westpac is not the only one doing this.
RIO is seen as a blue chip so it pretty much always has a buy recommendation, especially by allfinance firms that want to feed off it.
It is a tragic-comedy and there is no end in sight for years. It looks like China overexpanded its steelmaking capacity so has (or will be) closed down over 10% at a time when when steelmakers around the world are also significantly curtailing output. This has a massive downward pressure on IO prices, which may fall in the region of 30-50% in the 2009 round of negotiations.
Alcan, and its associated debt, the albatros is pulling RIO into the poop.
BHP wanted to be RIO's saviour, but will not now be in such a position. Anyone wanting to now accept 2 BHP shares for each of RIO?
loki
here is the recommendation from analyst, page-4
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Last
$116.47 |
Change
2.310(2.02%) |
Mkt cap ! $43.23B | |||
| Open | High | Low | Value | Volume |
| $115.31 | $118.48 | $114.83 | $158.6M | 1.359M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 225 | $116.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $116.58 | 1000 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| RIO (ASX) Chart |