BHP Group Ltd (ASX:BHP) is a world-leading resources company. We work in more than 90 locations worldwide and our products are sold globally. We've positioned our business to support the megatrends shaping our world. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Copper for renewable energy. And we are moving into potash to support more sustainable farming.
Wall Street closed mixed on Monday ahead of the Federal Reserve's monetary policy meeting. The Federal Reserve is widely expected to leave the near-zero interest rate unchanged, but may begin scaling back some economic stimulus. Traders moved into technology and health care shares amid concerns the energy, materials and financials were overbought.
Wall Street closed higher overnight on investors' buying in industrial and materials stocks. Meanwhile, the fears of trade dispute between the US and China was offset by the news that a Chinese wealth fund is in talks to take over a minority stake in the US power plant AES.
Overnight US stocks rose for a fourth consecutive session led by industrial stocks. But market sentiment were dented after Federal Reserve report showed that consumer spending was still soft and retail sales were flat. The report also said labour market conditions remained weak across all districts.
Rio Tinto Ltd. (ASX:RIO) says the company does not see the pricing agreement by Fortescue Metals Group Ltd. (ASX:FMG) and Chinese steelmakers as relevant to its pricing for fiscal 2009 as the miner conducts its own negotiations with customers worldwide.
Wall Street ended lower in light trading on Friday as reports showed weak consumer sentiment in August and an unexpected decline in July retail sales. The weak reports prompted investors to lock in gains from the recent rally.
US stocks surged overnight as the Federal Reserve said the economy was leveling out, and it left interest rates unchanged at the end of its two-day policy meeting.
BHP Billiton Ltd. (ASX:BHP) said posted a full year net profit of US$5.88 billion for the year ended 30 June 2009, down from US$15.39 billion last year, breaking a run of six consecutive record annual results for the world's biggest miner as a slump in commodity prices took its toll.
An encouraging employment report sent the US stocks to a more than nine months high on Friday. The Labor Department released a report that the country's unemployment rate unexpectedly dropped to 9.4 per cent, its first decline in 15 months.
US stocks traded slightly higher overnight with more buying in financials. Analysts expect there would be a short-term correction after the rally as investors lock in gains from a strong three-week rally.
Exco Resources Limited (ASX:EXS)(PINK:EXRSF) is an Australian focused ASX listed mining company (ASX: EXS) that has been operating since 1998. Exco focuses on resource and project development through its team of experienced geologists, engineers and commercial specialists. The Company has a dual focus on developing both the Cloncurry Copper Project (CCP) in north-west Queensland, and the White Dam Gold Project in South Australia.
