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14 January 2020 09:03 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,90728,82483.000.292.74
S&P 5003,2883,26523.000.703.77
NASDAQ9,2749,17995.001.046.17
FTSE 100 Index7,6187,58830.000.393.59
DAX 3013,45213,483-32.00-0.241.27
CAC 40 Index6,0366,037-1.00-0.021.98
Nikkei 225 (Japan)24,02023,851170.000.71-0.01
HKSE28,95528,638317.001.114.58
SSE Composite Index3,1163,09223.000.754.98
S&P/TSX Composite Index17,29317,23459.000.341.71
NZ 5011,59911,54455.000.483.18
US Volatility (Vix)12
Overseas Market Report

US sharemarkets rose on Monday. Investors await key earnings reports from major banks on Tuesday and the US-China Phase 1 trade agreement to be signed on Wednesday. Technology stocks did best on Monday with Apple up 2.1%, Facebook up 1.8% and Netflix up 3.0%. Reuters reported that shares in Tesla rose 9.8% "after a report that China would not make significant cuts to subsidies for new energy vehicles this year." At the close of trade, the Dow Jones index was up by 83 points or 0.3%. The S&P500 index was up 0.7% to record highs and the Nasdaq index was higher by 95 points or 1.0% to record highs. 

Global oil prices fell by up to 1.6% on Monday. Investors focussed on healthy crude oil stockpiles in the US and the pressure placed on refinery margins. Reuters reported that the "US heating oil crack spread, a measure of the profit margin for refining crude into diesel or heating oil, fell to $21.56, the weakest in almost five months." The Brent crude price fell by US78 cents or 1.2% to US$64.20 a barrel. And the US Nymex price fell by US96 cents or 1.6% to US$58.08 a barrel. 

Base metal prices were mixed on Monday. Lead, nickel and aluminium fell by up to 1.0%. Other metals rose by up to 1.5% with copper up the most. 

The gold futures price fell by US$9.10 or 0.6% to US$1,548.40 an ounce. Spot gold was trading near US$1,549 an ounce in late US trade. Iron ore rose by US$1.25 or 1.3% to US$94.50 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent64.2064.98-0.78-1.20-1.56
Oil - West Texas crude58.2058.080.120.21-3.11
Gold Spot $/OZ1,542.001,548.00-6.00-0.394.44
Silver Spot $/OZ17.9018.00-0.10-0.375.68
Iron Ore88.5088.100.400.452.62
Thermal Coal Newcastle72.2070.901.301.908.97
APAC Hard Coking Coal FOB154.50154.000.500.326.19
Aluminium ($US/t)1,7751,781-6.00-0.321.06
Copper Mar-18 ($US/lb)2.862.860.000.002.90
Lead ($US/t)1,8951,914-19.00-0.990.12
Nickel ($US/t)14,00814,116-109.00-0.77-0.75
Zinc ($US/t)2,3902,3882.000.086.11
Tin ($US/t)17,34717,209138.000.800.61
Uranium ($US/lb)24.0024.000.000.00-4.11
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords7,0717,02051.000.733.31
S&P/ASX 2006,9556,90451.000.743.20
ASX 24 Futures6,898
Australian Market Report

Monday 13 January 2020 - close. The Australian share market has pulled back after breaking through its all-time highs on Friday, with Australia's largest companies dipping the most. The benchmark S&P/ASX200 index on Monday closed down 25.3 points, or 0.37 per cent, to 6,903.7, while the broader All Ordinaries finished down 21.7 points, or 0.31 per cent, to 7,020.2 points.

Ashanti Headlines

Cassini Resources Ltd (CZI.ASX, 8.9cps, m.cap A$38.1m with 427.8m SOI, Cash cA$7.3m, Base Metals Explorer)

  • CZI have announced encouraging early results from drilling at the Yarawindah Brook Project (80%) located 130km northeast of Perth
  • Maiden drill testing intersects Ni and Cu-bearing sulphides, hosted by mafic rocks, over 50m wide intervals  
  • New discovery named “Brassica Prospect”; located 4km from closest previously known mineralisation in the project area  
  • Results confirm multiple, separate mineralised intrusions within the Project 
  • Highlights include:
    • 1.1m @ 0.50% Ni, 0.10% Cu & 0.08% Co from 92.9m in YAD0002 and 
    • 0.7m @ 0.09% Ni, 1.46% Cu & 0.02% Co from 71.4m in YAD0001 (Figure 2).  
  • Diamond drilling has re-commenced after the Christmas break
  • PLease see link to full announcement 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