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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$43.54 |
Change
-0.470(1.07%) |
Mkt cap ! $220.9B |
Open | High | Low | Value | Volume |
$43.40 | $43.63 | $43.29 | $305.3M | 7.020M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 120 | $43.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$43.55 | 5000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 120 | 43.500 |
1 | 2000 | 43.470 |
1 | 100 | 43.460 |
2 | 5012 | 43.450 |
2 | 2209 | 43.430 |
Price($) | Vol. | No. |
---|---|---|
43.580 | 2500 | 1 |
43.590 | 182 | 5 |
43.600 | 46553 | 4 |
43.610 | 3264 | 3 |
43.630 | 41982 | 6 |
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