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20 November 2018 07:50 AM
Overseas Market ReportCurrent
Weekly %
Dow Jones Industrial Average25,0170.00
S&P 5002,6910.00
FTSE 100 Index7,0010.00
DAX 3011,2450.00
CAC 40 Index4,9850.00
Nikkei 225 (Japan)21,8210.00
SSE Composite Index2,7040.00
S&P/TSX Composite Index15,0710.00
NZ 508,7720.00
US Volatility (Vix)20
Overseas Market Report

US sharemarkets were weaker on Monday. Technology stocks fell on concern for Apple iPhone demand. Also in focus were worries on US-China trade negotiations. The APEC meeting of Asian leaders concluded over the weekend without agreement on a communiqué. Shares in Apple fell by 4%. And shares in trade sensitive Boeing lost 4.5% with Caterpillar down 3.1%. At the close the Dow Jones was down by 396 points or 1.6%. The S&P500 index was lower by 1.7% and the Nasdaq index was lower by 219 points or 3.0%.

Global oil prices were slightly firmer on Monday. Investors continued to debate whether the global market would become over supplied. However, Reuters noted that "losses were muted as investors eyed potential sanctions on Iran from the European Union, a possible production cut from OPEC and slightly bullish storage drawdown in U.S. crude stocks." Energy supplier Genscape reported that crude inventories fell in the past week. Brent crude rose by US3 cents to US$66.79 a barrel and the US Nymex price rose by US30 cents to US$56.76 a barrel.

Base metal prices were mixed on the London Metal Exchange on Monday. Tin, copper and zinc rose by up to 1.4%. nickel, aluminium and lead fell by up to 1.6%.

The gold futures price rose by US$2.30 an ounce or 0.2% to $1,225.30 an ounce. The spot gold price was trading near US$1,224 an ounce in late US trade. Iron ore rose by US35 cents or 0.5% on Monday to US$75.45 a tonne.

Weekly %
Oil Brent66.790.00
Oil - West Texas crude57.420.00
Gold Spot $/OZ1,224.000.00
Silver Spot $/OZ14.400.00
Iron Ore73.700.00
Thermal Coal Newcastle103.000.00
Coking Coal FOB ECP AUS0.000.00
Aluminium ($US/t)1,9160.00
Copper Mar-18 ($US/lb)2.790.00
Lead ($US/t)1,9840.00
Nickel ($US/t)11,1080.00
Zinc ($US/t)2,6970.00
Tin ($US/t)19,6350.00
Uranium ($US/lb)29.000.00
Australian Market ReportCurrent
Weekly %
ASX All Ords5,7350.00
S&P/ASX 2005,6440.00
ASX 24 Futures5,662
Australian Market Report

Monday 19 November - close. The Australian share market has closed lower, weighed down by APEC trade tensions and a financial sector hit by more banking woes and the loss of a significant contract for Medibank Private. The benchmark S&P/ASX200 index was down 36.9 points, or 0.64 per cent, at 5,693.7 at 1630 AEDT on Monday, while the All Ordinaries was down 36.4 points at 5,786.4.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 63cps, m.cap A$94.8m with 150.5m SOI, Cash A$15.5m (following placement), Polymetallic Explorer / Developer)

  • ADT has announced it has completed a Placement to institutional investors and existing shareholder, Sandfire Resources NL.
  • The Placement raised a total of A$10.8 million from the issuance of approximately 19.7 million CHESS Deposit Interests at A$0.55 per New CDI. Post completion of the Institutional Placement, the Company will have approx. 150.5 million CDIs on issue.
  • The Placement was strongly supported by existing shareholders and introduced a number of new, high quality domestic and international investors to the ADT share register
  • CEO Geraint Harris commented, “We are delighted with the outcome of the Institutional Placement which generated exceptional demand from leading domestic and international institutional investors. We are very pleased by the support shown by our existing institutional shareholders and Sandfire’s continued support for Adriatic through maintaining its stake. Cash in bank following the Placement is AUD $15.5m and Adriatic is now fully funded to accelerate its aggressive exploration program and development studies. The exploration focus will be drilling at Rupice (including the high grade northern plunge) and its new & existing regional prospects across wider Vareš region associated with the recent Concession Annexure expansion.”
  • Ashanti Capital acted as Lead Manager to the Placement.
  • A link to the full announcement can be found here and new investor presentation here
  • Please contact the desk on +61 8 6169 2668 should you wish to discuss further.

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