South 32's Share Buy Back appears to be having a positive impact on SP. SP having risen by 13% since announced (compared to ASX 300 Metals and Mins -2% for same period).
South 32 argues the $500M capital management program meaningfully increases shareholder returns and follows the recent announcement of our interim dividend.
I would suggest NMT's 2nd proposed buy back was a further attempt to support the SP without having any intention to proceed.
NMT Price at posting:
30.5¢ Sentiment: None Disclosure: Held
