As I keep saying, we will usually follow the US ADR's at the open except if there are extenuating circumstances , which in this case is the bullish lead from Wall St. However, if you calculate the ADR equivalent using exchange rate of .8665, it comes to around $40.12 so in thoery we should open flat. However, with the bullish lead from Wall St, I reckon we will open higher and if not, then we should at least progressively move up during the day. The fact that we closed Fridays session below the ADR equivalent close on Thurs night of $40.39 meant we again pre-empted their fall so that along with the fall in the AUD has saved us from going below $40.00 in my opinion.
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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