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16 December 2019 07:42 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,13528,1323.000.010.47
S&P 5003,1693,1690.000.011.55
NASDAQ8,7358,71718.000.202.27
FTSE 100 Index7,3537,27380.001.100.69
DAX 3013,28313,22261.000.460.31
CAC 40 Index5,9195,88435.000.59-0.34
Nikkei 225 (Japan)24,02323,425598.002.553.09
HKSE27,68826,994694.002.575.17
SSE Composite Index2,9682,91652.001.782.64
S&P/TSX Composite Index17,00316,94756.000.33-0.15
NZ 5011,23911,242-3.00-0.033.16
US Volatility (Vix)13
Overseas Market Report

US sharemarkets eked out modest gains on Friday, but hit record highs during the session as trade tensions eased. Adobe shares rose by 3.9% after it beat analyst estimates for fourth quarter revenue and profit. At the close of trade, the Dow Jones index was up by 3 points or 0.01%. The S&P500 index also rose by 0.01% and the Nasdaq rose by 17 points or 0.2%. 

Global oil prices rose to near 3-month highs on Friday. The USChina trade truce boosted investor hopes for an eventual lift in global crude oil demand. The most active Brent crude contract rose by US$1.02 or 1.6% to US$65.22 a barrel. And the US Nymex price rose by US89 cents or 1.5% to US$60.07 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Friday as investors awaited further details on the US-China trade accord. Lead fell by 1.7%, but nickel rose by 0.5%. 

The gold futures price rose by US$8.90 or 0.6% to US$1,475.60 an ounce. Spot gold was trading near US$1,475 an ounce in late US trade. Iron ore rose by US65 cents or 0.7% to US$94.45 a tonne ahead of China output data due Monday.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent64.9565.22-0.27-0.412.61
Oil - West Texas crude59.8260.07-0.25-0.423.64
Gold Spot $/OZ1,474.001,476.00-1.90-0.130.42
Silver Spot $/OZ16.9016.900.000.02-0.16
Iron Ore86.2085.800.500.558.21
Thermal Coal Newcastle66.3066.50-0.20-0.30-0.60
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7561,762-5.00-0.31-0.52
Copper Mar-18 ($US/lb)2.782.79-0.90-0.325.34
Lead ($US/t)1,8921,925-33.00-1.70-6.96
Nickel ($US/t)14,11314,04272.000.51-8.26
Zinc ($US/t)2,2522,262-10.00-0.45-8.33
Tin ($US/t)17,24217,273-31.00-0.187.82
Uranium ($US/lb)26.0026.000.00-0.782.82
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,9046,84560.000.870.08
S&P/ASX 2006,8016,74062.000.920.11
ASX 24 Futures6,795
Australian Market Report

Friday 13th December - close. The Australian share market has closed higher, with mining stocks rallying on news that the US would roll back tariffs on China as part of an interim trade deal. The benchmark S&P/ASX200 index closed on Friday up 30.9 points, or 0.46 per cent, to 6,739.7 points, while the broader All Ordinaries was up 33.8 points, or 0.5 per cent, to 6,844.6 points.

Ashanti Headlines

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

  • CYM have released an updated investor presentation for December
  • Cyprium have recently completed column test work on Hollandaire massive sulphide mineralisation. The test work was conducted to confirm the leachability of copper mineralisation and to determine the optimal copper extraction method.
  • The results were very promising, with copper leaching into solution at room temperature.
  • These results, although very early stage, are indicative that the proposed processing method (sulphide heap leach / SXEW) has merit at the Cue Copper Project.

Next steps 2020

  • Further column tests have commenced and results are expected early 2020
  • Metallurgical diagnostic testing results
  • Regional targests assay results to be received from January 2020
    • Regional drilling programme at the Eelya South prospect
    • Regional drilling programme at the Rapier prospect
  • Follow up downhole geophysics to be conducted as drilling progresses
  • Resource evaluation update to JORC Code 2012 to be completed in 2020
  • Follow up drilling Hollandaire, Hollandaire West, Eelya South and Rapier West
  • Drilling regional targets Mount Eelya and Colonel

Please see link to presentation 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