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20 March 2020 08:02 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average20,08719,899188.000.95-31.26
S&P 5002,4092,39811.000.47-28.57
NASDAQ7,1516,990161.002.30-26.67
FTSE 100 Index5,1525,08171.001.40-30.73
DAX 308,6108,442169.002.00-36.98
CAC 40 Index3,8563,755101.002.68-36.40
Nikkei 225 (Japan)16,55316,727-174.00-1.04-29.50
HKSE21,70922,292-583.00-2.61-21.37
SSE Composite Index2,7022,729-27.00-0.98-10.83
S&P/TSX Composite Index12,17111,721449.003.83-32.18
NZ 509,1649,11550.000.55-24.04
US Volatility (Vix)72
Overseas Market Report

US sharemarkets lifted on Thursday in yet another volatile session. Investors were encouraged by moves by the US Federal Reserve and European Central Bank to boost liquidity in the financial system. After trading in a 1,266 point range, the Dow Jones index closed higher by 188 points or 1.0%. The S&P500 index rose by 0.5% and the Nasdaq gained 161 points or 2.3%. 

Global oil prices rose sharply from 18-year lows. Prices were supported in part by a statement from US President Donald Trump, saying that he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time. But most investors saw the bounce in price as a temporary situation, expecting a lift in output from major producers such as Saudi Arabia in coming weeks. Brent crude rose by US$3.59 or 14.4% to US$28.47 a barrel. The US Nymex price rose by US$4.85 or 23.8% to US$25.22 a barrel. 

Base metal prices were mixed on Thursday. Tin, zinc and copper rose by up to 2.4% while other metals fell by up to 3.2% with lead down the most. 

The gold futures price rose by US$1.30 an ounce or 0.1% to US$1,478.60 an ounce. Spot gold was trading near US$1,471 an ounce in late US trade. Iron ore fell by US25 cents or 0.3% to US$90.50 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent28.4724.883.5914.43-51.84
Oil - West Texas crude25.8925.220.672.66-51.86
Gold Spot $/OZ1,473.001,471.002.200.15-9.02
Silver Spot $/OZ12.1012.100.000.25-33.85
Iron Ore84.7084.600.200.213.99
Thermal Coal Newcastle66.2066.100.100.08-3.01
APAC Hard Coking Coal FOB157.00159.00-2.00-1.26-2.48
Aluminium ($US/t)1,6081,626-19.00-1.14-4.88
Copper Mar-18 ($US/lb)2.162.20-3.80-1.73-16.46
Lead ($US/t)1,6121,664-53.00-3.16-16.48
Nickel ($US/t)11,17411,318-145.00-1.28-12.29
Zinc ($US/t)1,8371,8289.000.51-13.02
Tin ($US/t)13,91013,578332.002.45-15.79
Uranium ($US/lb)24.0024.000.000.00-2.24
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords4,9314,809122.002.53-32.03
S&P/ASX 2004,9044,783121.002.54-31.53
ASX 24 Futures4,883
Australian Market Report

Thursday 19 March 2020 - close. The Australian stock market has shrugged off an emergency rate cut from the Reserve Bank, hitting a fresh four-year low in the process, while the Australian dollar has sunk to an 18-year low. The benchmark S&P/ASX200 finished Thursday down 170.3 points, or 3.44 per cent, to 4,782.9, while the broader All Ordinaries index sank 189.4 points, or 3.79 per cent, to 4,809.4. The ASX200 is now down 33.5 per cent in the past four weeks, and on Thursday came within 34.3 points of eclipsing its February 10, 2016, low of 4,706.7 - which would have set it back to levels last seen in July 2013.

Ashanti Headlines

Janison Education Group Ltd (JAN.ASX, 35.5cps, m.cap A$64.5m with 181.7m SOI, Cash c$6.0m (Education Technology)

  • JAN has announced its global partnership with D2L Corporation (D2L), one of the leading learning management systems providers to higher education institutions globally. Highlights below:
    • D2L provides learning solutions for millions of learners in schools, higher education, companies, and government around the world. D2L’s global operations are located across Canada, the United States, Europe, Australia, Brazil, and Singapore, with more than 1500 clients in 40 countries and learners in 148.  
    • Janison’s online exam platform, Janison Insights, can be provided by D2L to any of its client institutions as an integrated component of their online education suite.  
    • Janison Insights and the D2L LMS, Brightspace, will be seemlessly integrated to support institutions expanding the online learning platforms to incorporate online examinations.  
    • Go-to-market has commenced and the current market situation with COVID-19 amplifies the need for online full-tier learning services. This new partnership brings to market a holistic, integrated solution that can better address this need.
  • 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