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26 November 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average28,06627,876191.000.684.11
S&P 5003,1343,11023.000.753.68
FTSE 100 Index7,3967,32769.000.950.98
DAX 3013,246083.000.632.73
CAC 40 Index5,9255,89332.000.543.54
Nikkei 225 (Japan)23,29323,113180.000.782.16
SSE Composite Index2,9062,88521.000.72-1.65
S&P/TSX Composite Index17,03316,95578.000.463.83
NZ 5010,98710,95433.000.301.84
US Volatility (Vix)12
Overseas Market Report

US sharemarkets rose to record highs on Monday. Merger & acquisition activity boosted shares as did more signs of progress on a US-China trade agreement. A Reuters story noted "China said on Sunday it would seek to improve protections for intellectual property rights, including raising the upper limits for compensation for rights infringements." Charles Schwab said it would buy discount brokerage TD Ameritrade in an all-stock deal valued at US$26 billion. Shares in Charles Schwab rose by 2.3% and shares in TD Ameritrade rose by 7.6%. Shares in Tiffany & Co rose 6.2% after a takeover deal from LVMH. At the close of trade the Dow Jones was up by 191 points or 0.7%. The S&P500 index was up by 0.8% and the Nasdaq index rose by almost 113 points or 1.3%. 

Global oil prices rose 0.4% on Monday. While there was optimism about a US-China trade deal, investors waited for confirmation that a deal will be done. Instability continues in Hong Kong and this could complicate the decision-making process. Brent crude rose by US26 cents or 0.4% to US$63.65 a barrel. And the US Nymex price rose by US24 cents or 0.4% to US$58.01 a barrel. 

Base metal prices fell by up to 1.8% on the London Metal Exchange on Monday with lead down the most and nickel and zinc down near 1.2%. But tin bucked the trend, up by 0.8% while copper rose 0.2%.

The gold futures price fell by US$6.70 or 0.5% to US$1,456.90 an ounce. Spot gold was trading near US$1,455 an ounce in late US trade. Iron ore rose by US$2.65 or 3.0% to US$90.45 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent63.5963.390.200.322.53
Oil - West Texas crude58.0157.770.240.422.38
Gold Spot $/OZ1,455.001,455.00-0.30-0.02-3.29
Silver Spot $/OZ16.9016.900.000.06-6.25
Iron Ore82.6082.000.600.73-3.07
Thermal Coal Newcastle66.8067.90-1.20-1.69-1.33
APAC Hard Coking Coal FOB140.00140.000.000.00-9.68
Aluminium ($US/t)1,7451,751-6.00-0.331.35
Copper Mar-18 ($US/lb)2.652.65-0.10-0.02-1.05
Lead ($US/t)1,9171,952-35.00-1.81-14.35
Nickel ($US/t)14,42714,595-168.00-1.15-14.02
Zinc ($US/t)2,3062,332-27.00-1.15-9.73
Tin ($US/t)16,45816,328130.000.80-1.09
Uranium ($US/lb)26.0026.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8366,81719.000.28-0.08
S&P/ASX 2006,7316,71022.000.32-0.12
ASX 24 Futures6,769
Australian Market Report

Monday 25 November 2019 - close. The Australian share market has moved higher after signs that China is willing to raise penalties on intellectual property theft, a key sticking point in its trade war with the US. The benchmark S&P/ASX200 index surged in the first hour of trade but then mostly dropped the rest of the day, giving up about half its gains to finish on Monday up 21.6 points, or 0.32 per cent, to 6,731.4 points. The broader All Ordinaries was up 19.1 points, or 0.28 per cent, to 6,835.6 points.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 24cps, m.cap A$10.73m with 44.7m SOI, Cash $2.4m, Copper Developer)

  • CYM has commenced its RC drilling programme at the Eelya South prospect.
  • 2,430m is being conducted in three phases, each dependent on the mineralisation results from the preceding phase.
  • The regional programmes have been undertaken as part of the Company’s strategy to increase its copper resource base at the Cue Copper Project with the Eelya South prospect being located only 5 km to the south of the Hollandaire copper mineralisation.
  • Outcropping of malachite mineralised felsic schist has been observed whilst conducting surface soil and rock chip sampling of the shear hosted mineralisation at the Eelya South prospect.
  • Surface rock chip sampling results at Eelya South include:
    • 19.7% Cu in surface sample ES13 including 0.9 g/t Au and 32.5 g/t Ag  
    • 14.5% Cu in surface sample ES11 including 2.7 g/t Au and 14.0 g/t Ag  
    • 11.4% Cu in surface sample ES15 including 0.7 g/t Au and 55.5 g/t Ag  
    • 9.6% Cu in surface sample ES12 including 4.1 g/t Au and 47.5 g/t Ag  
    • 9.2% Cu in surface sample ES08 including 0.8 g/t Au and 19.5 g/t Ag
  • Following the completion of the initial Eelya South RC drilling programme, an RC drilling programme at the Rapier prospect will be commenced together with the second phase of the Hollandaire RC drilling programme.
  • Executive Director Barry Cahill commented “We are very pleased to commence drilling at the Eelya South prospect following the recent completion of a surface sampling programme whereby high-grade copper samples were observed from a shear occurring at surface for more than five hundred metres in length.”
  • Please see link to full announcement here
  • Please contact your adviser or the desk on +61 8 6319 7807 should you wish to discuss further.

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