re: uk means nothing bullsrus, You're a complete goose, your bear calls have proven that. BHP in the UK is a separate company, but one share of BHP Billiton Plc still entitles the holder to the same sized slice of the company and dividend as the holder of one share of BHP Billiton Ltd. When the Australian market is closed, it still gives a darn good indicator of changing sentiment towards the company, this week's turnaround being a perfect example. A 4% gain in the UK is ALWAYS good for the Aussie listing. It's the small moves that don't mean much. Last night looked like it was turning into a large move down, and in fact that's how it panned out for Rio and Kazakhmys. BHP got off lightly and as such you can't read too much into it.
Thursday night's "fall" in the US ADR's was actually nothing of the sort, it merely tracked the Aussie shares (to the cent!!) whilst the US dollar rose. Last night's small gain also tracked the earlier gain in the Aussie session. This is the way things are supposed to happen as, after all, ADR's are just a derivative, even though quite often they lead moves here in Australia and as such we use them as a leading indicator.
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