Bhp Share Discussion Threads

[waldron] 13/9/2019 19:35

Thursday 12 September 2019 7:53 pm
Currency and commodities trades to be taxed under new Labour proposal
August Graham

The Labour Party today endorsed a proposal which would levy a £2.1bn a year tax on currency and commodity trading.

Shadow Chancellor John McDonnell said the party will adopt a plan proposed by the Progressive Economy Forum think tank.


It would expand the 0.5 per cent stamp duty on buying and selling shares to any transactions in foreign exchanges and commodities.

“This is the way that in future we can ensure that we have a finance sector which is vibrant, meaningful and contributes constructively, not just to our own economy, but to the global economy as well,” McDonnell said.

McDonnell called for a wider debate on introducing financial transaction taxes around the world.

“We have the opportunity to lead that global movement of reform,” he said, adding that the proposals are “unchallengeable.”

However, the move attracted criticism from City groups.

Miles Celic, the chief executive of the City UK, said the financial services industry accounts for 14 per cent of UK tax revenue, and said foreign financial centres are always trying to attract business and jobs away from London.

“A tax on financial transactions would be bad for business, bad for investors, bad for savers, and bad for the economy,” he said.

Labour said that the tax applies to those resident in the UK for tax purposes, rather than trades being made in London. So a US trader in New York trading through London would not have to pay the tax. While a Brit in London trading in Hong Kong would.



UK Finance said the tax would also hit savers, homeowners and small businesses.

“At a time of great uncertainty for business we would encourage policymakers to focus on proposals that would support the growth and competitiveness of the UK’s financial sector, helping the industry to grow and employ more people right across the UK,” said its chief executive Stephen Jones.

[waldron] 13/9/2019 18:31

Iron Ore 94.77 USD 0.63(0.66%)
Gold COMEX 1,499.70 -0.51%
Silver COMEX 17.64 -2.92%
Platinum NYMEX 953.70 +0.12%
Copper COMEX 2.70 +2.18%
Brent Crude Oil NYMEX 60.32 -0.10%
Gasoline NYMEX 1.54 +0.24%
Natural Gas NYMEX 2.62 +0.38%
(WTI) 55.03 USD -0.04%

Rio Tinto
4,425.5 +2.16%


Bhp
1,836.4 +1.81%


Anglo American
1,985.6 +2.73%


Glencore
261.35 +3.48%



certainly a good week for all miners

[waldron] 12/9/2019 17:27

Iron Ore 94.14 USD 1.80(1.91%)
Gold COMEX 1,512.40 +0.61%
Silver COMEX 18.19 +0.08%
Platinum NYMEX 957.00 +1.79%
Copper COMEX 2.63 +0.76%
Brent Crude Oil NYMEX 59.77 -1.71%
Gasoline NYMEX 1.54 -2.08%
Natural Gas NYMEX 2.57 -0.66%
(WTI) 54.67 USD -2.64%

Rio Tinto
4,332 +1.01%

Bhp
1,803.8 +1.51%

Anglo American
1,932.8 +2.64%

Glencore
252.55 +0.24%

[waldron] 11/9/2019 17:53

Iron Ore 92.34 USD 0.97(1.05%)
Gold COMEX 1,503.40 +0.28%
Silver COMEX 18.17 -0.09%
Platinum NYMEX 941.40 +0.51%
Copper COMEX 2.60 -0.93%
Brent Crude Oil NYMEX 60.68 -2.73%
Gasoline NYMEX 1.55 -1.73%
Natural Gas NYMEX 2.61 -0.31%
(WTI) 56.04 USD -3.30%

Rio Tinto
4,288.5 +0.88%

Bhp
1,777 +0.11%

Anglo American
1,883 +1.44%

Glencore
251.95 +1.25%

[waldron] 10/9/2019 17:14

Iron Ore 91.37USD 0.14(0.15%)
Gold COMEX 1,501.30 -0.65%
Silver COMEX 18.18 +0.07%
Platinum NYMEX 939.80 -1.35%
Copper COMEX 2.63 +0.04%
Brent Crude Oil NYMEX 63.59 +1.60%
Gasoline NYMEX 1.61 +1.39%
Natural Gas NYMEX 2.63 +0.23%
(WTI) 58.45 USD +0.33%


