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18 December 2019 07:55 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,26728,23631.000.110.82
S&P 5003,1933,1911.000.032.26
NASDAQ8,8238,8149.000.103.20
FTSE 100 Index7,5257,5196.000.082.98
DAX 3013,28813,408-120.00-0.890.61
CAC 40 Index5,9685,992-23.00-0.390.65
Nikkei 225 (Japan)24,06623,952114.000.472.77
HKSE27,84427,508336.001.224.36
SSE Composite Index3,0222,98438.001.273.89
S&P/TSX Composite Index17,07517,05619.000.110.29
NZ 5011,31311,26152.000.464.04
US Volatility (Vix)12
Overseas Market Report

US sharemarkets hit fresh record highs on Tuesday as US factory and housing data beat market expectations. Shares of home improvement chain Home Depot rose by 1.0%. Johnson & Johnson shares gained 1.3% after reports that broker Morgan Stanley had upgraded the stock. Netflix shares rose by 3.7% after the streaming service provider said its growth overseas is accelerating on the back of its Asia-Pacific business. Apple shares (+0.2%) hit record highs. At the close of trade, the Dow Jones index was up by 31 points or 0.1%. The S&P500 index rose by just 0.03% and the Nasdaq was up by 9 points or 0.1%. 

Global oil prices lifted on Tuesday as the improving US and China manufacturing outlook and partial trade deal boosted fuel demand prospects. The most active Brent crude contract rose by US76 cents or 1.2% to US$66.10 a barrel. And the US Nymex price rose by US73 cents or 1.2% to US$60.94 a barrel. 

Base metal prices were mostly lower on the London Metal Exchange on Tuesday. Copper rose to 7-month highs after the release of solid US factory and new home construction data, but retreated by 0.3% at the close. Nickel fell 1.8%. Tin rose 0.9%. 

The gold futures price fell by US40 cents or 0.03% to US$1,474.60 an ounce. Spot gold was trading near US$1,475 an ounce in late US trade. Iron ore fell by US80 cents or 0.9% to US$93.10 a tonne as Chinese demand concerns resurfaced.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent66.1065.340.761.164.42
Oil - West Texas crude60.6060.94-0.34-0.566.22
Gold Spot $/OZ1,476.001,476.00-0.60-0.040.28
Silver Spot $/OZ17.0017.000.00-0.05-0.26
Iron Ore86.2085.800.500.558.21
Thermal Coal Newcastle65.9066.50-0.50-0.83-1.86
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7481,770-22.00-1.23-0.61
Copper Mar-18 ($US/lb)2.822.82-0.10-0.046.88
Lead ($US/t)1,8661,868-3.00-0.13-5.94
Nickel ($US/t)13,89914,158-259.00-1.83-7.14
Zinc ($US/t)2,2872,302-15.00-0.64-5.13
Tin ($US/t)17,36517,218147.000.858.03
Uranium ($US/lb)25.0026.000.00-0.391.60
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,9426,950-9.00-0.131.02
S&P/ASX 2006,8366,847-11.00-0.171.02
ASX 24 Futures6,851
Australian Market Report

Tuesday 17 December 2019 - close. The Australian share market has closed flat, with losses for the tech sector and utilities weighing on gains by the Commonwealth Bank and BHP. The benchmark S&P/ASX200 index finished Monday down 2.4 points, or 0.04 per cent, to 6,847.3 points, while the broader All Ordinaries was down 1.8 points, or 0.03 per cent, to 6,950.5 points.

Ashanti Headlines

Cassini Resources Ltd (CZI.ASX, 8.8cps, m.cap A$38.5m with 427.8m SOI, Cash cA$7.3m, Base Metals Explorer)

  • CZI have announced an agreement with Traka Resources to acquire exclusive rights to their entire West Musgrave tenement package
  • Includes tenements neighbouring the Nebo-Babel and Succoth Deposits
  • Exploration tenure prospective for magmatic Ni-Cu sulphide
  • Expands JV position in the West Musgrave Province to >9,500 km2

Agreement Terms

 - Cassini subsidiary Wirraway Metals and Mining Pty Ltd (“Wirraway”) will acquire access and exclusive rights to minerals on Exploration Licences 69/3156 & 69/3157 and Exploration Licence Applications 69/2749, 69/3490 & 69/3569. 

 - Transfer of the Tenements is subject to the receipt of all regulatory approvals. 

 - Consideration for the sale is $250,000. 

 - Traka will retain a 2% Net Smelter Royalty over the tenement areas. 

  • 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