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30 October 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,07127,091-19.00-0.070.57
S&P 5003,0373,039-3.00-0.082.02
NASDAQ8,2778,326-49.00-0.593.47
FTSE 100 Index7,3067,331-25.00-0.34-1.38
DAX 3012,9400-2.00-0.024.12
CAC 40 Index5,7405,73110.000.171.10
Nikkei 225 (Japan)22,97422,867107.000.475.60
HKSE26,78726,891-105.00-0.392.66
SSE Composite Index2,9542,980-26.00-0.871.69
S&P/TSX Composite Index16,41816,38831.000.19-1.44
NZ 5010,81510,79421.000.20-1.01
US Volatility (Vix)13
Overseas Market Report

US sharemarkets were mixed on Tuesday. Shares in drug makers rose after earnings results with Merck up 3.5% and Pfizer up 2.5%. Shares in Google parent, Alphabet, fell 2.1% after profit fell short of forecasts. Investors were also cautious ahead of the Federal Reserve rate decision. The Dow Jones fell by 19 points or 0.1%. The S&P500 index fell by 0.1%. The Nasdaq fell by 49 points or 0.6%.

Global oil prices were mixed ahead of weekly US inventory data and the Federal Reserve rate decision. Reuters also reported: "The United States and China were continuing to work on an interim trade agreement, but it may not be completed in time for U.S. and Chinese leaders to sign it in Chile next month, a US administration official said." Russia's deputy energy minister said it was too early to speculate about deeper production cuts by OPEC and its allies. Brent crude rose by US2 cents to US$61.59 a barrel. And the US Nymex price fell by US27 cents or 0.5% to US$55.54 a barrel. 

Base metal prices were firmer by up to 1.5% on the London Metal Exchange on Tuesday with lead up the most from aluminium and nickel. But the exception was zinc, down 0.1%.

The gold futures price fell by US$14.60 or 1.0% to US$1,490.70 an ounce. Spot gold was trading near US$1,488 an ounce in late US trade. Iron ore was fell by US$2.15 or 2.5% to US$85.50 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent61.5961.570.020.03-0.52
Oil - West Texas crude55.4855.54-0.06-0.112.61
Gold Spot $/OZ1,488.001,488.00-0.10-0.011.03
Silver Spot $/OZ17.8017.800.00-0.064.74
Iron Ore85.8085.800.000.00-7.46
Thermal Coal Newcastle67.0066.800.100.152.14
APAC Hard Coking Coal FOB144.50144.500.000.005.47
Aluminium ($US/t)1,7521,73022.001.262.02
Copper Mar-18 ($US/lb)2.692.690.100.044.42
Lead ($US/t)2,2862,25433.001.4511.16
Nickel ($US/t)16,86516,666199.001.19-2.73
Zinc ($US/t)2,5872,590-3.00-0.1210.11
Tin ($US/t)16,82516,690136.000.814.45
Uranium ($US/lb)24.0024.000.00-0.62-6.46
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8486,8436.000.090.70
S&P/ASX 2006,7456,7415.000.070.85
ASX 24 Futures6,700
Australian Market Report

Tuesday 29 October 2019 - close. It's been a seventh day of gains for the Australian share market but they have again been modest. The benchmark S&P/ASX200 index finished Tuesday up 4.7 points, or 0.07 per cent, to 6,745.4 points, while the broader All Ordinaries closed up six points, or 0.09 per cent, to 6,848.5 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 105.5cps, m.cap A$181.23m with 172.6m SOI, Cash cA$35m (following placement), Polymetallic Explorer / Developer)

  • ADT has announced a successful $25m two-tranche placement at an issue price of A$1.00 per share to institutional investors and its existing shareholder, Sandfire Resources NL (ASX: SFR), who have subscribed for their pro-rata interest in the placement under the terms of the 2018 Collaboration & Strategic Partnership Deed.
  • The Placement was well supported by a number of high quality existing and new institutional investors
  • Placement funds raised will be used to expedite aggressive exploration & development activities at the Vareš Project with the Company now fully funded through to completion of a Bankable Feasibility Study
  • Adriatic is pursuing a LSE listing in Q4 2019 as it has received continued interest from investors in the United Kingdom and Europe and, given the location of the Company’s assets, it believes that these markets have the potential to provide support to Adriatic as it continues to progress the Vareš Project.
  • Managing Director and CEO Paul Cronin commented: “We are very pleased with the support for the Placement shown by our existing shareholders and new investors across Australia, Asia, Europe and North America. The Placement leaves us in a very strong financial position and will allow the Company to progress work on the Vareš Project up to a construction decision, including the completion of a Bankable Feasibility Study, without additional funding. In pursuing the LSE Listing we hope to foster the interest we have received to date from investors in the United Kingdom and Europe and facilitate the participation of new investors in what is shaping up to be a world class project.”
  • Ashanti Capital acted as Co-Manager to the Placement

Have a question? admin@ashanticapital.com.au

ERA Communications