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03 December 2019 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average27,78328,051-268.00-0.961.59
S&P 5003,1143,141-27.00-0.861.53
NASDAQ8,5688,665-97.00-1.122.17
FTSE 100 Index7,2867,347-61.00-0.82-0.23
DAX 3012,9650-272.00-2.050.03
CAC 40 Index5,7875,905-118.00-2.010.43
Nikkei 225 (Japan)23,53023,294236.001.012.97
HKSE26,44526,34698.000.37-2.42
SSE Composite Index2,8762,8724.000.13-2.79
S&P/TSX Composite Index16,98117,040-59.00-0.342.33
NZ 5011,29011,302-12.00-0.104.91
US Volatility (Vix)15
Overseas Market Report

US sharemarkets fell on Monday on trade concerns after President Trump restored tariffs on metal imports from Brazil and Argentina. Weaker US manufacturing and construction data weighed on sentiment. And despite expectations of record Cyber Monday sales of $9.4 billion, retail stocks were down around 1%. At the close of trade the Dow Jones index was down by 268 points or 1.0% to near session lows. The S&P500 index fell by 0.9% and the Nasdaq index lost 97.5 points or 1.1%. 

Global oil prices rose by up to 1.4% on Monday. Wire reports suggest that OPEC and its allies may deepen output cuts at the meetings later in the week to support prices. Also firmer Chinese economic data supported prices. OPEC nations meet on Thursday and the wider OPEC+ grouping meets on Friday. The most active Brent crude contract was up by US43 cents or 0.7% to US$60.92 a barrel. And the US Nymex price rose by US79 cents or 1.4% to US$55.96 a barrel. 

Base metal prices rose by up to 1.2% on the London Metal Exchange on Monday with aluminium up the most. But zinc and lead both fell by 1.7%. 

The gold futures price fell by US$3.30 to US$1,462.30 an ounce. Spot gold was trading near US$1,463 an ounce in late US trade. Iron ore rose by US$1.50 or 1.7% to US$88.75 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent60.8960.490.400.66-1.30
Oil - West Texas crude55.9655.170.791.43-0.43
Gold Spot $/OZ1,462.001,462.00-0.100.00-3.43
Silver Spot $/OZ16.9016.900.000.15-6.49
Iron Ore83.8083.700.100.16-1.72
Thermal Coal Newcastle67.6069.30-1.80-2.520.52
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,8131,79221.001.161.23
Copper Mar-18 ($US/lb)2.632.64-0.90-0.36-0.77
Lead ($US/t)1,8901,923-33.00-1.73-12.94
Nickel ($US/t)13,65213,61834.000.25-18.73
Zinc ($US/t)2,2612,300-38.00-1.66-12.39
Tin ($US/t)16,51616,50412.000.070.19
Uranium ($US/lb)26.0026.000.000.007.90
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,9656,94817.000.252.75
S&P/ASX 2006,8626,84616.000.242.90
ASX 24 Futures6,777
Australian Market Report

Monday 2 December 2019 - close. The Australian share market has set a fresh all-time closing peak but narrowly missed eclipsing its all-time intraday high set on Friday. The benchmark S&P/ASX200 index slumped in the final minutes of trading to finish Monday up 16.3 points, or 0.24 per cent, to 6,862.3 points, while the broader All Ordinaries was up 17.3 points, or 0.25 per cent, to 6,965.3 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 advised that the initial phase 1 and 2 or the RC drill programme at the Eelya South prospect, totalling 1,138m has been completed
  • All of the Eelya South prospect initial phase drillholes have intersected the targeted structure with altered and mineralised material observed at the supergene horizon, from a depth of approximately 30 metres depth below the ground surface, as illustrated in images 3, 4 and 5.

  • The assay results from Eelya South phases 1 and 2 are expected at the beginning of January 2020 and we look forward to updating the market at that time.
  • In addition, A 900 metre RC drill programme at the Rapier prospect has commenced and we will update the market with assay results from this RC drilling programme as they become available.
  • Executive Director Barry Cahill commented “We are very pleased to have completed the initial Reverse Circulation drilling programme at the Eelya South prospect over a strike length of approximately 500 meters and consistently intersecting the structure at a very shallow depth.”
  • 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