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04 November 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,34727,046301.001.112.91
S&P 5003,0673,03829.000.973.89
NASDAQ8,3868,29294.001.135.06
FTSE 100 Index7,3027,24854.000.752.05
DAX 3012,961094.000.737.89
CAC 40 Index5,7625,73032.000.564.98
Nikkei 225 (Japan)22,85122,927-76.00-0.336.73
HKSE27,10126,907194.000.724.96
SSE Composite Index2,9582,92929.000.991.82
S&P/TSX Composite Index16,59416,483111.000.670.88
NZ 5010,79610,76234.000.31-0.89
US Volatility (Vix)12
Overseas Market Report

US sharemarkets posted strong gains on Friday in response to economic data and US-China trade news. The Dow Jones rose by 301 points or 1.1%. The S&P 500 rose 1.0% to record highs. The Nasdaq rose by 94 points or 1.1% to record highs. Over the week the Dow rose 1.4%, the S&P 500 rose 1.5% and the Nasdaq rose by 1.7%. 

Global oil prices rose by 3.5-4.0% on Friday. Traders were more hopeful that a trade deal can be secured between the US and China. There was also encouraging US and Chinese economic data. Brent crude fell by US$2.07 or 3.5% to US$61.69 a barrel. And the US Nymex price rose by US$2.02 or 3.7% to US$56.20 a barrel. Over the week Brent fell by 0.5% and Nymex fell by 0.8%.

Base metal prices rose by up to 2.2% on the London Metal Exchange on Friday with zinc and aluminium up the most while lead and tin were flat. Over the week metals were mixed with aluminium up 4% while lead fell by 3%.

The gold futures price fell by US$3.40 or 0.2% to US$1,511.40 an ounce. Spot gold was trading near US$1,514 an ounce in late US trade. Over the week gold rose by US$6.10 or 0.4%. Iron ore rose by US$1.00 or 1.2% to US$85.00 a tonne. Over the week iron ore fell by US$2.65 or 3%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent61.6959.622.073.474.75
Oil - West Texas crude56.2054.182.023.734.81
Gold Spot $/OZ1,515.001,514.000.200.010.65
Silver Spot $/OZ18.1018.100.000.073.23
Iron Ore84.7084.500.200.21-8.88
Thermal Coal Newcastle67.2066.900.300.52-0.22
APAC Hard Coking Coal FOB137.50143.00-5.50-3.85-9.54
Aluminium ($US/t)1,7911,75437.002.103.99
Copper Mar-18 ($US/lb)2.652.641.500.573.96
Lead ($US/t)2,1702,171-1.00-0.054.04
Nickel ($US/t)16,79916,680119.000.71-3.64
Zinc ($US/t)2,5812,52556.002.2210.56
Tin ($US/t)16,48516,490-5.00-0.031.58
Uranium ($US/lb)24.0024.000.000.84-5.31
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,7796,7736.000.092.14
S&P/ASX 2006,6696,6636.000.092.33
ASX 24 Futures6,671
Australian Market Report

Friday 1 November 2019 - close. The Australian share market has finished marginally higher despite losses by the heavyweight financial sector. The benchmark S&P/ASX200 index finished Friday up 5.7 points, or 0.09 per cent, to 6,669.1 points, while the broader All Ordinaries was up 6.2 points, or 0.09 per cent, to 6,779.1 points.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 20.5cps, m.cap A$8.97m with 44.7m SOI, Cash $2.4m, Copper Developer)

  • CYM have announced results from a regional field mapping and surface sampling programme at the Cue Copper Project's Eelya South prospect, which has previously had minimal drilling activities, located approximately 5 km south of the existing Hollandaire copper mineralisation.
  • High grade surface samples include:
    • 19.7% Cu in surface sample ES13 including 0.9 g/t Au and 32.5 g/t Ag  
    • 14.5% Cu in surface sample ES11 including 2.7 g/t Au and 14.0 g/t Ag  
    • 11.4% Cu in surface sample ES15 including 0.7 g/t Au and 55.5 g/t Ag  
    • 9.6% Cu in surface sample ES12 including 4.1 g/t Au and 47.5 g/t Ag  
    • 9.2% Cu in surface sample ES08 including 0.8 g/t Au and 19.5 g/t Ag
  • The rock chip surface samples and observed surface mineralisation at the Eelya South prospect are very encouraging, consequently a Reverse Circulation ("RC") drilling programme has been accelerated at this prospect. This program will be conducted in conjunction with drilling at the Hollandaire deposit and at the Rapier prospect, during November and December 2019. 
  • Executive Director Barry Cahill commented “We are extremely pleased to report these high-grade copper samples from a shear occurring at surface for more than five hundred metres in length. We look forward to drilling this target, along with other regional prospects and extensions to Hollandaire from mid-November. The results received to date have reinforced the potential copper endowment of the Cue Copper Project.”


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ERA Communications