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18 November 2019 07:54 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,00527,782223.000.804.61
S&P 5003,1203,09724.000.774.50
NASDAQ8,5418,47962.000.735.58
FTSE 100 Index7,3037,29310.000.142.13
DAX 3013,24213,18062.000.474.81
CAC 40 Index5,9395,90138.000.655.38
Nikkei 225 (Japan)23,30323,142162.000.703.60
HKSE26,32726,3243.000.01-1.47
SSE Composite Index2,8912,910-19.00-0.64-1.59
S&P/TSX Composite Index17,02816,97256.000.333.98
NZ 5010,89110,895-4.00-0.04-1.59
US Volatility (Vix)12
Overseas Market Report

US sharemarkets rose to record highs on Friday. US Commerce Secretary Wilbur Ross said in an interview on Fox Business Network that there was a very high probability the United States would reach a final agreement on a phase one trade deal with China. Shares in Applied Materials rose 9% after the chip gear maker forecast first quarter revenue above market expectations. At the close the Dow Jones was up by 223 points or 0.8%. The S&P500 index was up by 0.8% and the Nasdaq index was higher by 62 points or 0.7%. Over the week the Dow rose by 1.2%, the S&P 500 rose by 0.9% and the Nasdaq rose by 0.8%. 

Global oil prices rose by near 1.7% on Friday on optimism about a US-China trade deal. But prices were capped by the International Energy Agency monthly report that predicted a lift in non-OPEC oil supplies in 2020. Brent crude rose by US$1.02 or 1.6% to US$63.30 a barrel. And the US Nymex price rose by US95 cents or 1.7% to US$57.72 a barrel. Over the week Brent rose by 1.3% and Nymex rose by 0.8%. 

Base metal prices fell by 0.7-1.3% on the London Metal Exchange on Friday with tin down the least and lead down the most. But copper rose by 0.7% and aluminium rose by 1.2%. Over the week metals fell by 1.4-7.5% with copper down the least and nickel down the most.

The gold futures price fell by US$4.90 or 0.3% to US$1,468.50 an ounce. Spot gold was trading near US$1,467 an ounce in late US trade. Over the week gold rose by US$5.60 or 0.4% Iron ore rose by US$1.35 or 1.6% to US$84.75 a tonne. Over the week iron ore rose by US$4.85 or 6.1%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent63.3663.300.060.096.63
Oil - West Texas crude57.8157.720.090.167.49
Gold Spot $/OZ1,469.001,468.000.900.06-1.39
Silver Spot $/OZ17.0017.000.000.18-3.17
Iron Ore79.7079.700.000.03-14.07
Thermal Coal Newcastle67.2066.700.500.670.37
APAC Hard Coking Coal FOB143.00143.000.000.00-6.84
Aluminium ($US/t)1,7591,73822.001.242.42
Copper Mar-18 ($US/lb)2.642.64-0.10-0.020.06
Lead ($US/t)1,9832,009-26.00-1.28-7.52
Nickel ($US/t)14,96715,154-187.00-1.23-12.49
Zinc ($US/t)2,4102,434-24.00-0.97-1.94
Tin ($US/t)16,07416,190-117.00-0.72-3.43
Uranium ($US/lb)25.0025.000.000.200.60
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8726,899-27.00-0.391.68
S&P/ASX 2006,7676,794-27.00-0.391.76
ASX 24 Futures6,777
Australian Market Report

Friday 15 November 2019 - close. The Australian share market has hit its highest level since late July, with gains across the board as traders bet that the country's sluggish economy will lead to another cut in the official cash rate. The benchmark S&P/ASX200 index closed up 58.6 points, or 0.87 per cent, to 6,793.7 points, while the broader All Ordinaries was up 58.1 points, or 0.85 per cent, to 6,898.9 points.

Ashanti Headlines

AuMake International Ltd (AU8.ASX, 12cps, m.cap A$39.9m with 332.4m SOI, Cash $9.6m (Consumer Discretionary)

  • AU8 have announced the appointment of Mr Oliver Horn as a Non-Executive Director and Mr Jacky Yang as a Executive Director.
  • Mr Horn was most recently Managing Director of Swisse Wellness for Australia and New Zealand (ANZ) and North America, having previously held senior operational leadership positions at Treasury Wine Estates across ANZ, Europe, Middle East and Africa. Mr Horn’s extensive experience in servicing Chinese consumers in Australia, in premium brand building, his deep knowledge of the vitamins, minerals and supplements (VMS) category and his passion for creating businesses with a positive and thriving workplace culture will be an asset to AuMake’s Board and management team. Regarding his appointment to the board, Mr. Horn comments: “As a result of detailed due diligence on the AuMake business, including the people involved, I have formed the strong view that the AuMake business model is unique with huge potential to become a material player in the Asian tourism industry for Australia and New Zealand. This is a business that is well placed and connected to the Chinese consumer, with an entrepreneurial mindset and that’s something I want to be a part of. I believe significant scope exists for me to leverage my complementary skillset and 20 plus years of experience in building brands and culture, to add significant value to AuMake. I look forward to working with the AuMake team in the coming years.”
  • Mr Yang is a highly experienced Asian focussed tourism professional with over 20 years of experience in the Asian tourist retail industry. During this time Mr Yang co-founded and built the Broadway business to a turnover of over $30 million per annum, which was ultimately acquired by AuMake in July 2019. Mr Yang’s long standing and established relationships throughout the entire tourist supply chain, including with travel agents in China and ANZ, will provide valuable insight to the Board as it focuses on the continued growth of AuMake in the Asian tourist market. Regarding his appointment to the board, Mr Yang comments: “My appointment to the Board of AuMake represents a crucial step towards the mutual growth of Broadway and AuMake. By implementing and building upon AuMake’s distribution platform and well respected public branding, Broadway is able to explore a number of previously unfeasible marketing channels and strategies to increase our global reach. As a new Director, I intend to bring onboard the Asian market knowledge and business networks I have built over the last 20 years and together we will bring our business to new heights.”
  • Mr Gang Xu and Ms Lingye Zheng have retired from the board effective immediately.
  • A link to the full announcement can be found 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