Rio Tinto
4,251 +0.77%

Bhp
1,775 +0.94%

Anglo American
1,856.2 +0.04%

Glencore
248.85 +2.51%

[waldron] 09/9/2019 16:58

Iron Ore 91.23USD 1.79(1.96%)
Gold COMEX 1,510.20 -0.35%
Silver COMEX 18.13 +0.03%
Platinum NYMEX 949.60 -0.35%
Copper COMEX 2.63 -0.15%
Brent Crude Oil NYMEX 62.80 +1.90%
Gasoline NYMEX 1.59 +1.05%
Natural Gas NYMEX 2.63 +2.98%
(WTI) 58.13 USD +2.29%

Rio Tinto
4,218.5 -0.44%

Bhp
1,758.4 -0.06%


Anglo American
1,855.4 +0.40%

Glencore
242.75 +0.48%

[waldron] 06/9/2019 16:51

Iron Ore86.24 USD -4.48(-5.19%)
Gold COMEX 1,529.20 +0.24%
Silver COMEX 18.76 -0.25%
Platinum NYMEX 965.60 +0.20%
Copper COMEX 2.64 -0.15%
Brent Crude Oil NYMEX 60.67 -0.46%
Gasoline NYMEX 1.55 +0.42%
Natural Gas NYMEX 2.54 +1.81%
(WTI) 55.75 USD -0.91%




Rio Tinto
4,239 +0.44%


Bhp
1,760.8 +0.58%

Anglo American
1,850.8 +0.81%


Glencore
242.85 +1.40%

[waldron] 05/9/2019 16:55

Iron Ore 90.72 USD -0.85(-0.94%)
Gold COMEX 1,528.40 -2.05%
Silver COMEX 18.89 -3.39%
Platinum NYMEX 964.90 -1.96%
Copper COMEX 2.64 +1.83%
Brent Crude Oil NYMEX 62.14 +2.37%
Gasoline NYMEX 1.57 +2.59%
Natural Gas NYMEX 2.48 -0.64%
(WTI) 57.46 USD +2.64%



Rio Tinto
4,220.5 +0.31%


Bhp
1,750.6 -3.09%


Anglo American
1,836 +0.99%


Glencore
239.5 -1.38%

[florenceorbis] 05/9/2019 10:29

BHP Group PLC (BHP.LN) on Thursday said it didn't endorse resolutions proposed by shareholders which called for it to suspend its membership of industry lobby groups that advocate for policies at odds with the Paris climate change agreement.

On Tuesday, the Australasian Centre for Corporate Responsibility, a nonprofit group that promotes ethical investment, filed a resolution backed by investors including the Church of England Pensions Board and Grok Ventures, that called on BHP, the world's biggest miner by value, to stop funding aggressive lobby groups for the coal industry.

The ACCR had filed a special resolution to amend BHP's constitution so that it will be able to file the second ordinary resolution that calls for the company to abandon its support of coal lobbyists.

A special resolution needs at least 75% of shareholder votes to pass and, if it fails, the ordinary resolution won't be valid. However, in most cases, corporations will still publish the voting results for the second resolution regardless of whether the special resolution passes or not.

BHP said it didn't endorse either resolution. It said the ordinary resolution makes no reference to the broader benefits that industry associations can provide and said its membership in certain groups allows it to lead, influence and strengthen standards in a number of areas including environmental protection.

As such, the company recommended that shareholders vote against both of the proposed resolutions.

The company said it is currently reviewing its industry associations and will publish the outcome of the review. It argued that the ordinary resolution incorporates actions it has performed since 2017.

Responding to global warming remains a priority governance and strategic issue for BHP and the company will continue to take action, the miner said.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

September 05, 2019 05:08 ET (09:08 GMT)

[ariane] 04/9/2019 18:12

Sharecast

Broker tips: RBS, Anglo American, BHP, Kainos
rbs gogarburn building

Analysts at Berenberg lowered their target price on retail bank The Royal Bank of Scotland from 340p to 280p on Wednesday after management conceded that the lender was now unlikely to achieve a 12.0% return on tangible equity by 2020.

Berenberg said that despite a challenging environment, RBS' strategy was delivering "profitable growth, meaningful cost reductions and substantial capital returns".

But the German bank pointed out that for many investors, this was simply "not enough". In particular, Berenberg said many were struggling to look beyond the current margin pressure, which had prompted RBS' board to accept that it would most likely be unable to meet its return on tangible equity targets in time.

