Market Currents

• Friday, November 27, 2009

• 08:55 AM BHP Billiton (BHP) CEO Marius Kloppers says demand from China's steel sector remains surprisingly strong. Annual contract iron ore price talks between the world's biggest miners and steelmakers are getting underway; Kloppers' remarks may help boost expectations that miners will push for a sizable increase in price. 1 Comment

• Monday, November 9, 2009

• 09:00 AM Premarket gainers: EWBC +51%. ARIA +14%. RSH +11%. FUQI +10%. SAY +9%. TSFG +7%. NCS +7%. JASO +6%. DISH +6%. CVM +6%. AIB +6%. ANF +6%. RTP +5%. MBI +5%. NG +4%. LVS +4%. SLW +4%. HL +4%. GFI +4%. SWKS +4%. BHP +4%. FAS +4%. TGB 4%. XOMA +4%. Comment!

• Friday, November 6, 2009

• 08:15 AM Might we see a renewed BHP Billiton (BHP) bid for Rio Tinto (RTP)? 1 Comment

• Wednesday, November 4, 2009

• 13:28 PM Despite the breakdown of the Xstrata (XSRAF.PK)-Anglo American (AAUKY.PK) and BHP Billiton (BHP)-Rio Tinto (RTP) deals, energy and resources M&A activity could get back to pre-recession levels by 2011, says Deloitte in its report Energy Predictions 2010; the rise of state-backed rivals is putting pressure on mining groups. 1 Comment

• Monday, October 19, 2009

• 09:11 AM Potash (POT) would be a sensible addition to BHP Billiton's (BHP) portfolio, Bank of America Merrill Lynch says, noting a 30% premium to POT's share price could add 13% to BHP's earnings early on. "BHP did not use its balance sheet to its advantage during the downturn," firm says. "Negative sentiment regarding Potash gives BHP a second chance at acquiring assets at a cycle low." POT +3% premarket. Comment!

• Tuesday, September 8, 2009

• 09:00 AM Premarket gainers: CBY +42%. ORH +25%. HMY +9%. NG +8%. STM +7%. GFI +7%. LTXC +7%. SLT +6%. AUO +6%. NXG +6%. HL +6%. VICL +6%. LYG +6%. CCL +6%. STP +6%. ALV +6%. EGO +6%. NGD +5%. LVS +5%. PAL +5%. PHG +5%. AUG +5%. NOK +5%. MT +5%. MPEL +5%. BHP +5%. GE +5%. ING +4%. GBG +4%. YGE +4%. MU +4%. RMBS +4%. GSS +4%. FNM +4%. ALU +4%. JASO +4%. FCX +4%. NVAX +4%.
  Losers: OSIR -40%. KFT -5%. MCO -5%. AIG -4%. Comment!

• Monday, August 17, 2009

• 07:55 AM The China Iron & Steel Association concludes talks with Fortescue (FSUMF.PK), winning a 35% reduction in iron ore prices. China plans to ask Vale (VALE), Rio Tinto (RTP) and BHP (BHP) for similar concessions, backing down from earlier demands for a 45% price cut. Comment!

• Friday, August 14, 2009

• 08:50 AM Sources say BHP Billiton (BHP) has hired Bank of America-Merrill Lynch (BAC) to help it sell its mothballed Ravensthorpe nickel operation in an auction that could raise $1B. Comment!

• Thursday, August 13, 2009

• 07:53 AM Three energy giants (BHP Billiton (BHP), Peabody (BTU), and Chevron (CVX)) are embroiled in a lobbying scandal that aimed to defeat the U.S. climate change bill by sending forged letters to members of Congress. Comment!

• Wednesday, August 12, 2009

• 14:55 PM Arbitrage windfall? BHP (BHP) and Rio Tinto (RTP) trade at whopping 24% and 26% premiums in Australia vs. their London shares, largely a factor of their heavy weighting in domestic indexes. Comment!
• 06:46 AM BHP Billiton (BHP): full-year net profit of $5.9B (-61.8%), breaking a six-year streak of record annual results because of a slump in commodity prices. Cash flow was a record $18.9B. Revenue -16% to $50.2B. Shares -0.8% premarket. Comment!

• Thursday, July 30, 2009

• 09:00 AM Premarket gainers: CIT +19%. EMKR +12%. CVC +11%. BT +11%. ARIA +11%. IRE +10%. HIG +10%. MOT +8%. NWL +8%. AKRX +7%. MA +7%. AIB +7%. ALU +7%. GE +6%. RTP +6%. ELY +5%. ARMH +5%. GNW +5%. AXL +7%. RCL +5%. TSM +5%. EGLE +5%. LVS +5%. YGE +5%. BCS +5%. MGM +4%. BHP +4%. SOL +4%. MT +4%. CLF +5%. CNO +4%. USU +4%.
  Losers: PCBC -17%. AKAM -16%. INO -12%. GMR -9%. TOO -9%. SYMC -9%. CATY -7%. GHL -6%. CTV -6%. Comment!

• Monday, July 6, 2009

• 09:00 AM Premarket gainers: FRPT +5%. DNDN +5%. GERN +5%.
  Losers: SPPI -16%. LDK -8%. CTIC -8%. SSL -7%. RTP -6%. LCC -6%. GFI -6%. HMY -5%. BHP -5%. GST -5%. SAY -5%. DDSS -5%. GOLD -4%. MT -4%. Comment!

• Wednesday, July 1, 2009

• 11:25 AM Acergy SA (ACGY) +7.3% after scoring a subsea, umbilicals, risers and flowlines ((SURF)) contract from BHP Billiton (BHP). (PR) Comment!

• Wednesday, June 17, 2009

• 08:23 AM Chinese officials say the joint venture between Rio Tinto (RTP) and BHP  (BHP) has 'a strong monopolistic flavor,' and should be subject to Chinese anti-monopoly law. Australia's trade minister promises the venture won't lessen competition. 2 Comments
• 07:44 AM Speculation is growing that BHP Billiton (BHP) is planning a large acquisition. Shareholders are eager for growth and Merrill Lynch recently estimated the company could spend as much as $40B on a future purchase. Comment!