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27 September 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,89126,971-80.00-0.304.32
S&P 5002,9782,985-7.00-0.243.78
NASDAQ8,0318,077-47.00-0.582.60
FTSE 100 Index7,3517,29061.000.843.69
DAX 3012,289054.000.444.76
CAC 40 Index5,6215,58437.000.664.33
Nikkei 225 (Japan)22,04822,02028.000.137.78
HKSE26,04225,94597.000.371.47
SSE Composite Index2,9292,955-26.00-0.890.93
S&P/TSX Composite Index16,79016,7846.000.043.75
NZ 5010,84810,82326.000.243.19
US Volatility (Vix)16
Overseas Market Report

US sharemarkets fell on Thursday after a report that the US is unlikely to extend a waiver allowing American firms to supply China's Huawei added to impeachment concerns after a whistleblower complaint against President Trump was released. Shares of leisure cruise operator Carnival Corp dropped 8.6% after it cut its full-year profit forecast. Shares of fitness start-up Peloton Interactive were down 11.2% in their market debut. The Dow Jones fell by 79 points or 0.3%. The S&P500 index fell by 0.2% and the Nasdaq was down by 46 points or 0.6%. 

Global oil prices were mixed on Thursday. Crude prices pared earlier losses after the US Department of Defence said it would bolster Saudi Arabia's defences after an attack on the kingdom's oil facilities earlier this month. The Brent crude price rose by US35 cents or 0.6% to US$62.74 a barrel. The US Nymex price fell by US8 cents or 0.1% to US$56.41 a barrel. 

Base metal prices were mostly lower on the London Metal Exchange on Thursday. Tin (-1.5%), copper (-1.1%), nickel (-0.8%) and aluminium (-0.7%) all fell, but zinc lifted by 1.4%.

The gold futures price rose by US$2.90 or 0.2% to US$1,515.20 an ounce. The spot gold price was trading near US$1,505 an ounce in late US trade. Iron ore rose by US$1.60 or 1.8% to US$91.20 a tonne on easing trade concerns.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent62.7462.390.350.566.88
Oil - West Texas crude56.4056.41-0.01-0.022.68
Gold Spot $/OZ1,505.001,505.000.200.01-2.45
Silver Spot $/OZ17.8017.800.00-0.01-2.04
Iron Ore93.3094.20-0.90-0.914.82
Thermal Coal Newcastle65.2065.40-0.30-0.38-0.91
APAC Hard Coking Coal FOB136.00134.002.001.49-8.11
Aluminium ($US/t)1,7171,729-12.00-0.71-1.56
Copper Mar-18 ($US/lb)2.582.58-0.20-0.081.10
Lead ($US/t)2,0842,099-15.00-0.730.65
Nickel ($US/t)17,34017,475-135.00-0.7710.28
Zinc ($US/t)2,3402,30932.001.363.88
Tin ($US/t)16,27016,515-245.00-1.482.29
Uranium ($US/lb)26.0026.000.000.001.58
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,7866,815-29.00-0.433.35
S&P/ASX 2006,6786,710-33.00-0.493.19
ASX 24 Futures6,687
Australian Market Report

Thursday 26 September - close. Gains on Wall Street did not translate to the Aussie market on Thursday with the ASX 200 falling for another session. The benchmark index lost 32.6 points or 0.49 per cent to 6677.6 points and closed near session lows and fell from a 10 point gain early in the day. Weakness in Chinese markets also weighed on the local bourse, which will be closed for a week long national holiday starting next Tuesday (Oct 1).

Ashanti Headlines

Base Resources (BSE.ASX, 26.5cps, m.cap A$309.2m with 1.16b SOI, Cash US$39.2m, Mineral Sands Producer)

  • Ashanti was pleased to host Tim Carstens, Managing Director of Base Resources who presented the full year results for FY19 and FY20 outlook on its Kwale and Toliara Mineral Sands Projects.
  • FY19 full year results highlights include:
    • Revenue up 5% to $209.5m on higher rutile and zircon prices
    • EBITDA increased 4% to $113.5m
    • Net Profit up 15% to $39.2m
    • Net debt free - Kwale Project Debt Facility retired early.
    • Successful transition of mining to Kwale South Dune orebody
    • Toliara Project PFS completed and DFS underway
  • BSE's main priorities for FY20 are:
    • Progress the Toliara Project towards a final investment decision, including completion of the DFS
    • Optimise performance of Kwale Operations on the South Dune orebody
    • Complete mining tenure arrangements and update Kwale South Dune Ore Reserve for mine life extension
  • Production guidance:
    • Rutile - 64,000 - 70,000 tonnes
    • Ilmenite - 315,000 - 350,000 tonnes
    • Zircon - 25,000 to 28,000 tonnes
  • A link to the Toliara Project video here.

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