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21 February 2020 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average29,22029,348-128.00-0.44-0.44
S&P 5003,3733,386-13.00-0.381.31
NASDAQ9,7519,817-66.00-0.673.86
FTSE 100 Index7,4377,457-20.00-0.27-2.81
DAX 3013,66413,789-125.00-0.910.85
CAC 40 Index6,0626,111-49.00-0.80-0.27
Nikkei 225 (Japan)23,47923,40178.000.34-1.61
HKSE27,60927,656-47.00-0.17-1.34
SSE Composite Index3,0302,97555.001.84-0.72
S&P/TSX Composite Index17,94417,92519.000.101.97
NZ 5012,08412,06520.000.162.37
US Volatility (Vix)16
Overseas Market Report

US sharemarkets tumbled on Thursday as investors fretted over reports of a rise in new coronavirus cases in China and South Korea. The Dow Jones index fell by 388 points during the trading session. Technology stocks led the slide, with Intel (-2.5%), Microsoft (-1.5%), Apple (-1.0%) and Amazon.com (-0.8%) all down. But E*Trade shares rose by 21.8% after Morgan Stanley offered to buy it in a US$13 billion stock deal. At the close of trade, the Dow Jones index fell by 128 points or 0.4%. The S&P500 index was also down by 0.4%. The Nasdaq index finished lower by 66 points or 0.7%. 

Global oil prices rose on Thursday after a much smaller-thananticipated rise in US crude oil stocks. The US EIA said that crude inventories rose by 414,000 barrels last week, below analysts estimates for a 2.5 million barrel rise. Brent crude rose by US19 cents or 0.3% to US$59.31 a barrel. The US Nymex price rose by US49 cents or 0.9% to US$53.78 a barrel. 

Base metal prices were mixed on the London Metal Exchange on Thursday. Nickel (-1.2%) fell after the global nickel market widened its surplus to 2,000 tonnes in December from a surplus of 1,100 tonnes in November. Tin rose by 0.3%. 

The gold futures price rose by US$9.10 an ounce or 0.6% to 7- year highs of US$1,616.60 an ounce. Spot gold was trading near US$1,619 an ounce in late US trade. Iron ore rose by US$1.95 or 2.2% to US$91.10 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent59.0959.12-0.03-0.05-9.37
Oil - West Texas crude53.8853.490.390.73-7.96
Gold Spot $/OZ1,621.001,620.001.700.104.05
Silver Spot $/OZ18.4018.400.00-0.073.18
Iron Ore81.6081.500.100.16-9.14
Thermal Coal Newcastle68.6068.200.400.59-1.86
APAC Hard Coking Coal FOB161.00161.000.000.004.55
Aluminium ($US/t)1,6861,690-4.00-0.25-6.62
Copper ($US/lb)2.592.61-1.80-0.69-9.05
Lead ($US/t)1,9341,9304.000.21-1.00
Nickel ($US/t)12,58112,739-158.00-1.24-9.75
Zinc ($US/t)2,1002,112-12.00-0.58-14.86
Tin ($US/t)16,57016,51852.000.31-6.94
Uranium ($US/lb)25.0025.000.000.000.00
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords7,2557,23718.000.251.04
S&P/ASX 2007,1627,14518.000.251.36
ASX 24 Futures7,113
Australian Market Report

Thursday 20 February 2020 - close. Australia's share market has hit a record high - while the Australian dollar has sunk to a decade low after China's central bank cut interest rates. The benchmark S&P/ASX200 index finished on Thursday up 17.9 points, or 0.25 per cent, at a closing record of 7,162.5 after setting an intraday record of 7,197.2 in early afternoon trade. The broader All Ordinaries index gained 17.8 points, or 0.25 per cent, to 7,255.2.

Ashanti Headlines

ResApp Health Ltd: (RAP.ASX, 23.5cps, m.cap A$168.3m with 716.3m SOI (Post Placement, Cash $7.9m, Health Care Equipment and Services)

TGA Approval

  • ResApp Receives Australian Therapeutics Goods Administration (TGA) Approval for Smart phone based diagnostic test for adult respiratory disease
  • This diagnoses respiratory disease in both adults and children, is approved as a Class IIa medical device and is now listed on the Australian Register of Therapeutic Goods (ARTG).
  • Currently, diagnosis of acute respiratory disease is a complex, subjective process, combining clinical judgement with diagnostic aids such as auscultation with a stethoscope, imaging, blood and sputum tests.
  • ResAppDx-EU is a mobile software application to be used by clinicians for the diagnosis of lower respiratory tract disease, croup, pneumonia, asthma/reactive airway disease exacerbation, COPD exacerbation and bronchiolitis.

Capital Raise

  • Ashanti Capital and Morgan’s Financial acted as JLM’s for a well oversubscribed $5m capital raise at $0.20
  • ResApp’s CEO and Managing Director, Tony Keating, said “In response to a rapidly growing commercial pipeline, we will now accelerate our path to revenue by expanding our team on the ground in Europe at a greater pace. A stronger balance sheet also strengthens our negotiating position as we enter into deals with commercial partners. With a number of major milestones expected during the next six months, we are very excited by the company’s trajectory.”

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