BHP ASX

The BHP Group Ltd (ASX:BHP) share price is up 5% after the resource ASX share reported its FY22 result, which included a huge dividend.

A share price of under $40 could prove to be a decent entry point, but it could get even more attractive if the iron ore price drops noticeably under US$100 per tonne. At the same time, we expect to see a slowdown in advanced economies as monetary policy tightens, as well as ongoing geopolitical uncertainty and inflationary pressures. We expect China to emerge as a source of stability for commodity demand in the year ahead, with policy support progressively taking hold. If I were looking to buy for my own portfolio, I’d want to wait for a lower entry price than today. BHP said that it has completed the production shafts at Jansen and it’s working to bring forward first production into 2026. The petroleum segment was classified as ‘discontinued’ operations.

We expect China to emerge as a source of stability for commodity demand in the year ahead with policy support progressively taking hold,”...

“The only downside for investors is that China’s industrial data from yesterday showed steelmakers have seen a drop in production of almost 6% from last year. The Australian mining company has just announced a record annual dividend of US$3.25 and topped earnings estimates. Investors fear that the global economy will continue to slow, reducing oil demand and driving prices lower. BHP paid a record $US1.50 a share half-year dividend in March. What's likely to drive the next leg lower in stocks? BHP relies on iron ore demand from China. With production slowing down and the stockpiles of the commodity growing, the risk of a decline in the iron ore price might have a negative impact on BHP’s future outlook. - The Aussie dollar fell from near US70.85 cents to US70.10 cents and was near US70.25 cents at the US close. However, the poor performance of iron ore was mitigated by the strong performance of coal, with coal earnings of $US9.5 billion – a $US9.8 billion turnaround in a year. - The Brent crude price fell by US$3.05 or 3.1% to US$95.10 a barrel. - The Euro fell from highs near US$1.0255 to lows near US$1.0155 and was near US$1.0160 at the US close. - The Japanese yen lifted from near 133.52 yen per US dollar to JPY132.56 but was back near JPY133.30 at the US close. We think the catalysts will end up centering around earnings disappointment," Morgan Stanley (NYSE:MS) said.

The ASX200 is up 0.6 per cent this morning to its highest level since June 8, following a record year for "the Big Australian," BHP.

Cooke is offering $5.23 a share, a 49 per cent premium to Tassal's undisturbed closing price on June 22. Challenger fell 10.1 per cent to $6.40 after the investment manager announced its full-year net profit after tax had dropped 57 per cent to $254 million, driven by unrealised investment losses. Seek fell 5.1 per cent to $23.12 after the online job board missed earnings expectations with a full-year net profit after tax of $245.5 million. Goodman Group fell 0.5 per cent to $20.55 despite the industrial property giant reporting it had lifted its full-year operating profit by 25 per cent to $1.53 billion, and had expanded its assets under management. * The broader All Ordinaries gained 37 points, or 0.51 per cent, to 7361.9. Temple & Webster was the biggest large-cap gainer of the day, soaring 29.8 per cent to a four-month high of $5.71 after the online furniture retailer announced full-year revenue was up 31 per cent to $426.3 million, and upgraded its margin guidance for 2022/2023. The big banks were mixed, with CBA up 1.0 per cent to $101.46 and NAB up 0.8 per cent to $31.04. But Westpac was down 0.4 per cent to $22.34 and ANZ dropped 0.8 per cent to $23.83.. The mining sector as a whole was up 1.7 per cent, with Fortescue Metals adding 1.6 per cent to $19.43 and Rio Tinto gaining 0.7 per cent to $95.93. Tassal Group rose 5.1 per cent to $5.145 after the Tasmanian salmon farming group accepted a sweetened $1.1 billion takeover bid from a persistent Canadian suitor. The benchmark S&P/ASX200 index on Tuesday closed up 41.1 points, or 0.58 per cent, to 7105.4. The broader All Ordinaries gained 37 points, or 0.51 per cent, to 7361.9. BHP, which accounts for about a tenth of the weighted index, climbed 4.1 per cent to a six-week high of $40.51 after it reported its second-biggest profit ever, driven by surging commodity prices and record iron ore sales. "BHP, they've shot the lights out today, and they've been rewarded, climbing four and a half per cent or thereabouts, and the ASX200, closing above 7100 for the first time in 10 weeks," Mr Sycamore told AAP.

The Australian sharemarket cooled slightly but was still trading higher at lunchtime on Tuesday, up 0.59 per cent from this morning's open.

The company issued an unreserved apology as the mining industry comes under escalating pressure from governments, investors and wider society to confront alarming rates of sexual harassment in the male-dominated industry. You may have missed: BHP’s success on the markets today obscured a more concerning figure. It has appointed Gresham Partners to help with a review into the bank’s future. “In terms of general exposure to [the] housing market, it’s really complicated... The Market Recap newsletter is a wrap of the day’s trading. Fellow industry heavyweights - Rio Tinto and Fortescue Metals Group - were also trading marginally higher. Financial services firm Challenger plunged 10.11 per cent to $6.40 after the company reported a loss in its recently purchased banking arm and launched a review of this part of the business. Challenger, which bought a bank from Catholic Super in late 2020 for $35 million, said on Tuesday the banking unit had made a loss of $11 million because of regulatory and integration expenses. “BHP makes up around 12 per cent of the ASX, so that being up is a primary reason for the market being up,” said Jamie Hannah, deputy head of investments and capital markets at VanEck. Industrial property giant Goodman Group led a 1.14 per cent fall in the property sector, losing 1.14 per cent despite delivering robust earnings. The lowdown: Global mining giant BHP powered the gains in the materials sector and the broader market, rising as much as 5.5 per cent on Tuesday morning after unveiling a record dividend for its shareholders. The numbers: The Australian sharemarket climbed to a nine-week high on Tuesday on the back of a record dividend announcement from market heavyweight BHP.