The broker's analysts reduced their full-year 2020-21 EPS estimates for RBS by approximately 6%, mainly driven by lower net interest margins, compounded by lower expected buybacks. Berenberg's 2019 estimates, on the other hand, did rise modestly, but only reflecting non-operational effects.

"Following these adjustments, we believe consensus EPS estimates remain 4-6% too low," said Berenberg.

However, while disappointing, Berenberg believed the share price reaction to the news had been "too severe", particularly considering RBS' double-digit dividend yield.

"We believe RBS is able to deliver a double-digit dividend yield, alongside share buybacks of circa £3.0bn over three years. However, these prospective returns are being ignored," they wrote.

Berenberg, which reiterated its 'buy' rating on the group despite the target price cut, highlighted that RBS' efforts to bolster returns and offset revenue headwinds saw operating costs fall by roughly £170.0m during the first half.

Guidance from the lender that full-year restructuring costs should be towards the lower end of the previously guided range of £1.2bn-1.5bn provided the analysts with further comfort.

Deutsche Bank revised its ratings on London-listed miners on Wednesday as it said stocks were due a rebound after the summer selloff.

"Like most cyclical sectors, mining corrected sharply through the summer months," it said. "Risk appetite has collapsed and global growth fears are back at the forefront. While uncertainty and macro risks are high, we see scope for a tactical rebound on a six-month horizon."

DB added that iron ore prices have reset to more realistic levels and valuations are now someway below its mid-cycle targets.

"Our mining valuation composite is now sending a clear buy signal; buying at current valuation levels has yielded an average six-month return of 23% and the sector has moved up in relative and absolute terms on every occasion," it said.

"The pervasive fear in the market is that we enter a 2015 type slowdown which saw negative China and global steel demand for several quarters. While we expect a deceleration in China steel demand in the year ahead (2% in 2020 from 5% in 2019) we think a 2015 style slowdown is an overly pessimistic scenario."

The bank said Anglo American remains its top pick. "The business is well diversified, valuation compelling and, at the current share price, the market is getting the 30% growth by 2022E almost for free."

Deutsche upped its stance on BHP Group to 'hold' from 'sell', cutting the price target to 1,750p from 1,900p following the recent share price correction.

"Our view that BHP lacks structural growth drivers is unchanged, however, capital discipline is holding and dividend levels should remain robust through the cycle," it said.

[waldron] 04/9/2019 16:48

Iron Ore 92.33USD 2.78(3.01%)

Gold COMEX 1,555.50 -0.03%
Silver COMEX 19.45 +1.11%
Platinum NYMEX 982.80 +2.85%
Copper COMEX 2.59 +2.53%
Brent Crude Oil NYMEX 60.41 +3.69%
Gasoline NYMEX 1.52 +3.59%
Natural Gas NYMEX 2.44 +1.84%
(WTI) 56.02 USD +4.07%

Rio Tinto
4,213 +2.03%

Bhp
1,807.6 +2.44%


Anglo American
1,820.8 +2.70%

Glencore
243.85 +3.35%

[waldron] 03/9/2019 16:51

Iron Ore 89.55 USD -1.36(-1.52%)
Gold COMEX 1,556.20 +1.18%
Silver COMEX 19.20 +3.37%
Platinum NYMEX 960.70 +2.91%
Copper COMEX 2.52 -0.47%
Brent Crude Oil NYMEX 57.63 -1.67%
Gasoline NYMEX 1.46 -3.00%
Natural Gas NYMEX 2.39 +1.96%
(WTI) 53.41 USD -2.29%


Rio Tinto
4,133 -0.34%


Bhp
1,767.2 +0.09%


Anglo American
1,775.8 -0.36%


Glencore
236 -0.38%

[adrian j boris] 03/9/2019 11:58

Iron-ore prices posted their biggest one-month fall in almost eight years as China's huge steel engine cools and global shipments of the commodity rise.

The price fell 27% to $85.85 a metric ton by the end of August, the most since October 2011, according to S&P Global Platts. The collapse was triggered by global trade tensions after President Trump threatened to impose new tariffs on Chinese goods, some of which went into effect Sunday. The drop deepened amid sluggishness among the Chinese mills responsible for producing more than half the world's steel, and concerns over future demand.

