Would have thought BHP was going to regain ground and go back up well into the high $20s early $30s but One Nation holding balance of power in WA has put the end to that rally.
BHP should have gone up 2day as WA Nationals would have imposed a huge tax on BHP/ BLT and RIO that would have eventually been passed onto competitors such as FMG, AGO and MGX IMHO. At least that does not happen now.
Market must think that ALP might not be able to get its program through given ONA in WA hold balance of power in WA Legislative Council, infrastructure spend, budget measures, taxes, new railroads, resources subsidies might not get through the Upper House IMHO.
Market must think that One Nation might become openly hostile to the ALP and that would negatively impact BHP if the WA legislative program got stalled.
It is why BHP is only slightly up 2day and not massively up 3% more or so.
last chance to buy low, page-18
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Last
$40.77 |
Change
0.240(0.59%) |
Mkt cap ! $206.7B | |||
| Open | High | Low | Value | Volume |
| $40.70 | $40.90 | $40.45 | $537.7M | 13.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $40.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.78 | 8000 | 4 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |