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.
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) advises that it has entered into a seismic acquisition and farm in option agreement in respect to its SC55 permit in the Philippines with BHP Billiton (BHPB).
The Australian share market lost much of its early gains after NAB's surprise bid for the local and New Zealand assets of AXA Asia Pacific Holdings. Woodside's capital raising also gave the market a pullback. At the close, the local market was slightly higher. The benchmark S&P/ASX200 index closed up 8.4 points, or 0.18 per cent, at 4670.3 points, while the broader All Ordinaries index gained 13.5 points, or 0.29 per cent, to 4689.6 points.
The Australian share market fell for the fourth consecutive day dragged by resources stocks. The local shares dropped sharply at in early trade amid the global debt jitters. The disappointing growth figures from Japan also weighed on the local market. At the close, the benchmark S&P/ASX200 index fell 32.7 points, or 0.7 per cent, at 4637.9, while the broader All Ordinaries lost 33.8 points, or 0.7 per cent, to 4652.6. The Aussie dollar also fell below 91 US cents today.
US stocks soared on Friday after the Labor Department data showed that job cuts fell sharply in November. The news fuelled the expectations that the US Federal Reserve might consider increasing interest rates.
US stocks closed weaker overnight after the US Commerce Department lowered its estimates of third quarter GDP and consumer spending. US economic growth in the third quarter was revised down to 2.8 per cent, down from an early estimate of 3.5 per cent expansion. Investors also worried Chinese banking regulator's capital-adequacy requirements would force the nation's lenders to tighten bank lending in China.
Wall Street declined overnight on a weak housing report, despite some strong earnings results. The Commerce Department said that construction starts on privately owned homes rose 0.5 per cent to 590,000, lower than expectations.
US stocks climbed to a 2009 new high on Thursday, as the oil prices surge buoyed energy companies. New York crude oil futures rose more than 3 per cent to a one-year high of US$77.58 a barrel after the government said US gasoline reserves fell sharply last week. The financial and IT stocks retreated over mixed economic data and corporate outlook.
BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) said today that the two top miners in Australia have scrapped a plan to jointly market ore from a planned Australia joint venture.
Overnight the US stocks closed higher on the positive Alcoa earnings and better-than-expected weekly jobless claims and consumer spending. Investors were also encouraged by the US retailers' first same-store sales gains in more than a year.
Overnight Wall Street extended its gains on Reserve Bank of Australia's unexpected decision to raise the official interest rate. Investors saw the first rate hike in advanced economies since the global financial crisis as a key indication of recovery. The move also pushed commodities higher with gold soaring to a record.
