BHP Group profits for year to June ring in at US$8bn
Work on the company's six major development projects is progressing well
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LON:BHP
BHP Group Limited is a global leader in the resources industry. Formed from a merger between BHP and Billiton, the company is a leader in the extraction and sales of most natural resources and is particularly strong in Iron Ore, Coking and Thermal Coal, Copper, Zinc, Oil & Gas, Diamonds and most materials key to the production of steel.
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Work on the company's six major development projects is progressing well
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The blue-chip benchmark closed down nearly 51 points, or 0.83%, at 6,076
The National Employment Savings Trust (Nest) has committed to fossil fuel divestment.
Fourth-quarter production was stronger than analysts expected as the group was less disrupted by the coronavirus pandemic than it anticipated
Monthly supermarket sector data is due from Kantar on Tuesday
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Other companies reporting in the week include a trio of mining majors, software firm Sage Group and telcos Vodafone and TalkTalk
It is now rated as 'neutral' by the Swiss bank and the price target drops to 1,450p.
“While some of the trends are long term, they matter for equity valuations today,” analysts said
David Lamont will join the mining firm in December, returning to the group after previously serving as CFO for the company’s carbon stell materials and energy coal businesses between 2001 and 2006
Despite an uncertain outlook for the commodities sector, the Swiss bank said they believed the mining giant's payout "can be sustained"
Some operations have been shuttered, but others have turned in record performances
Germany’s Deutsche Bank upgraded its stance on BHP to ‘buy’ from ‘hold’, while cutting its target price to1,450p from 1,750p
Oils bore the brunt of the market rout, but the mining sector was a close second
“We think it premature to aggressively ‘buy the dip’ due to the fluid and high-risk impact of COVID-19, but valuation support is now visible across the sector and decisive central bank policy easing lays positive foundations for commodities
The giant is waiting to see whether the virus will be contained by March
Markets are sensitive to China's increased significance in global trade flows
The copper price seems to be on the turn, but how sustainable is the upside?
New chief executive Mike Henry started in the role on 1 January 2020
In a normal year, the blue chip index might expect to see a dozen CEO departures
The new funding is for work related to the restart of one concentrator at Samarco, with the construction of a filtration plant expected to take around 12 to allow production to restart