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05 December 2019 06:51 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average27,65027,503147.000.530.68
S&P 5003,1133,09320.000.631.12
FTSE 100 Index7,1887,15930.000.42-2.46
DAX 3013,1410151.001.160.03
CAC 40 Index5,8005,72772.001.27-0.42
Nikkei 225 (Japan)23,13523,380-245.00-1.05-0.50
SSE Composite Index2,8782,885-7.00-0.23-3.79
S&P/TSX Composite Index16,89716,8925.000.031.36
NZ 5011,31211,210102.000.914.34
US Volatility (Vix)15
Overseas Market Report

US sharemarkets rose on Wednesday on optimism about global trade issues. Shares in Alphabet Inc rose 1.9% after it said Sundar Pichai, who has run its core Google search business since 2015, would take the reins as Chief Executive of the parent company. At the close, the Dow Jones index was up by 147 points or 0.5%. The S&P500 index rose by 0.6% and the Nasdaq index gained 46 points or 0.5%. 

Global oil prices rose by near 4% on Wednesday on expectations that output cuts will be agreed by OPEC oil producers. Also US crude stocks fell by 4.9 million barrels in the past week. Analysts had forecast a decrease of just 1.7 million barrels.. OPEC nations meet later today and the wider OPEC+ grouping meets on Friday. The most active Brent crude contract was up by US$2.18 or 3.6% to US$63.00 a barrel. And the US Nymex price rose by US$2.33 or 4.2% to US$58.43 a barrel. 

Base metal prices rose by up to 2.1% on the London Metal Exchange on Wednesday with zinc doing the best and copper and lead up 1.2%. But nickel fell 1.8% and aluminium lost 0.4%. 

The gold futures price fell by US$4.20 or 0.3% to US$1,474.00 an ounce. Spot gold was trading near US$1,474 an ounce in late US trade. Iron ore rose by US$1.00 or 1.1% to US$89.00 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent63.0460.822.223.651.46
Oil - West Texas crude58.4356.102.334.153.34
Gold Spot $/OZ1,474.001,475.00-0.10-0.01-0.61
Silver Spot $/OZ16.8016.900.00-0.07-4.16
Iron Ore83.8083.80-0.10-0.07-1.67
Thermal Coal Newcastle66.8067.40-0.60-0.89-0.82
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7671,774-8.00-0.42-2.98
Copper Mar-18 ($US/lb)2.642.613.601.38-1.01
Lead ($US/t)1,9061,88422.001.17-12.22
Nickel ($US/t)13,07513,315-240.00-1.80-20.22
Zinc ($US/t)2,2592,21346.002.08-13.15
Tin ($US/t)16,77216,7711.000.012.28
Uranium ($US/lb)26.0026.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,7146,818-104.00-1.53-1.43
S&P/ASX 2006,6076,712-106.00-1.58-1.35
ASX 24 Futures6,667
Australian Market Report

Wednesday 4 December 2019 - close. The Australian share market has fallen sharply for the second day in a row, after Donald Trump remarked that a trade deal with China might have to wait until late 2020. The benchmark S&P/ASX200 index closed on Wednesday down 105.8 points, or 1.58 per cent, to 6,606.5 points, while the broader All Ordinaries was down 104 points, or 1.53 per cent, to 6,714.4 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 147cps, m.cap A$259.5m with 177.6m SOI, Cash cA$35m, Polymetallic Explorer / Developer)

  • ADT has released two more drill results from Rupice, one from the most northern end and most importantly, it has intersected mineralisation east of the bounding structure at the southern end of the deposit.
  • BR-43-19 intersected some of the best high-grade mineralisation in the southern extensions of the Rupice mineralisation returning:
    • 16m @ 1.96g/t Au, 350g/t Ag, 5.3% Zn, 3.4% Pb, 0.5% Cu and 43% BaSO4 from 330m including an interval of: 
    • 10m @ 2.83g/t Au, 536g/t Ag, 7.4% Zn, 4.8% Pb, 0.5% Cu and 60% BaSO4
  • Two southern most drill holes, BR-41-19 and BR-43-19 confirm extensions of the high-grade mineralisation which is now continuous over 550m, and remains open along strike in the south as drill coverage extends towards the Jurasevac-Brestic prospect
  • In addition, SFR have announced they have increased their relevant interest in Adriatic to 28,052,232 shares or 15.785% of the Company
  • Please contact the desk or your adviser on +61 8 6319 7807 should you wish to discuss further.
  • Please see link to full announcement here

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