close
Ashanti Mailing List

Join our distribution list for direct access to exclusive corporate opportunities

* Indicates a required field
Logo
Please enable images to view this content
25 March 2020 06:51 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average20,70518,5922.0011.37-23.55
S&P 5002,4472,237210.009.38-21.77
NASDAQ7,4186,861557.008.12-17.26
FTSE 100 Index5,4464,994452.009.05-22.40
DAX 309,7018,741959.0010.98-24.16
CAC 40 Index4,2433,914328.008.39-25.30
Nikkei 225 (Japan)18,09216,8881.007.13-19.96
HKSE22,66321,696967.004.46-15.73
SSE Composite Index2,7222,66062.002.34-9.65
S&P/TSX Composite Index12,57111,2281.0011.96-26.82
NZ 509,5669,109457.005.01-18.37
US Volatility (Vix)62
Overseas Market Report

US sharemarkets posted strong gains on Tuesday on signs that US Congress was closer to a stimulus deal. A proposal in the US House of Representatives to grant airlines and contractors a $40 billion bailout lifted the Dow Jones airlines index by 20.7%. Shares in Boeing rose 20.9% after its chief executive said that the 737 MAX jet will return to service by mid-year. The Dow Jones index rose by 2,113 points or 11.4% - the best percentage gain since 1933. The S&P500 index rose by 9.4% and the Nasdaq rose by 557 points or 8.1%. 

Global oil prices rose on Tuesday, although off session highs, on hopes that a US stimulus package may be agreed. Traders await weekly US inventory data from the American Petroleum Institute later on Tuesday. Brent crude rose by US12 cents or 0.4% to US$27.15 a barrel after being up 5%. The US Nymex price rose by US65 cents or 2.8% to US$24.01 a barrel. 

Base metal prices were mixed on Tuesday. Copper, nickel and tin rose by up to 4% with copper up the most. Other metals fell by up to 1.8% with lead down the most. 

The gold futures price rose by US$93.20 an ounce or 5.9% to US$1,660.20 an ounce. Spot gold was trading near US$1,627 an ounce in late US trade. Iron ore rose by US$4.10 or 5.1% to US$84.30 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent27.1527.030.120.44-51.78
Oil - West Texas crude24.8224.010.813.37-50.26
Gold Spot $/OZ1,632.001,632.00-0.20-0.01-0.19
Silver Spot $/OZ14.4014.300.201.10-19.79
Iron Ore83.0083.000.000.01-0.67
Thermal Coal Newcastle66.5066.000.500.68-2.21
APAC Hard Coking Coal FOB149.00149.000.000.00-6.29
Aluminium ($US/t)1,5141,527-13.00-0.83-9.64
Copper ($US/lb)2.202.127.803.68-14.73
Lead ($US/t)1,5661,595-29.00-1.82-16.47
Nickel ($US/t)11,18810,806382.003.53-9.36
Zinc ($US/t)1,8031,811-8.00-0.44-11.04
Tin ($US/t)13,47413,335139.001.04-18.52
Uranium ($US/lb)26.0024.002.006.374.86
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords4,7534,564189.004.15-31.64
S&P/ASX 2004,7364,546190.004.17-31.03
ASX 24 Futures4,992
Australian Market Report

Tuesday 24 March 2020 - close. Australia's share market has rallied from a near eight-year low with the US Federal Reserve taking drastic action to shore up markets and new coronavirus cases seeming to plateau in Italy. The benchmark S&P/ASX200 gained 122 points in the final half hour of trade to close Tuesday up 189.7 points, or 4.17 per cent, at 4,735.7, while the All Ordinaries index climbed 189.2 points, or 4.15 per cent, to 4,753.3.

Ashanti Headlines

Cyprium Metals Limited (CYM.ASX, 10cps, m.cap A$5.6m with 56.1m SOI, Cash $3.5m, Copper Developer)

  • CYM has re-tested (via step-out drilling) an historical intersection of 2m at 10% Cu, 3.2g/t Au and 92g/t Ag at Eelya South. 
  • The new drilling result was 3m at 3.8% Cu, 6.7g/t Au and 81g/t Ag from 59m. 
  • Following this promising result, Cyprium are now planning further drilling along trend as the area has had very limited drilling activity historically. 
  • The Eelya South prospect is only 6km from the Hollandaire deposit so any expansion of this high grade mineralised zone would be easily incorporated into any potential development.
  • Executive Director Barry Cahill commented “We are very pleased with the drilling programme at Eelya South, in particular with the 3 metres at 3.78% copper intersection result whilst testing drilling targets in an area that previously been subject to very limited drilling activities. These shallow high-grade copper intersection results from the very prospective Eelya South prospect are within 6 kilometres of the Hollandaire copper deposits meaning the deposits are well within economic trucking distances of each other. We are continuing our drilling activities which are focused on expanding the mineralised copper footprint at the Cue Copper Project to bring us closer to the critical mass required to advance this project to a developmental stage. We look forward to updating the market with the results of the current drilling programmes once the results have been received.”
  • Please contact your adviser of the desk on +61 8 63197807 should you wish to discuss further.


Have a question? admin@ashanticapital.com.au

ERA Communications