While the decline in prices eases pressure on steelmakers by reducing the cost of a key ingredient, it will erode the profits of large miners including BHP Group Ltd. and Rio Tinto PLC. The outlook for the commodity's price meanwhile remains muddy, with market-watchers waiting for signals in China's robust property market and Beijing's efforts to stimulate economic growth for signs of a rebound.

"The violence of it has surprised me," said Serafino Capoferri, a commodity strategist at Australian investment bank Macquarie. "I wasn't expecting such a plunge."

August's dive almost erased a rally that pushed the market as high as $126 a ton in July, although prices have edged up to $91 a ton in recent days on better Chinese economic data, looser curbs on some steel production there and hopes of further stimulus.

Analysts are divided on where iron-ore prices head next.

Both of the forces that drove a surge in iron-ore prices at the start of 2019 have eased. Chinese steel production fell in June and July, albeit from record rates, and supplies of iron ore have picked up, particularly from Brazil.

Vale SA, historically the industry's top exporter, suspended a big chunk of production following a deadly dam collapse in January, but restarted some operations in June and plans to gradually resume more over the remainder of this year.

Chinese mills, which buy seven in every 10 tons of iron ore traded world-wide, have been buffeted on a number of fronts. The nation's trade war with the U.S. has rattled confidence in the outlook for China's already-slowing economic growth. The mills also face weaker profit margins, a depreciating yuan and environmental restrictions, all of which have exacerbated the conventional summer lull in steel demand.

A slowdown in China's housing market -- which accounts for roughly 40% of China's steel demand -- may push iron-ore prices as low as $50 a ton in the not-too-distant future, according to Liberum. The investment bank says that infrastructure projects designed to jump-start economic growth won't use enough steel to offset a fall in real estate activity.

By contrast, Goldman Sachs sees iron-ore prices rebounding to $115 a ton within three months. Ample financing will be available to support property investments this year, and new Chinese building-design standards require the use of more steel, the Wall Street firm said.

The bank predicts that the international iron-ore market will log its first supply deficit in seven years, and the widest since at least 2000.

Iron ore's drop, however temporary, offers some relief for steelmakers, which were grappling with sharply higher prices for the raw material at a time when steel prices were softening. U.S. Steel recently said it was struggling with rising raw-material costs in Europe as it idled one furnace on the continent and two in the U.S.

Booming iron-ore prices have boosted earnings at BHP and Rio Tinto, the world's two largest listed miners by market value, and enabled them to lavish cash on shareholders.

"We are not walking away from the fact that we do expect China to slow slightly, but we are also expecting infrastructure to come through a bit more strongly in the second half," Chris Salisbury, chief executive of Rio Tinto's iron-ore division, said in a recent interview. "We are cautiously optimistic."

BHP is expecting more jolts, saying it could take up to three years for iron-ore supply to normalize from recent disruptions. Reporting a doubling of annual profit, the miner said "prices are likely to be volatile as that adjustment plays out."

Both miners declined to comment further on the impact of falling prices. But even with the August drop, prices remain above long-term averages. Rio Tinto's margin on Australian iron-ore sales broke above 70% in the first half of 2019.

The end of summer may herald higher steel output once again, said Argonaut Securities analyst Helen Lau. "If production starts to recover, iron-ore prices may also be able to recover a bit," she said.

Write to Rhiannon Hoyle at [e-mail] and Joe Wallace at [e-mail]



(END) Dow Jones Newswires

September 03, 2019 06:20 ET (10:20 GMT)

[waldron] 02/9/2019 16:41

Iron Ore 84.67 USD -6.24(-7.37%)
Gold COMEX 1,534.60 +0.34%
Silver COMEX 18.60 +1.38%
Platinum NYMEX 931.10 -0.06%
Copper COMEX 2.54 -0.55%
Brent Crude Oil NYMEX 58.39 -1.45%
Gasoline NYMEX 1.50 -2.20%
Natural Gas NYMEX 2.35 +1.08%
(WTI) 54.55 USD -0.44%


Rio Tinto
4,183.5 +0.82%


Bhp
1,773.2 +0.01%


Anglo American
1,793.1 +1.07%


Glencore
238.875 +0.81%

[loganair] 31/8/2019 10:33

I am surprised the fracking companies are able to still keep going in the States as most of them are still losing a huge amount of money and will continue to do so until West Texas can maintain $65 TO $70 per bbl, currently around $56.

