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20 December 2019 08:37 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,37728,239138.000.492.00
S&P 5003,2053,19114.000.453.12
NASDAQ8,8878,82859.000.674.23
FTSE 100 Index7,5747,54133.000.444.29
DAX 3013,21213,222-10.00-0.080.41
CAC 40 Index5,9725,96013.000.211.33
Nikkei 225 (Japan)23,87523,86510.000.043.14
HKSE27,80027,884-84.00-0.303.39
SSE Composite Index3,0173,0170.000.003.64
S&P/TSX Composite Index17,06417,03232.000.190.34
NZ 5011,47811,481-2.00-0.024.58
US Volatility (Vix)12
Overseas Market Report

US sharemarkets rose to all-time highs on Thursday. The market shrugged-off US President Donald Trump's impeachment, as the Republican-controlled Senate is widely expected not to convict him and remove him from office. US Treasury Secretary Steven Mnuchin said an initial US-China trade deal would be signed in early January. Cisco Systems (+2.7%) was the top performer on the Dow Jones. Conagra Brands (+15.9%) shares rose after the Slim Jim maker beat quarterly sales and profit estimates. At the close of trade, the Dow Jones index rose by 137 points or 0.5%. The S&P500 index lifted by 0.5% and the Nasdaq index was up by 59 points or 0.7%. 

Global oil prices rose to fresh 3-month highs on Thursday, supported by low US inventories and a more positive demand outlook. The most active Brent crude contract rose by US37 cents or 0.6% to US$66.54 a barrel. And the US Nymex price lifted by US29 cents or 0.5% to US$61.22 a barrel. 

Base metal prices were mostly higher on the London Metal Exchange on Thursday. Zinc (+1.2%) inventories fell for a 12th straight day to 53,525 tonnes. Nickel (+2.2%), aluminium (+1.1%) and copper (+0.7%) all lifted, but lead fell by 0.2%. 

The gold futures price rose by US$5.60 or 0.4% to US$1,478.20 an ounce. Spot gold was trading near US$1,478 an ounce in late US trade. Iron ore rose by US90 cents or 1.0% to US$93.20 a tonne, despite oversupply concerns for 2020.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent66.5466.170.370.569.24
Oil - West Texas crude61.1161.18-0.07-0.117.00
Gold Spot $/OZ1,479.001,479.000.300.020.51
Silver Spot $/OZ17.1017.100.000.05-0.46
Iron Ore85.1085.60-0.50-0.554.35
Thermal Coal Newcastle66.5066.200.300.38-1.41
APAC Hard Coking Coal FOB145.50139.006.504.680.69
Aluminium ($US/t)1,7741,75520.001.132.35
Copper Mar-18 ($US/lb)2.832.821.400.516.59
Lead ($US/t)1,8971,901-4.00-0.22-4.46
Nickel ($US/t)14,11413,804310.002.24-3.56
Zinc ($US/t)2,3282,30127.001.16-1.55
Tin ($US/t)17,38517,30580.000.468.89
Uranium ($US/lb)25.0025.000.000.00-1.93
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,9306,943-12.00-0.181.49
S&P/ASX 2006,8216,833-12.00-0.181.46
ASX 24 Futures6,756
Australian Market Report

Thursday 19 December 2019 - close. The Australian share market has closed lower after positive November jobs data pared the chances of a February interest rate cut and took the gloss off local equities. The benchmark S&P/ASX200 index finished Thursday 18.3 points, or 0.27 per cent, lower at 6,833.1 points, while the broader All Ordinaries slipped 14.4 points, or 0.21 per cent, to 6,942.6 points.

Ashanti Headlines

Cassini Resources Ltd (CZI.ASX, 8.5cps, m.cap A$36.8m with 427.8m SOI, Cash cA$7.3m, Base Metals Explorer)

  • CZI has announced the results from recent drilling at the One Tree Hill Prospect and Succoth Deposit within the West Musgrave Project (“WMP” or the “Project”) in Western Australia.
  • HIGHLIGHTS 
  • One Tree Hill
    • Significantly improved geological and structural interpretation following high resolution aeromagnetics and step out drilling
    • Priority target zone defined in interpreted fold-hinge 
  • Succoth 
    • Infill drilling supports new geological interpretation more favourable for open-pit mining 
    • Evaluation of potential mineralisation extensions continuing
  • A link to the full announcement can be found 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