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13 December 2019 08:10 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average28,13227,911221.000.791.25
S&P 5003,1693,14227.000.862.41
FTSE 100 Index7,2737,21657.000.79-1.06
DAX 3013,22213,14775.000.57-0.06
CAC 40 Index5,8845,86123.000.40-0.39
Nikkei 225 (Japan)23,42523,39233.000.140.45
SSE Composite Index2,9162,924-9.00-0.300.36
S&P/TSX Composite Index16,94716,9407.000.04-0.07
NZ 5011,26011,308-48.00-0.423.92
US Volatility (Vix)14
Overseas Market Report

US sharemarkets were firmer on Thursday, hitting record intraday highs, on reports that the US and China have reached a trade deal that awaits signoff by President Trump. The energy sector rose 2% but defensive sectors such as real estate and utilities were weaker. Shares in Delta Air Lines rose 3.1% after flagging a lift in profit and revenue in 2020. At the close of trade the Dow Jones index was up by 221 points or 0.8%, after being up almost 314 points in early trade. The S&P500 index rose by 0.9% to record highs and the Nasdaq rose by 63 points or 0.7% to record highs.

Global oil prices rose by around 0.7% on Thursday after US President Trump said he was very close to making a big trade deal with China. But in restraining prices, Reuters reported "the International Energy Agency predicted a sharp rise in global inventories despite the (recent) OPEC agreement, noting expectations for lower output by the United States and other nonOPEC countries." The most active Brent crude contract rose by US48 cents or 0.8% to US$64.20 a barrel. And the US Nymex price rose by 42 cents or 0.7% to US$59.18 a barrel. 

Base metal prices rose by up to 2% on the London Metal Exchange on Thursday with zinc and nickel up the most. But tin fell 0.3%. Copper futures edged up to 7-month highs. 

The gold futures price fell by US$2.70 or 0.2% to US$1,466.70 an ounce. Spot gold was trading near US$1,469 an ounce in late US trade. Iron ore fell by US55 cents or 0.6% to US$93.80 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent64.2063.720.480.753.45
Oil - West Texas crude59.6059.180.420.714.34
Gold Spot $/OZ1,466.001,470.00-3.70-0.250.18
Silver Spot $/OZ16.9016.900.00-0.14-0.42
Iron Ore85.8085.600.300.345.30
Thermal Coal Newcastle66.5066.100.400.61-0.08
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7621,75111.000.60-0.91
Copper Mar-18 ($US/lb)2.812.792.500.906.63
Lead ($US/t)1,9251,9242.000.08-6.45
Nickel ($US/t)14,04213,786256.001.86-10.37
Zinc ($US/t)2,2622,21844.001.98-10.13
Tin ($US/t)17,27317,318-45.00-0.265.78
Uranium ($US/lb)26.0026.000.00-0.394.46
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,8376,81126.000.380.46
S&P/ASX 2006,7336,70925.000.370.52
ASX 24 Futures6,744
Australian Market Report

Thursday 12 December 2019 - close. The Australian share market closed lower ahead of Sunday's deadline for the US and China to reach an interim deal on trade before higher US tariffs kick in. The benchmark S&P/ASX200 index finished on Thursday down 43.8 points, or 0.65 per cent, to 6,708.8 points, while the broader All Ordinaries was down 42.4 points, or 0.62 per cent, to 6,810.8 points.

Ashanti Headlines

Cassini Resources Ltd (CZI.ASX, 8.4cps, m.cap A$34.9m with 415.5m SOI, Cash cA$7.3m, Base Metals Explorer)

  • CZI directors and key management personnel have exercised 12,250,000 unlisted options raising $820,750.
  • The option exercise includes a $234,000 cash investment from Managing Director Mr Richard Bevan, $221,000 from Chief Operations Officer Greg Miles, $134,000 from Non-executive Chairman Mr Mike Young, and $67,000 each from Non-Executive Directors Dr Jon Hronsky and Mr Phil Warren.
  • Cassini Managing Director, Mr Richard Bevan, said “It is a strong sign of support for the Company that all of the Board and key management have decided to exercised their share options. It demonstrates the confidence that we have in value of Cassini going forward and our commitment to delivering for all shareholders.”

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