|Bid||43.390 x 0|
|Ask||44.000 x 0|
|Day's range||43.155 - 43.155|
|52-week range||31.950 - 50.110|
|PE ratio (TTM)||N/A|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
BHP Billiton (BHP.AU) (BHP) has succumbed to investor pressure, announcing for the first time that its onshore U.S. shale assets are non-core as its unveiled a lower-than-expected full-year profit of $5.89 billion. BHP Billiton formally announced that it's onshore U.S. shale assets are non-core and it was looking to exit. Elliott has demanded a spin-off of the U.S. shale assets, though BHP Billiton CEO Andrew Mackenzie said he would prefer to sell them through a number of trade sales.
Traders were digesting the latest departure from Donald Trump's White House team, watching tensions around North Korea and waiting to see what the world's top central bankers would signal at the annual Jackson Hole gathering later in the week. "People focus on inflation but in the Fed's minutes policymakers spend a lot of time discussing whether bond yields are too low or asset prices are too high.
Mining major BHP said on Thursday it was spending $2.46 billion to extend the life of the Spence copper mine in northern Chile (Stuttgart: 704599.SG - news) by more than 50 years, creating up to 5,000 jobs and bringing new output online from 2021. BHP Chief Executive Officer Andrew Mackenzie, under pressure from activist investors Elliott Advisors to increase shareholder returns, said the project supported BHP's strategy of delivering near-term, valuable copper production. BHP, the world's biggest miner, and rival Rio Tinto (Hanover: CRA1.HA - news) rely heavily on iron ore for profits, but both firms are shifting emphasis as global commodity needs change and as expected rise electric vehicle demand increases consumption of minerals such as copper and nickel.