Good luck to anyone trying to understand the legal system in Brazil; I am sure it is just as stable and transparent as their government.
I am hoping this a bit of an over-reaction. After all anyone can ask for anything (anyone want to buy my BHP shares at $1000 each???), but it does not mean they are going to get it. 58 Billion AUS dollars is almost as much as the current BHP.ASX market cap.
Unfortunately I think there will be/is a tendency for everyone to line up with their hand out for a piece of the multibillion dollar foreign company. I believe the Brazilian Government should intervene and put a stop to it. IMO it sends the wrong message to any foreign company thinking of investing in Brazil (come and develop our country, but if you make any mistake (and I am not saying for one second that the dam burst was not tragic), we will ask for compensation for ever....).
Luckily I am LT with BHP and can hold onto my shares indefinitely. That does not mean I like to see them in the red however, so not sure what to do: hold OR sell and renter at a lower price..... hence I have no sentiment at this stage.
As I write, BHP.LSE is down 7.4%, after a drop of around 5% the night before. It is also going to drop significantly on NYS, again after a drop of around 5% the day before. So the million dollar question is, do we follow LSE, NYS, do they follow us, or do we all do our own thing? What will happen tomorrow? I suspect further drop but how far; I would not have picked close to 9.4% drop in one session as happened today!!!
GLTAH
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$39.60 |
Change
0.790(2.04%) |
Mkt cap ! $200.9B |
Open | High | Low | Value | Volume |
$39.19 | $39.87 | $39.10 | $371.9M | 9.393M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 10101 | $39.55 |
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Price($) | Vol. | No. |
---|---|---|
$39.60 | 18075 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 655 | 39.550 |
1 | 30 | 39.450 |
1 | 142 | 39.370 |
1 | 250 | 39.360 |
1 | 5000 | 39.330 |
Price($) | Vol. | No. |
---|---|---|
39.650 | 1000 | 1 |
39.850 | 500 | 1 |
39.870 | 429 | 3 |
39.880 | 3028 | 2 |
39.890 | 70000 | 1 |
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