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19 November 2019 07:52 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,03628,00531.000.114.73
S&P 5003,1223,1202.000.054.55
NASDAQ8,5508,5419.000.115.69
FTSE 100 Index7,3087,3035.000.072.20
DAX 3013,20713,242-35.00-0.264.54
CAC 40 Index5,9305,939-9.00-0.165.21
Nikkei 225 (Japan)23,41723,303113.000.494.11
HKSE26,68126,327354.001.35-0.14
SSE Composite Index2,9092,89118.000.62-0.99
S&P/TSX Composite Index17,02517,028-3.00-0.023.96
NZ 5010,98710,873114.001.05-0.72
US Volatility (Vix)12
Overseas Market Report

US sharemarkets lifted on Monday. Shares opened lower after CNBC reported that the mood in Beijing about a potential trade deal was pessimistic due to US President Donald Trump's reluctance to roll back tariffs. Sentiment improved after the Trump administration issued a new 90-day extension allowing US companies to continue doing business with China's Huawei Technologies. But tradesensitive shares of Caterpillar fell by 1.2% and Chevron was down by 1.7% on lower oil prices. Walt Disney (+2.1%) shares led gains on the Dow Jones. At the close of trade, US shares hit record highs. The Dow Jones was up by 31 points or 0.1%. The S&P500 index was higher by 0.1% and the Nasdaq index was higher by 9 points or 0.1%. 

Global oil prices fell on Monday due to US-China trade talk concerns. Saudi Arabia announced that it will sell just 1.5% of Aramco's shares and set a valuation target of US$1.6-1.71 trillion at its initial public offering (IPO). Brent crude fell by US86 cents or 1.4% to US$62.44 a barrel. And the US Nymex price fell by US67 cents or 1.2% to US$57.05 a barrel. 

Base metal prices fell on the London Metal Exchange on Monday. Lead (-2.2%) and zinc (-2.0%) fell by the most. Nickel (- 1.0%) was also down due to elevated production in China. 

The gold futures price rose by US$3.40 or 0.2% to US$1,471.90 an ounce. Spot gold was trading near US$1,471 an ounce in late US trade. Iron ore rose by US35 cents or 0.4% to US$85.10 a tonne after China reduced short-term borrowing costs to boost the economy.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent62.4463.30-0.86-1.365.08
Oil - West Texas crude56.9257.05-0.13-0.235.84
Gold Spot $/OZ1,472.001,471.000.200.02-1.22
Silver Spot $/OZ17.0017.000.00-0.05-2.91
Iron Ore81.6079.701.902.32-11.30
Thermal Coal Newcastle67.5067.200.300.520.00
APAC Hard Coking Coal FOB143.00143.000.000.00-6.84
Aluminium ($US/t)1,7401,759-19.00-1.080.32
Copper Mar-18 ($US/lb)2.622.62-0.10-0.02-0.63
Lead ($US/t)1,9391,983-45.00-2.24-11.75
Nickel ($US/t)14,81814,967-149.00-1.00-9.11
Zinc ($US/t)2,3632,410-48.00-1.97-5.02
Tin ($US/t)16,03416,074-40.00-0.25-5.22
Uranium ($US/lb)25.0025.000.001.402.21
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8756,8723.000.041.72
S&P/ASX 2006,7716,7674.000.071.83
ASX 24 Futures6,779
Australian Market Report

Monday 18 November 2019 - close. The Australian share market has closed lower, with every sector falling except for consumer stocks. The benchmark S&P/ASX200 index finished Monday down 26.9 points, or 0.4 per cent, to 6,766.8 points, while the broader All Ordinaries was down 27.2 points, or 0.39 per cent, to 6,871.7 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 130cps, m.cap A$222.7m with 172.6m SOI, Cash cA$35m (following placement), Polymetallic Explorer / Developer)

  • ADT has released a Scoping Study for its 100% owned Vareš Project in Bosnia and Herzegovina and will now move into delivering a PFS in early-2020 and Feasibility Study by the DecQ 2020.
  • The Company is anticipating a 800ktpa operation where it mines and processes the Rupice underground for 10 years before moving to the lower grade Veovaca open pit for 7 years.
  • Construction is planned to commence in the JunQ 2021 with first production 12 months later.
  • CAPEX estimated to be US$178M including a 30% contingency.
  • OPEX is as low as US$56.70/t with an additional US$35.3/t for TC/RCs.
  • The study assumes a mining inventory of 11.9Mt @ 4.16% Zn, 2.64% Pb, 0.4% Cu, 26.8% BaSO4, 1.2g/t Au, 143.8g/t Ag and 0.18% Sb.
  • ADT estimates a post-tax NPV8 of US$916.6M
  • Please see attached link to full announcement here
  • Please contact your adviser or the desk on +61 8 6319 7806 should you wish to discuss further.

Have a question? admin@ashanticapital.com.au

ERA Communications