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21 November 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average27,82127,934-113.00-0.403.93
S&P 5003,1083,120-12.00-0.384.09
FTSE 100 Index7,2627,324-61.00-0.841.57
DAX 3013,1580-63.00-0.484.15
CAC 40 Index5,8945,909-15.00-0.254.57
Nikkei 225 (Japan)23,14923,293-144.00-0.622.66
SSE Composite Index2,9112,934-23.00-0.78-0.97
S&P/TSX Composite Index17,00617,011-6.00-0.033.84
NZ 5010,95410,975-22.00-0.20-0.99
US Volatility (Vix)13
Overseas Market Report

US sharemarkets fell on Wednesday on mounting US-China tensions. Reuters reported that the completion of a "phase one" USChina trade deal could be delayed into next year, citing trade experts and people close to the White House. Home Depot (-2.2%), Apple (-1.2%) and Caterpillar (-1.2%) led the Dow Jones index lower. US retailers Target (+14.1%) and Lowe's (+3.9%) were the 'bright spots' after the two companies raised their profit forecasts. At the close of trade, the Dow Jones index fell by almost 113 points or 0.4%. The S&P500 index fell by 11 points or 0.4% and the Nasdaq index was lower by almost 44 points or 0.5%. 

Global oil prices rebounded on Wednesday. US crude oil stocks grew by 1.4 million barrels last week, the EIA said, less than analysts' expectations for 1.5 million-barrel build. Russia also said it would continue to co-operate with OPEC to keep the global crude oil market balanced. Brent crude rose by US$1.49 or 2.4% to US$62.40 a barrel. And the US Nymex price rose by US$1.90 or 3.4% to US$57.11 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Wednesday. Nickel fell by 2.2% on demand concerns. Zinc (-1.1%) also fell, but aluminium was up by 1.0%. 

The gold futures price fell by US10 cents or 0.01% to US$1,474.20 an ounce. Spot gold was trading near US$1,474 an ounce in late US trade. Iron ore rose by US80 cents or 0.9% to US$86.65 a tonne as Chinese steel prices hit 3-month highs after steel mills were ordered to curb output to reduce pollution.

PreviousChangeDaily %
Monthly %
Oil Brent62.4560.911.542.535.10
Oil - West Texas crude57.0155.351.663.006.01
Gold Spot $/OZ1,472.001,472.00-0.100.00-0.88
Silver Spot $/OZ17.2017.200.000.14-2.18
Iron Ore81.6081.80-0.20-0.18-5.36
Thermal Coal Newcastle67.5067.400.000.07-0.07
APAC Hard Coking Coal FOB143.00143.000.000.00-7.74
Aluminium ($US/t)1,7511,73417.000.990.95
Copper Mar-18 ($US/lb)2.652.66-0.70-0.260.51
Lead ($US/t)1,9761,985-9.00-0.44-10.04
Nickel ($US/t)14,31714,635-318.00-2.17-12.18
Zinc ($US/t)2,3382,364-26.00-1.10-6.01
Tin ($US/t)16,00515,96540.000.25-5.39
Uranium ($US/lb)26.0026.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8286,914-86.00-1.241.04
S&P/ASX 2006,7226,814-92.00-1.351.05
ASX 24 Futures6,707
Australian Market Report

Wednesday 20 November 2019 - close. The Australian share market has suffered its worst day in nearly seven weeks, with the banking and energy sectors suffering especially sharp losses. The benchmark S&P/ASX200 index on Wednesday closed down 91.8 points, or 1.35 per cent, to 6,722.4 points, while the broader All Ordinaries was down 85.9 points, or 1.24 per cent, to 6,828.2 points.

Ashanti Headlines

Invictus Energy Limited: (IVZ.ASX, 3.0 cps, m.cap A$13.5m with 448.7m SOI, Cash ~$2.95m, O&G Explorer)

  • IVZ have  received back new geochemistry data from the lab derived from our outcrop samples acquired a few months ago and had some excellent results. 
  • 2 world class source rocks present in the Permian age Mkanga and Triassic age Alternations Member
  • The Mkanga source rock has been typed to 2 active oil seeps in the Mid Zambezi basin and 3 samples contained generated oil
  • The Alternations Member source rock confirmed good oil and gas generation characteristics
  • The Geochem data correlates with other African and West Australia basin source rocks that host multi billion barrel and multi tcf discoveries
  • New reprocessed seismic data now enables us to track the source rocks from outcrop into the subsurface where they will be thermally mature to generate oil and gas
  • Total Organic Content of up to 35-40% for Alternations Member and Mkanga is well above the threshold of 0.5 – 2.5% for generating significant quantities of gas and oil respectively
  • The results have given IVZ greater confidence in one of the principal risks which is timing of generation coinciding with the structure being present and the source rocks are generating present day.
  • Please see attached link to full announcement here.
  • Please contact your adviser or the desk on +61 8 63197807 should you wish to discuss further

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