813.000.067.75
HKSE26,79027,125-334.00-1.234.10
SSE Composite Index2,9783,031-53.00-1.745.46
S&P/TSX Composite Index16,83516,75183.000.504.24
NZ 5010,86610,868-2.00-0.011.98
US Volatility (Vix)14
Overseas Market Report

US sharemarkets rose slightly on Tuesday as the US Federal Reserve commenced its two-day monetary policy meeting. The central bank is largely expected to cut interest rates by 25 basis points. Real estate shares were among the best performers as US Treasury yields dipped. Comments from US President Donald Trump that China was buying US farm products in a "big league" way, also supported sentiment. Trade-sensitive shares of Boeing rose by 1.4%. Shares of Exxon Mobil fell by 0.8% as the oil price dropped. Corning shares fell by 6.1% after the Gorilla glass maker cut its current-quarter display volume forecast. The Dow Jones closed higher by 34 points or 0.1%, the S&P500 index rose by 0.3% and the Nasdaq increased by 32 points or 0.4%. 

Global oil prices fell sharply on Tuesday as Saudi Arabia confirmed that it had partially restored output to its damaged oil plants following drone attacks on the weekend. Saudi Energy Minister Prince Abdulaziz bin Salman said "During the past two days, we managed to contain the damage by recovering half of the production that we had lost during the terrorist attack." The Brent crude price fell by US$4.47 or 6.5% to US$64.55 a barrel. And the US Nymex price fell by US$3.56 or 5.7% to US$59.34 a barrel. 

Base metal prices were weaker on the London Metal Exchange on Tuesday as Chinese home price growth slowed for a third month in August, highlighting demand concerns. Nickel (-2.0%), lead (- 2.0%), tin (-1.7%) and copper (-0.9%) all declined. 

The gold futures price rose by US$1.90 or 0.1% to US$1,513.40 an ounce. The spot gold price was trading near US$1,500 an ounce in late US trade. Iron ore fell by US$1.25 or 1.3% to US$96.50 a tonne after BHP flagged prospects for a continued revival in global supplies.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent64.5569.02-4.47-6.4810.08
Oil - West Texas crude58.8259.34-0.52-0.887.20
Gold Spot $/OZ1,501.001,501.000.100.01-0.79
Silver Spot $/OZ18.0018.000.00-0.025.26
Iron Ore94.9093.901.001.095.01
Thermal Coal Newcastle65.6066.20-0.60-0.83-1.06
APAC Hard Coking Coal FOB141.00150.00-9.00-6.00-9.03
Aluminium ($US/t)1,7601,762-1.00-0.060.06
Copper Mar-18 ($US/lb)2.612.62-1.20-0.440.56
Lead ($US/t)2,0422,084-42.00-2.020.18
Nickel ($US/t)17,11817,461-343.00-1.965.52
Zinc ($US/t)2,3522,369-17.00-0.704.59
Tin ($US/t)16,85917,158-299.00-1.741.56
Uranium ($US/lb)26.0025.000.000.791.39
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8026,78220.000.294.87
S&P/ASX 2006,6956,67322.000.334.52
ASX 24 Futures6,703
Australian Market Report

Tuesday 17 September - close. The Australian share market has recovered from a lacklustre start to post gains for a fifth straight day, with every sector up aside from mining and consumer discretionary stocks. The benchmark S&P/ASX200 index finished Tuesday up 21.8 points, or 0.33 per cent, to 6,695.3 points, while the broader All Ordinaries was up 19.7 points, or 0.29 per cent, to 6,801.7 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 97cps, m.cap A$147.5m with 150.5m SOI, Cash cA$10.2m, Polymetallic Explorer / Developer)

  • ADT have announced that Mr Paul Cronin has been appointed as Managing Director and Chief Executive Officer of the Company.
  • Mr Cronin is currently an Executive Director of Adriatic, one of its founders and a major shareholder. His past experience with the company, its assets and people, make him uniquely qualified to lead Adriatic through the next phases of its development.
  • Adriatic’s Chairman, Peter Bilbe commented: “Following the very successful appointment of Graham Hill as Chief Operating Officer, the Board has taken the view that Paul’s leadership of the company as a Non-Executive Director, and more recently as Executive Director, has demonstrated that he is the best person to lead this Company as MD and CEO, and his interest in Adriatic provides strong alignment with shareholders. Paul’s vision and passion for Adriatic is unrivalled, and the Board is delighted that he has accepted our offer to take a larger full-time role in the company.”

Pensana Metals Ltd: (PM8.ASX, 20cps, m.cap A$29.5m with 147.4m SOI, Cash $4.9m, Rare Earths explorer)

  • Ashanti Capital will host an update call with Paul Atherley, Chairman of Pensana Metals (ASX:PM8) at 3pm AWST on Thursday 19th of September (5pm AEST)
  • Paul will update investors on the current status of the Pre Feasibility Study, his recent European non-deal roadshow marketing campaign and upcoming dual listing on the Mainboard of the London Stock Exchange.
  • Please contact your adviser or the desk on +61 8 6319 7806 should you wish to receive dial in details for the call.


Have a question? admin@ashanticapital.com.au

ERA Communications