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11 November 2019 07:56 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,68127,6756.000.023.22
S&P 5003,0933,0858.000.264.13
NASDAQ8,4758,43541.000.485.19
FTSE 100 Index7,3597,406-47.00-0.631.55
DAX 3013,22913,289-61.00-0.465.73
CAC 40 Index5,8905,891-1.00-0.023.96
Nikkei 225 (Japan)23,39223,33062.000.267.31
HKSE27,65127,847-196.00-0.705.10
SSE Composite Index2,9642,979-15.00-0.49-0.32
S&P/TSX Composite Index16,87716,80672.000.432.82
NZ 5010,88710,87710.000.09-0.34
US Volatility (Vix)12
Overseas Market Report

US sharemarkets lifted to record highs on Friday as investors brushed aside trade concerns. Shares in Walt Disney rose 3.8% a day after issuing quarterly results. Sentiment continues to be supported by positive earnings results. At the close of trade, the Dow Jones was up by 6 points or less than 0.1%. The S&P500 lifted by 0.3% and the Nasdaq was up by 41 points or 0.5%. Over the week the Dow rose 1.2%, the S&P500 index rose 0.8% and the Nasdaq rose by 1.1%.

Global oil prices rose modestly on Friday. Supporting prices was data showing that US oil rigs in operation fell by 7 last week to 684 - the third weekly fall. Chinese customs data showed oil imports rose 11.5% in the year to October to record highs. Brent crude rose by US22 cents or 0.4% to US$62.51 a barrel. And the US Nymex price rose by US9 cents or 0.2% to US$57.24 a barrel. Over the week Brent rose by 1.3% and Nymex rose by 1.9%.

Base metal prices were lower by up to 0.9% on the London Metal Exchange on Friday with copper down the most. But tin rose by 0.8%. Over the week metals were mixed. Aluminium, copper and tin rose 1.2-1.5% and other metals fell 2.2-3.6%

The gold futures price fell by US$3.50 or 0.2% to US$1,462.90 an ounce. Spot gold was trading near US$1,458 an ounce in late US trade. Over the week gold fell by US$48.50 or 3.2%. Iron ore fell by US$2.60 or 3.2% to US$79.90 a tonne. Over the week iron ore fell US$5.10 or 6%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent62.3962.51-0.12-0.193.11
Oil - West Texas crude57.1357.24-0.11-0.194.44
Gold Spot $/OZ1,461.001,459.002.200.15-1.88
Silver Spot $/OZ16.8016.800.000.27-4.07
Iron Ore82.4082.90-0.40-0.53-11.34
Thermal Coal Newcastle66.8066.500.300.53-0.15
APAC Hard Coking Coal FOB140.00140.000.000.00-9.09
Aluminium ($US/t)1,8171,824-7.00-0.384.22
Copper Mar-18 ($US/lb)2.692.680.600.222.28
Lead ($US/t)2,1122,114-3.00-0.12-1.48
Nickel ($US/t)16,18916,208-19.00-0.11-8.40
Zinc ($US/t)2,5242,531-8.00-0.308.87
Tin ($US/t)16,68616,556130.000.791.86
Uranium ($US/lb)25.0025.000.000.20-1.00
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8686,83335.000.512.18
S&P/ASX 2006,7626,72438.000.572.35
ASX 24 Futures6,745
Australian Market Report

Friday 8 November 2019 - close. The Australian share market has closed flat, as gains in riskier assets on optimism the US and China could reach an interim trade deal was offset by declines in defensive stocks. The benchmark S&P/ASX200 index finished Friday down 2.5 points, or 0.04 per cent, to 6,724.1 points, while the broader All Ordinaries was down 3.7 points, or 0.05 per cent, to 6,833.2 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 100cps, m.cap A$172.6m with 172.6m SOI, Cash cA$35m (following placement), Polymetallic Explorer / Developer)

  • ADT have announced the appointment of Ms Sandra Bates and Mr John Richards as Non-Executive Directors of the Company.
  • Ms Bates is a commercial and strategic international lawyer with over 20 years’ experience advising management teams and boards of both listed and private companies in the UK and internationally.
  • She is a risk assessment specialist and brings extensive experience of guiding clients in the natural resources sector through complex negotiations often with a cross-cultural element. Ms Bates is currently a Partner at Fladgate LLP, the London based law firm and is also a member of Women in Mining UK.
  • In accordance with the UK Corporate Governance Code, the board has determined that Ms Bates will be treated as an independent Non-Executive Director
  • Mr Richards appointment follows a request from Sandfire Resources NL, under the terms of the Collaboration and Strategic Partnership Deed, to appoint a nominee to the Board of Adriatic following Sandfire increasing their interest in Adriatic to greater than 10% of issued capital.
  • Mr Richards is an internationally experienced mining executive with an extensive track record in initiation and execution of growth strategies and transactions. He currently serves as a Non-Executive Director of ASX listed Saracen Mineral Holdings Ltd and Sheffield Resources Ltd.
  • Adriatic’s Chairman, Peter Bilbe commented “the addition of Sandra and John to the board supports our agreed strategy to diversify the skills and experience of the Board and increases its independence. We look forward to working with both Sandra and John as we grow Adriatic and transform it from exploration junior to high grade producer”.

Have a question? admin@ashanticapital.com.au

ERA Communications