rio first half profit down 14pc, page-4

I think the stock would remain supported by the fact that it has been re-rated so many times in the past, with most analysts waving the $110+ flag.

Therefore, $88 would seem like a total bargain. Especially when the rise in RIO has been lagging behind BHP.

I think what's more likely to happen would be either RIO gains to match BHP's rise or BHP falls to match RIO in expectation that BHP will follow RIO, Alcan and Alumina in their less than expected earnings.

At the moment, looks like BHP will be opening higher for today and RIO is steady, but 30 mins away from the open.

Technically, RIO is all over the shop, but has been downwards since the Alcan deal.

Rumours have stopped regarding BHP buying Alcoa - if they were to announce that, well, you know what will happen...