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27 November 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average28,12228,06655.000.204.32
S&P 5003,1413,1347.000.223.90
FTSE 100 Index7,4037,3967.000.091.07
DAX 3013,2360-10.00-0.082.65
CAC 40 Index5,9305,9255.000.083.63
Nikkei 225 (Japan)23,37323,29381.000.352.52
SSE Composite Index2,9072,9061.000.03-1.62
S&P/TSX Composite Index17,03617,0333.000.023.85
NZ 5011,07311,04529.000.262.64
US Volatility (Vix)12
Overseas Market Report

US sharemarkets hit fresh all-time record highs on Tuesday. US President Donald Trump said the US was in the "final throes" in its attempt to reach a trade deal with China. Walt Disney shares gained 1.3% after a report that its streaming service was averaging nearly a million new subscribers a day. Shares of retailer Best Buy (+9.9%) lifted following a strong holiday-quarter profit forecast. But Dollar Tree shares fell by 15.2% after it projected holiday-quarter profit below estimates. At the close of trade, the Dow Jones index lifted by 55 points or 0.2%. The S&P500 index was up by 0.2% and the Nasdaq index rose by 15 points or 0.2%. 

Global oil prices rose on Tuesday. Trade optimism and a Bloomberg survey showing that US stockpiles are likely to have declined by 878,000 barrels last week supported prices. Brent crude rose by US62 cents or 1.0% to US$64.27 a barrel. And the US Nymex price rose by US40 cents or 0.7% to US$58.41 a barrel. 

Base metal prices were mostly higher on the London Metal Exchange on Tuesday. Aluminium (+1.1%) and copper (+1.0%) led gains on US-China trade hopes. But tin fell by 0.8%. 

The gold futures price rose by US$3.40 or 0.2% to US$1,460.30 an ounce. Spot gold was trading near US$1,462 an ounce in late US trade. Iron ore fell by US$1.75 or 1.9% to US$88.70 a tonne as steel demand prospects dimmed.

PreviousChangeDaily %
Monthly %
Oil Brent64.2263.650.570.903.55
Oil - West Texas crude58.4158.010.400.693.09
Gold Spot $/OZ1,452.001,461.00-9.80-0.67-3.52
Silver Spot $/OZ17.1017.100.000.04-5.26
Iron Ore82.6082.000.600.73-3.07
Thermal Coal Newcastle67.4066.800.700.97-0.37
APAC Hard Coking Coal FOB140.00140.000.000.00-3.11
Aluminium ($US/t)1,7641,74519.001.072.44
Copper Mar-18 ($US/lb)2.682.653.001.130.07
Lead ($US/t)1,9281,91711.000.55-13.88
Nickel ($US/t)14,54714,427120.000.83-13.31
Zinc ($US/t)2,3242,30618.000.79-9.02
Tin ($US/t)16,32016,458-138.00-0.84-1.92
Uranium ($US/lb)26.0026.000.00-0.387.47
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8906,83654.000.790.71
S&P/ASX 2006,7886,73156.000.830.72
ASX 24 Futures6,787
Australian Market Report

Tuesday 26 November 2019 - close. The Australian share market has closed higher for a third day, with gains across every sector except consumer discretionary shares. The benchmark S&P/ASX200 index finished on Tuesday up 56.1 points, or 0.83 per cent, to 6,787.5 points, while the broader All Ordinaries was up 54.2 points, or 0.79 per cent, to 6,889.8 points.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 23cps, m.cap A$10.28m with 44.7m SOI, Cash $2.4m, Copper Developer)

  • CYM has announced that metallurgical column test-work has commenced on the massive sulphide mineralisation from the diamond drilling programme, that targeted the known copper mineralisation at the Hollandaire Prospect
  • This metallurgical test-work is being conducted to determine the optimal copper extraction method and has leached copper into solution at room temperature conditions.
  • The metallurgical diamond drilling programme  consisted of three holes for 320m into the mineralised envelope of the Hollandaire Prospect at the Cue Copper Project to provide representative samples for test-work to be undertaken as illustrated in Figure 1.
  • The results from the metallurgical diamond drill holes included:
    • 10.4m @ 14.9% Cu in drill hole 19HOMET003 from 84.5m downhole including:  
      • 4.5m @ 21.9% Cu with 1.2 g/t Au and 46.4 g/t Ag from 90.4m;
    • 19.1m @ 1.3% Cu in drill hole 19HOMET002 from 85.9m downhole including:  
      • 6.4m @ 2.1% Cu with 0.5 g/t Au and 10.5 g/t Ag from 98.6m;
    • 27.9m @ 1.1% Cu in drill hole 19HOMET001 from 45.7m downhole including:  
      • 9.0m @ 1.6% Cu with 0.1 g/t Au and 2.3 g/t Ag from 63.2m.
  • Executive Director Barry Cahill commented “We are delighted and are very encouraged to see the leaching of copper into solution within one hour from the commencement of the column testwork. We are looking forward to providing further updates on the metallurgical test-work as they become available.”
  • A link to the full announcement can be found here.
  • Please contact the desk on +61 8 6319 7807 should you wish to discuss further.

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ERA Communications