Even at $70 around half the fracking oil companies will still be losing money.

[waldron] 30/8/2019 17:00

Iron Ore 90.91 USD -0.25(-0.27%)
Gold COMEX 1,537.40 +0.03%
Silver COMEX 18.49 +0.91%
Platinum NYMEX 937.80 +1.93%
Copper COMEX 2.56 -0.62%
Brent Crude Oil NYMEX 58.83 -2.74%
Gasoline NYMEX 1.51 -3.99%
Natural Gas NYMEX 2.29 -0.09%
(WTI) 54.88 USD -2.95%


Rio Tinto
4,141.5 +2.44%


Bhp
1,770.2 +2.32%


Anglo American
1,775 +2.08%

Glencore
236.65 +2.18%

[waldron] 29/8/2019 16:48

Iron Ore 91.16 USD -0.47(-0.52%)
Gold COMEX 1,545.80 -0.21%
Silver COMEX 18.58 +0.67%
Platinum NYMEX 934.30 +2.79%
Copper COMEX 2.58 +0.78%
Brent Crude Oil NYMEX 60.20 +0.45%
Gasoline NYMEX 1.58 +0.65%
Natural Gas NYMEX 2.29 +2.88%
(WTI) 56.42 USD +1.04%


Rio Tinto
4,046.5 +1.44%

Bhp
1,728.4 +0.96%

Anglo American
1,741.6 +1.40%

Glencore
232.85 +3.40%

[loganair] 29/8/2019 10:47

The price of oil is in what is called the 'Sweet Spot, at the moment, $60 to $65 a price that is good for both the producers and the countries that import oil.

Interestingly to read that between 2014 and 2018 the oil companies lost a combined $90bln on their Fracking of oil and gas in the USA and the majority of them are still losing money as only the very best fracking wells are making any money at the moment.

[waldron] 28/8/2019 16:59

Iron Ore 91.63 USD -0.43(-0.47%)
Gold COMEX 1,546.20 -0.36%
Silver COMEX 18.23 +0.42%
Platinum NYMEX 901.80 +3.87%
Copper COMEX 2.56 +0.33%
Brent Crude Oil NYMEX 60.09 +1.80%
Gasoline NYMEX 1.57 +1.81%
Natural Gas NYMEX 2.25 +2.83%
(WTI) 56.08 USD +0.94%


Rio Tinto
3,989 +1.39%

Bhp
1,712 +2.36%

Anglo American
1,717.6 +1.61%

Glencore
225.2 +0.63%

[waldron] 27/8/2019 16:35

Iron Ore 92.06 USD -0.39(-0.42%)
Gold COMEX 1,550.70 +0.88%
Silver COMEX 18.05 +2.32%
Platinum NYMEX 866.40 +1.00%
Copper COMEX 2.56 +0.45%
Brent Crude Oil NYMEX 58.72 +0.03%
Gasoline NYMEX 1.52 +0.94%
Natural Gas NYMEX 2.20 -1.52%
(WTI) 54.01 USD +0.45%


Rio Tinto
3,920.5 -0.10%


Bhp
1,672.2 -0.49%

Anglo American
1,687.8 +1.27%


Glencore
223.85 -0.73%

[loganair] 26/8/2019 23:06

BHP Group - An FTSE 100 share that seems to be currently undervalued is diversified miner BHP Group (LSE: BHP). The company faces an uncertain future, with the potential for a slowdown in the rate of global GDP growth expected to cause investors to become less positive about its financial outlook.

Despite this, BHP could offer long-term growth potential. Its valuation suggests investors may have factored in the risks faced by the business, with its P/E ratio of 9.6 relatively low compared to its historic range.

Unlike some of its mining sector peers, the company offers a significant amount of diversity in terms of its geographic exposure and the commodities which it mines. While this may not prevent a share price fall should the global economic outlook deteriorate, it could help the stock to outperform many of its industry peers.

With a dividend yield of 7.9% that’s covered 1.3 times by profit, the mining company’s income investing prospects appear to be attractive. While less robust than other high-yielding FTSE 100 shares, the risk/reward ratio offered by the business may mean it has the capacity to produce high returns over the long run, helping you to retire early.