This news couldn't have possibly stunned anyone watching RIO over the past few years. The only thing surprising is the length of time it has taken to happen.
There was always going to be a large writedown, Mr. Albanese was always going to go (everyone knew that) and Sam Walsh is a great choice for a replacement.
The Australian market has a greater tendency to shaking in its boots than most other markets though so it will possibly see a greater negative reaction today than will be seen in the US and UK. At least, I'm sure the Aussie media will do their best to help that along by suggesting this is the end for RIO... But truly, this shakeout is the best thing that's happened to RIO for years.
All in all, it's great to see the proverbial has finally hit the fan and with Albanese's M&A obsessions now behind us, perhaps we'll see some real concentration on shareholder value. In any event, Citigroup seem to think so as do many other analysts.
This news couldn't have possibly stunned anyone watching RIO...
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Last
$108.12 |
Change
-1.820(1.66%) |
Mkt cap ! $40.13B | |||
| Open | High | Low | Value | Volume |
| $109.70 | $110.42 | $107.38 | $133.0M | 1.227M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 9859 | $108.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $108.13 | 647 | 1 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| RIO (ASX) Chart |