CAPITAL MARKETS

Markets lower, BHP on the move

Mining major up in UK, lower Down Under

Staff reporter
 BHP’s majority-owned Shenzi oil and gas project in the Gulf of Mexico

BHP’s majority-owned Shenzi oil and gas project in the Gulf of Mexico

The world's biggest miner by market capitalisation was one of the bigger risers in London yesterday, closing up 3.4% after announcing a record dividend, plans to exit petroleum, greenlighting Jansen and unify its corporate structure to a primary ASX listing.

Marex's Alastair Munro noted the stock had jumped 9% on the London open, making an all-time high.

However BHP, which is merging its oil and gas assets with Australia-based Woodside Petroleum, was down 5% in morning Australian trade.

Woodside was down 2.2%.

Elsewhere, iron ore managed its first gain in days, rising 0.3% to US$161 per tonne for 62% Australian fines, according to MySteel.

Gold was similar to this time yesterday, at $1,786/oz on the spot market.

Finally, junior Latin Metals (TSXV: LMS) was a standout in Toronto yesterday, up 32% after news this week it had discovered outcropping copper-molybdenum mineralisation at its Lacsha project in Peru.

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