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28 November 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,16428,12242.000.154.47
S&P 5003,1543,14113.000.424.34
NASDAQ8,7058,64857.000.665.61
FTSE 100 Index7,4307,40327.000.361.44
DAX 3013,287051.000.383.04
CAC 40 Index5,9275,930-3.00-0.053.58
Nikkei 225 (Japan)23,43823,37364.000.282.49
HKSE26,95426,91440.000.150.23
SSE Composite Index2,9032,907-4.00-0.13-2.58
S&P/TSX Composite Index17,10117,03665.000.384.24
NZ 5011,15911,12138.000.343.43
US Volatility (Vix)12
Overseas Market Report

US sharemarkets hit fresh record highs on Wednesday as stronger-than-forecast economic data pointed to a resilient economy ahead of the Thanksgiving Day holiday on Thursday. Under Armour shares rose by 6.1% as broker Raymond James upgraded the sportswear maker to "strong buy". Shares of Apple (+1.3%), Facebook (+1.5%) and McDonald's (+1.2%) also led gains. But Deere shares dropped 4.3% as the farm equipment maker warned of lower earnings in 2020. At the close of trade, the Dow Jones index rose by 42 points or 0.2%. The S&P500 index was up 0.4% and the Nasdaq lifted by 57 points or 0.7%. 

Global oil prices fell on Wednesday. US crude stocks rose by 1.6 million barrels (forecast: -418,000 barrels) last week as production hit a record high at 12.9 million barrels per day, according to the US Energy Information Administration. Brent crude fell by US21 cents or 0.3% to US$64.06 a barrel. The US Nymex price fell by US30 cents or 0.5% to US$58.11 a barrel. 

Base metal prices were mostly higher on the London Metal Exchange on Wednesday. Aluminium (+0.6%) rose the most as Rio Tinto declared force majeure at its Canadian operations.

The gold futures price fell by US$6.90 or 0.5% to US$1,453.40 an ounce. Spot gold was trading near US$1,454 an ounce in late US trade. Iron ore fell by US$1.70 or 1.9% to US$87.00 a tonne as China's industrial profits data fell by the most since at least 2011 raising concerns about steel demand.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent64.1464.27-0.13-0.203.42
Oil - West Texas crude58.1158.41-0.30-0.512.56
Gold Spot $/OZ1,454.001,454.000.000.00-2.55
Silver Spot $/OZ17.0017.000.000.14-4.82
Iron Ore84.1084.40-0.30-0.37-2.03
Thermal Coal Newcastle67.8067.400.300.520.15
APAC Hard Coking Coal FOB139.50140.00-0.50-0.36-3.46
Aluminium ($US/t)1,7741,76411.000.603.05
Copper Mar-18 ($US/lb)2.672.68-0.30-0.11-0.04
Lead ($US/t)1,9271,928-1.00-0.04-13.92
Nickel ($US/t)14,33414,547-213.00-1.46-14.57
Zinc ($US/t)2,3242,3240.00-0.01-9.03
Tin ($US/t)16,39616,32076.000.47-1.46
Uranium ($US/lb)26.0026.000.000.197.68
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,9516,89061.000.881.58
S&P/ASX 2006,8516,78863.000.931.63
ASX 24 Futures6,881
Australian Market Report

Wednesday 27 November 2019 - close. The Australian share market has closed higher for a fourth day, rallying to eclipse its all-time closing high set on July 30. The benchmark S&P/ASX200 index finished Wednesday up 63.1 points, or 0.93 per cent, to 6850.6 points, while the broader All Ordinaries was up 60.8 points, or 0.88 per cent, to 6,950.6 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 136cps, m.cap A$243.3m with 177.6m SOI, Cash cA$35m (following placement), Polymetallic Explorer / Developer)

  • ADT has announced additional assay results which continue to expand the Rupice deposit.
  • Drilling has been limited to existing pads while the local Ministry and Forestry Department review its procedure for track and drill pad construction in the State forests however ADT continue to scale up resource with Rupice now over 500m in strike.
  • Highlights include:
    • Highest gold and silver grades in northern extension area with BR-22-19 returning an interval of
      • 6m @ 11.3g/t Au, 1,019g/t Ag, 13.1% Zn, 12.5% Pb, and 1.3% Cu from 238m
    • BR-27-19 and BR-41-19 extends southerly continuation of the Rupice mineralisation returning:
      • 48m @ 0.72g/t Au, 70g/t Ag, 2.3% Zn, 2.0% Pb, 0.6% Cu and 58% BaSO4 from 240m including intervals of: 4m @ 1.69g/t Au, 175g/t Ag, 6.5% Zn, 4.6% Pb, 0.5% Cu, and 48% BaSO4 and 26m @ 79% BaSO4. (BR-27-19).
      • 10m @ 0.51g/t Au, 58g/t Ag, 3.5% Zn, 3.6% Pb and 0.6% Cu from 248m including an interval of: 4m @ 0.70g/t Au, 86g/t Ag, 6.4% Zn, 5.9% Pb and 0.7% Cu, and
      • 12m @ 1.15g/t Au, 253g/t Ag, 3.0% Zn, 1.8% Pb, 0.5% Cu and 56% BaSO4 from 262m (BR-41-19).
  • Drilling at the Jurasevac-Brestic prospect commenced with BJB-1-19 (Figure 15), BJB-2-19 (Figure 16) and BJB3-19 and BJB-4-19 (Figure 17) drilled into the PDP3D IP anomaly. Drilling intersected a sequence of brecciated sediments very similar to that seen at the Rupice deposit with visible pyrite, and minor lead and zinc mineralisation over average widths of 8m.
  • 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


Have a question? admin@ashanticapital.com.au

ERA Communications