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New Rio Tinto (RIO) CEO Sam Walsh is given a cautious welcome by the market, as shares move...

New Rio Tinto (RIO) CEO Sam Walsh is given a cautious welcome by the market, as shares move off early lows in London trading, now -1.3% - substantially less wiped off the market cap than the $14B writedown that played a part in Tom Albanese's ouster. Some see the weakness as a buying opportunity; Citi upgrades RIO to Buy from Neutral, believing the shakeup "could significantly realign Rio Tinto with shareholder interests through reduced M&A and reduced capital expenditure spend."
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Comments (2)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    RIO is off a scant 0.16% at this point.

     

    I exepected a lot worse.

     

    Thanks Citi.
    17 Jan 2013, 11:52 AM Reply Like
  • Thomas Azzara
    , contributor
    Comments (458) | Send Message
     
    The price of iron ore with 62 per cent iron content, the industry benchmark, fell $US7.50 ($7.13) today (1/17/13) a tonne, its biggest daily drop since November 2011, to $US145.40 a tonne, according to data provider Steel Index.
    17 Jan 2013, 02:13 PM Reply Like
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