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09 December 2019 07:49 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,01527,678337.001.221.21
S&P 5003,1463,11728.000.911.71
NASDAQ8,6578,57186.001.002.14
FTSE 100 Index7,2407,138102.001.43-1.63
DAX 3013,16713,055112.000.86-0.47
CAC 40 Index5,8725,80270.001.21-0.30
Nikkei 225 (Japan)23,35423,30054.000.23-0.16
HKSE26,49826,217281.001.07-4.17
SSE Composite Index2,9122,89913.000.43-1.76
S&P/TSX Composite Index16,99716,855142.000.840.71
NZ 5011,25511,276-21.00-0.193.48
US Volatility (Vix)14
Overseas Market Report

US sharemarkets rose by around 1% on Friday. Economic data was better than expected, oil prices rose on a new production agreement and there were positive comments by US trade officials on the US-China talks. White House economic adviser Larry Kudlow said a deal was "close". The Dow Jones index was up by 337 points or 1.2%. The S&P500 index was up 0.9% and the Nasdaq index rose by 86 points or 1.0%. Over the week the Dow Jones fell by 0.1%, the S&P 500 rose by 0.2% and the Nasdaq lost 0.1%. 

Global oil prices rose by more than 1% on Friday. The OPEC+ group of producers (largely OPEC and Russia) agreed to lift production cuts by 500,000 barrels to 1.7 million barrels per day for the first quarter of 2020. Saudi Arabia said that the cut will be effectively 2.1m barrels per day due to improved compliance. The most active Brent crude contract was up by US$1.00 or 1.6% to US$64.39 a barrel. And the US Nymex price was up by US77 cents or 1.3% to US$59.20 a barrel. Over the week Brent rose by 3.1% and Nymex rose by 7.3%. 

Base metal prices rose by up to 1.8% on Friday with copper and tin leading the way. But lead fell by 0.8%. Over the week tin rose 3.7% and copper rose 2.0%. But lead and zinc fell by 2.5%. 

The gold futures price fell by US$17.80 or 1.2% to US$1,459.10 an ounce. Spot gold was trading near US$1,460 an ounce in late US trade. Over the week gold fell by US$6.50 or 0.4%. Iron ore rose by US70 cents or 0.8% to US$89.40 a tonne. Over the week iron ore rose by US$2.15 or 2.5%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent64.2364.39-0.16-0.252.75
Oil - West Texas crude59.0459.20-0.16-0.273.14
Gold Spot $/OZ1,459.001,460.00-0.70-0.050.03
Silver Spot $/OZ16.6016.600.000.03-1.27
Iron Ore84.4084.200.200.251.79
Thermal Coal Newcastle66.4066.50-0.10-0.23-0.23
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7721,75221.001.18-2.42
Copper Mar-18 ($US/lb)2.712.656.302.361.73
Lead ($US/t)1,8751,890-15.00-0.81-11.56
Nickel ($US/t)13,42313,249174.001.31-17.57
Zinc ($US/t)2,2422,2393.000.15-10.97
Tin ($US/t)17,11016,835275.001.633.45
Uranium ($US/lb)26.0026.000.000.005.93
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8456,81331.000.460.17
S&P/ASX 2006,7386,70731.000.460.21
ASX 24 Futures6,735
Australian Market Report

Friday 6 December - close. Australian shares ended last week lower as the local market was weighed down by concerns about a weak domestic economy and escalating trade tensions. The S&P/ASX 200 index fell 2 per cent to 6707 during the week. It rose 0.36 per cent, or 24 points, on Friday.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 23cps, m.cap A$12.89m with 56.1m SOI (post Placement), Cash $4.7m, Copper Developer)

  • CYM have announced it has received firm commitments of approximately $2.3M via the issue of 11 million ordinary shares at $0.21 per new share.
  • Funds will be used to fund the Cue Copper Project drilling programmes and metallurgical test-work, due diligence of advanced stage copper projects and working capital.
  • Executive Director Barry Cahill commented: “We would like to thank the existing and incoming Cyprium Metals shareholders for their support in this over-subscribed capital raise. The Company is well funded to advance our Cue Copper Project drilling programmes and metallurgical testwork, while continuing to assess a range of opportunities in the Australian copper space.”
  • Ashanti Capital acted as the sole lead manager to the Placement.
  • 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