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03 February 2020 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average28,25628,859-603.00-2.09-1.32
S&P 5003,2263,284-58.00-1.77-0.29
NASDAQ9,1519,299-148.00-1.591.44
FTSE 100 Index7,2867,382-96.00-1.30-4.41
DAX 3012,98213,157-175.00-1.33-1.79
CAC 40 Index5,8065,872-65.00-1.11-3.93
Nikkei 225 (Japan)23,20522,978227.000.99-1.91
HKSE26,31326,449-137.00-0.52-7.52
SSE Composite Index2,9773,061-84.00-2.75-0.21
S&P/TSX Composite Index17,31817,491-172.00-0.981.48
NZ 5011,49711,717-221.00-1.88-0.83
US Volatility (Vix)19
Overseas Market Report

US sharemarkets fell on Friday as worries about the spread of the coronavirus caused investors to book profits at the end of the week and month. Shares in Amazon rose 7.4% on better-thanexpected sales results. Shares in Visa lost 4.4% after quarterly revenue missed estimates. The Dow Jones index fell by 603 points or 2.1%. The S&P500 index fell by 1.8% and the Nasdaq lost 148 points or 1.6%. Over the week the Dow lost 2.5%, S&P 500 lost 2.1% and the Nasdaq lost 1.8%. 

Global oil prices fell by up to 1.1% on Friday. The Russian energy minister said Russia was prepared to bring forward its next meeting with OPEC oil countries from March into February. Brent crude fell by US13 cents or 0.2% to US$58.16 a barrel. The US Nymex price fell by US58 cents or 1.1% to US$51.56 a barrel. Over the week Brent lost 4.2% and Nymex lost 4.9%. 

Base metal prices were higher by up to 3.3% on the London Metal Exchange on Friday with lead up the most. But zinc rose only 0.3% while aluminium lost 0.7% and copper lost 0.3%. Over the week metals fell up to 6% with zinc and copper down the most. 

The gold futures price fell by US60 cents an ounce to US$1,582.90 an ounce. Spot gold was trading near US$1,590 an ounce in late US trade. Over the week gold rose US$11 or 0.7%. Iron ore fell by US45 cents or 0.5% to US$82.55 a tonne. Over the week iron ore fell by US$9.50 or 10.3%. 

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent56.6257.33-0.71-1.24-14.21
Oil - West Texas crude51.5652.14-0.58-1.11-15.56
Gold Spot $/OZ1,589.001,574.0014.900.944.74
Silver Spot $/OZ18.0018.00-0.10-0.39-0.48
Iron Ore89.3089.300.000.005.59
Thermal Coal Newcastle66.3066.300.00-0.08-2.07
APAC Hard Coking Coal FOB149.00149.70-0.65-0.432.76
Aluminium ($US/t)1,7061,718-12.00-0.70-4.25
Copper ($US/lb)2.522.52-0.70-0.28-10.01
Lead ($US/t)1,8981,83861.003.29-0.81
Nickel ($US/t)12,77212,545227.001.81-8.45
Zinc ($US/t)2,2122,2057.000.33-2.96
Tin ($US/t)16,42516,035390.002.43-4.38
Uranium ($US/lb)25.0025.000.000.61-0.80
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords7,1217,10913.000.183.88
S&P/ASX 2007,0177,0089.000.134.21
ASX 24 Futures6,835
Australian Market Report

Friday 31 January 2020 - close. The local bourse has closed marginally higher - experiencing its first losing week this year - but still had its best month since last February. The benchmark S&P/ASX200 index finished Friday up 8.8 points, or 0.13 per cent, at 7,017.2, while the broader All Ordinaries index gained 12.6 points, or 0.18 per cent, to 7,121.2.

Ashanti Headlines

Pensana Metals Ltd: (PM8.ASX, 18cps, m.cap A$26.5m with 147.4m SOI, Cash $1.3m, Rare Earths explorer)

  • Pensana has released its Dec Quarterly report. Highlights for the period:
  • Preliminary Feasibility Study delivers strong economics for the Longonjo NdPr Project.  
  • Mining 2 mtpa of near surface weathered material and producing 56,000 tpa of NdPr rich concentrate.  
  • Definitive Feasibility Study commenced.  
  • 7,000 metre infill and extension RC drilling programme commences.  
  • 60 tonne bulk sample transported from site by rail to the port of Lobito and shipped to Australia for pilot plant test‐work.  
  • Angolan permitting, studies and mining licence submissions progressing on schedule.  
  • London Stock Exchange main board standard listing on track for before end of Q1 2020, subject to regulatory approvals.

Have a question? admin@ashanticapital.com.au

ERA Communications