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25 September 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average26,80826,950-142.00-0.534.60
S&P 5002,9672,992-25.00-0.844.20
FTSE 100 Index7,2917,326-35.00-0.472.77
DAX 3012,3070-35.00-0.295.99
CAC 40 Index5,6285,631-2.00-0.045.66
Nikkei 225 (Japan)22,09922,07920.000.096.70
SSE Composite Index2,9852,9778.000.283.03
S&P/TSX Composite Index16,79816,867-69.00-0.414.74
NZ 5010,84710,859-11.00-0.102.12
US Volatility (Vix)17
Overseas Market Report

US sharemarkets were lower on Tuesday after some Democrats pushed for the impeachment of US President Trump. Reuters reported that "stocks pared losses after Trump, in a tweet, said his administration would release a complete transcript of a call with Ukrainian President Volodymyr Zelenskiy that is at the centre of the controversy". Economic data was softer than expected. The Dow Jones fell by 142 points or 0.5%. The S&P500 index fell by 0.8% and the Nasdaq fell by 119 points or 1.5%. 

Global oil prices fell by around 2.5% on Tuesday on continued uncertainty that the US can conclude a trade deal with China. Also political uncertainty in the US weighed on investor sentiment. Weaker-than-expected US economic data also weighed on oil prices. The Brent crude price fell by US$1.67 or 2.6% to US$63.10 a barrel. The US Nymex price fell by US$1.35 or 2.3% to US$57.29 a barrel. 

Base metal prices fell by between 0.2-1.9% on the London Metal Exchange on Tuesday. Tin fell the least and zinc fell the most. But copper bucked the trend, up by 0.1%.

The gold futures price rose by US$8.70 or 0.6% to US$1,540.20 an ounce. The spot gold price was trading near US$1,532 an ounce in late US trade. Iron ore rose by US$4.05 or 4.3% to US$89.60 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent63.1064.77-1.67-2.586.34
Oil - West Texas crude56.8857.29-0.41-0.725.00
Gold Spot $/OZ1,531.001,532.00-0.40-0.030.30
Silver Spot $/OZ18.6018.600.000.046.83
Iron Ore95.8096.60-0.80-0.783.43
Thermal Coal Newcastle65.2065.30-0.10-0.23-0.84
APAC Hard Coking Coal FOB128.00133.00-5.00-3.76-13.51
Aluminium ($US/t)1,7401,765-25.00-1.40-0.24
Copper Mar-18 ($US/lb)2.592.59-0.30-0.102.25
Lead ($US/t)2,0432,071-29.00-1.38-1.32
Nickel ($US/t)17,29517,595-300.00-1.7110.00
Zinc ($US/t)2,2972,342-45.00-1.931.94
Tin ($US/t)16,48316,524-41.00-0.253.63
Uranium ($US/lb)26.0026.000.00-0.191.58
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8576,861-4.00-0.073.66
S&P/ASX 2006,7496,750-1.00-0.013.46
ASX 24 Futures6,663
Australian Market Report

Tuesday 24 September - close. ASX falls as resource stocks weigh: Australian shares closed slightly lower on Tuesday, following a subdued session that saw the market trade near flat for most of the day. The S&P/ASX 200 Index closed the session just 0.8 points, or 0.01 per cent lower at 6748.9, with trading volumes well below average.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 98cps, m.cap A$147.5m with 150.5m SOI, Cash cA$10.2m, Polymetallic Explorer / Developer)

  • ADT has announced the results from a preliminary metallurgical test work programme on samples of ores from the Rupice deposit and Veovaca deposit, both of which are located close to the mining town of Vares in Bosnia and Herzegovina.
  • Expected payability adjusted recoveries from all concentrates for Rupice are:
  • Excellent recovery of precious metals and copper at Rupice with further metallurgical optimisation test-work underway.
  • Current test-work confirms that the same process plant can process both Rupice and Veovaca ores.
  • Adriatic’s Managing Director and CEO, Paul Cronin commented: “The recent results from the metallurgical test work programmes for Rupice and Veovaca demonstrate excellent recoveries. All Rupice concentrates exceed current specifications at a range of European and Chinese smelters, and in the case of barite, exceeding the API specification. Our ongoing work on metallurgy has been conducted in conjunction with marketing studies with the aim to maximise net smelter revenues against competitor products being sourced by end users. These are excellent initial results, and I am confident that results can be further optimised as we undertake more detailed test work to support the potential Definitive Feasibility Study. In the meantime however, we expect these results will have a significantly positive impact on the potential economics of the project, currently being evaluated in our upcoming Scoping Study”
  • Please contact your adviser or the desk on +61 8 6319 7807 should you wish to discuss further.

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