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05 November 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,46227,347115.000.423.34
S&P 5003,0783,06711.000.374.28
NASDAQ8,4338,38647.000.565.65
FTSE 100 Index7,3707,30267.000.923.00
DAX 3013,1360175.001.359.35
CAC 40 Index5,8245,76262.001.086.12
Nikkei 225 (Japan)22,85122,927-76.00-0.336.73
HKSE27,54727,101447.001.656.69
SSE Composite Index2,9752,95817.000.582.42
S&P/TSX Composite Index16,67016,59476.000.461.34
NZ 5010,84410,80242.000.39-0.45
US Volatility (Vix)13
Overseas Market Report

Major US sharemarket indexes finished at record highs on Monday with investors hopeful about US-China trade negotiations. Technology and energy stocks led the way. With just over an hour of trade to go the Dow Jones was up by 115 points or 0.4% to record highs. The S&P 500 was up by 0.4% to record highs and the Nasdaq rose by 47 points or 0.6% to record highs. 

Global oil prices rose by around 0.7% on Monday. Both economic data and US-China trade news are boosting optimism about future global oil demand. Brent crude rose by US44 cents or 0.7% to US$62.13 a barrel. And the US Nymex price rose by US34 cents or 0.6% to US$56.54 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Monday. Nickel lost 2.4% and tin lost 0.5%. Lead rose by just 0.1% but other metals rose up to 1.7%, led by aluminium.

The gold futures price fell by US30 cents to US$1,511.10 an ounce. Spot gold was trading near US$1,509 an ounce in late US trade. Iron ore fell by US$2.30 or 2.7% to US$82.70 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent62.1861.690.490.796.53
Oil - West Texas crude56.5456.200.340.607.06
Gold Spot $/OZ1,509.001,510.00-0.50-0.030.30
Silver Spot $/OZ18.1018.100.000.022.87
Iron Ore85.2084.700.500.54-8.39
Thermal Coal Newcastle67.4067.200.100.153.30
APAC Hard Coking Coal FOB137.50143.00-5.50-3.85-9.54
Aluminium ($US/t)1,8211,79131.001.706.63
Copper Mar-18 ($US/lb)2.672.651.800.684.23
Lead ($US/t)2,1722,1701.000.060.42
Nickel ($US/t)16,38916,799-410.00-2.44-8.47
Zinc ($US/t)2,6012,58120.000.7711.32
Tin ($US/t)16,39816,485-87.00-0.53-0.30
Uranium ($US/lb)24.0024.000.000.62-4.16
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8006,77921.000.312.46
S&P/ASX 2006,6876,66918.000.272.61
ASX 24 Futures6,702
Australian Market Report

Monday 4 November 2019 - close. The Australian share market has closed higher for the ninth time in eleven days, with a big day for the mining sector outweighing a slide in major bank stocks. The benchmark S&P/ASX200 index closed on Monday up 17.8 points, or 0.27 per cent, to 6,686.9 points, while the broader All Ordinaries finished up 20.7 points, or 0.31 per cent, to 6,799.8 points.

Ashanti Headlines

Base Resources (BSE.ASX, 23cps, m.cap A$275.3m with 1.16b SOI, Cash US$39.2m, Mineral Sands Producer)

Ashanti is pleased to be road-showing Base Resources Ltd (ASX.BSE) in Hong Kong on 14th / 15th November.

Please be in contact with your adviser or call +61 8 6319 7802 if you would like to arrange a meeting ASAP. 

  • Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar.

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.


Have a question? admin@ashanticapital.com.au

ERA Communications