The DR inbox today was full of letters from readers concerned about our mental and spiritual health. It caught us a bit off guard. So we’ll turn today’s letter over to you…
November 28th, 2008 | Dan Denning | 2 comments | ContinuedAll Posts Tagged With: "bhp"
Macroeconomic Indicators Show That Chinese Growth Has Softened
BHP wrote in it ASX release that, “China has not been immune to the global slowdown. Macroeconomic indicators show that Chinese growth has softened during the quarter, albeit from very high levels. We expect volatility and uncertainty to continue in the short term.” Translation, “Whoa. Would you look at that? Well, still, pretty amazing story in China. We’ll just have to buckle up until this whole global financial collapse is behind us.”
October 22nd, 2008 | Dan Denning | 1 comment | Continued
Oil Prices Under $70
One other reason the stock probably fell is that the company studiously avoided saying anything about global oil prices or a global recession. Oil futures were down almost US$6 in New York trading to close at $69.85. That’s the first time oil’s closed below US$70 since August 23rd of 2007. Is Woodside a Crusoe stock? Well, it depends on what your long-term view of energy is, doesn’t it?…
October 17th, 2008 | Dan Denning | 0 comments | Continued
BHP Billiton (ASX: BHP) to Report Second Half Results Today
Melbourne-based resource giant BHP Billiton (ASX: BHP) is scheduled to report its second half results today. Analysts expect the company to report a 30% gain in second half profit to $9.4 billion. That profit growth was driven mainly by higher prices in the petroleum division and production increases in iron ore. Yet the stock is down 4%, year to date. And commodities are coming off a horrible month.
August 18th, 2008 | Dan Denning | 1 comment | Continued
RBA Leaves Rates Unchanged, Rio Wraps Up Negotiations
The Reserve Bank of Australia isn’t moving rates up yet. The Bank left them at 7.25% after meeting yesterday in Sydney. Later this month it will review CPI data. But for now, the Bank seems satisfied that its rate-hike campaign has slowed demand in the Australian economy.
July 2nd, 2008 | The Daily Reckoning | 0 comments | Continued
BHP Billiton, Rio Tinto and the American Civil War
The S&P ASX/200 limped home yesterday to finish the fiscal year down 16.9%. Let’s call it 17. It was the first down year since 2002, or 1 BB (Before the Boom). If not for the iron-ore solid performance of BHP Billiton (ASX: BHP)-up 24.7% on the financial year-it would have been much worse for the ASX 200. Rio Tinto (ASX: RIO) did its part to hold the line for the resource sector as well. Rio was up 38.2% for year, from $98 to $135.50.
July 1st, 2008 | Dan Denning | 1 comment | Continued
The Iron Ore Pricing War Between China & Australia
There are four fronts in the battle for pricing power in the iron ore market: BHP Billiton (ASX: BHP), Rio Tinto (ASX: RIO), Fortescue (ASX: FMG), and spot market for iron ore. It’s hard to tell who is winning…or what losing really means. Andrew Forrest says he’d welcome Chinese investors on the Fortescue share register. But spots on the register are already at a premium. Over 70% of Fortescue’s issued capital is owned by just five major shareholders.
May 16th, 2008 | Dan Denning | 1 comment | Continued
BHP Billiton: The Oil Company That is Not an Oil Company
Is BHP Billiton (ASX: BHP) a serious oil player? Or, let’s put it this way. Does the fact that oil touched US$127 in futures trading contribute to BHP Billiton’s earnings and its war chest for its pursuit of Rio Tinto (ASX: RIO)? BHP thinks the answer is yes. BHP Billitons’s oil projects showed up in a research report we reviewed yesterday. The report tried to answer the question of where future global oil production would come from. There is a 32 million barrel per day gap between what the world…
May 14th, 2008 | Dan Denning | 0 comments | Continued
Chinese Foreign Mining Acquisition Equal to All of 2007
Spot coking coal (steel marking) prices have quadrupled in the last 12 months, and in the last two months they’ve doubled. The value of announced cross-border Chinese foreign mining acquisitions so far this calendar year…
April 14th, 2008 | Dan Denning | 0 comments | Continued
Rumours Swirl Over Chinese Equity Stake in BHP Billiton
The rumour in the Australian that China Inc. is prepared to spend up to $22 billion to secure a 10% equity stake in BHP Billiton (ASX: BHP) remains just that, a rumour.
April 11th, 2008 | Dan Denning | 4 comments | Continued