BHP Billiton is not alone in having had its share price beaten up in the past 12 months. At Friday's closing price of $37.80 a share, it's down some 14.6 per cent from a year ago.
There are more reasons than you can poke a stick at for the value hit, most of which are shared by the rest of the resources sector.
But according to global resources fund manager BlackRock, one of BHP's biggest and most influential shareholders, there has been a factor at play unique to BHP - its $US20 billion ($A19 billion) push into the US shale gas industry earlier this year.
BlackRock's head honcho, Evy Hambro, said last month the lack of clarity over BHP's shale gas ambitions had not helped the group's share-price performance.
Sydney Morning Herald
No comments:
Post a Comment