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25 November 2019 07:56 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,87627,766109.000.393.40
S&P 5003,1103,1047.000.222.90
NASDAQ8,5208,50614.000.163.36
FTSE 100 Index7,3277,23988.001.220.03
DAX 3013,16413,13826.000.202.09
CAC 40 Index5,8935,88112.000.202.99
Nikkei 225 (Japan)23,11323,03974.000.321.37
HKSE26,59526,467128.000.48-0.27
SSE Composite Index2,8852,904-18.00-0.63-2.36
S&P/TSX Composite Index16,95516,999-44.00-0.263.35
NZ 5010,96510,94619.000.171.63
US Volatility (Vix)12
Overseas Market Report

US sharemarkets rose on Friday as both the US and China made positive comments about a phase one trade deal. Economic data was also favourable. Shares in Nordstrom rose 10.6% after the retailer's quarterly profit beat forecasts. But shares in Tesla fell 6% with mixed reviews on its newly unveiled electric pickup truck. The Dow Jones was up by 109 points or 0.4%. The S&P500 index was up by 0.2% and the Nasdaq index rose by 14 points or 0.2%. Over the week the Dow fell by 0.5% and the S&P 500 and the Nasdaq both fell near 0.3%. 

Global oil prices fell by around 1% on Friday to be little-changed on the week. Investors continue to watch developments on USChina trade talks. Supporting prices was a fall in the number of oil rigs in operation in the US last week from 674 to 671. Brent crude fell by US58 cents or 0.9% to US$63.39 a barrel. And the US Nymex price fell by US81 cents or 1.4% to US$57.77 a barrel. Over the week Brent and Nymex rose by 0.1%.

Base metal prices rose by up to 1.1% on the London Metal Exchange on Friday with nickel up the most. But tin bucked the trend, falling by 0.3%. Over the week metals fell by 0.5-3.2% with zinc down the most. But tin rose by 1.6% with copper up 0.2%.

The gold futures price was unchanged at US$1,463.60 an ounce. Spot gold was trading near US$1,462 an ounce in late US trade. Over the week gold fell by US$4.90 or 0.3% Iron ore rose by US95 cents or 1.1% to US$87.80 a tonne. Over the week iron ore rose by US$3.05 or 3.6%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent63.5863.390.190.302.52
Oil - West Texas crude58.0057.770.230.402.36
Gold Spot $/OZ1,460.001,462.00-1.10-0.08-2.93
Silver Spot $/OZ16.9017.00-0.10-0.45-6.16
Iron Ore100.6099.301.301.2617.98
Thermal Coal Newcastle67.9067.500.400.520.67
APAC Hard Coking Coal FOB140.00140.000.000.00-9.68
Aluminium ($US/t)1,7511,7484.000.202.38
Copper Mar-18 ($US/lb)2.652.65-0.20-0.06-1.08
Lead ($US/t)1,9521,9467.000.33-12.56
Nickel ($US/t)14,59514,442153.001.06-11.50
Zinc ($US/t)2,3322,31814.000.61-6.65
Tin ($US/t)16,32816,376-48.00-0.29-2.84
Uranium ($US/lb)26.0026.000.00-0.195.49
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8566,81740.000.580.22
S&P/ASX 2006,7506,71040.000.590.15
ASX 24 Futures6,753
Australian Market Report

Friday 22 November 2019 - close. The Australian share market has closed higher for the first time since Tuesday, despite Westpac dragging the financial sector down. The benchmark S&P/ASX200 index finished Friday up 36.9 points, or 0.55 per cent, to 6,709.8 points, while the broader All Ordinaries was up 38.8 points, or 0.57 per cent, to 6,816.5 points.

Ashanti Headlines

Cassini Resources Ltd (CZI.ASX, 8.0cps, m.cap A$33.2m with 415.5m SOI, Cash cA$7.3m, Base Metals Explorer)

  • CZI has announced an expansion of exploration tenure at the West Musgrave Project
  • The new tenement applications, held by Cassini subsidiary Crossbow Resources Pty Ltd, have been accepted into the West Musgrave Project Joint Venture, taking the total land position in the West Musgrave Province, once granted, to over 8,000km2
  • Cassini will manage the exploration of the new tenements in conjunction with the regional exploration of the existing tenure.
  • The new tenements are considered prospective for magmatic nickel and copper sulphide mineralisation similar to the Nebo-Babel deposits currently under evaluation, as well as sediment-hosted (Zambian-style) copper sulphide mineralisation.

  • 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