BHP Billiton to Invest

Sarla Buch
15 Jun, 2018
New York City

BHP Billiton approved

[R]4:00 PM Frankfurt – BHP Billiton approved £2.2 billion to build a new iron ore mine in Western Australian. Gerry Weber operating profit plunged on weak revenues. Hennes & Mauritz said sales in the second-quarter increased 2%. Tesco comparable sales in the first-quarter advanced 2%.[/R]

In London trading, FTSE 100 index slumped 97.26 or 1.3% to 7,665.66 and in Frankfurt the DAX index decreased 69.93 or 0.6% to 13,035.37.

In Paris, CAC 40 index fell 9.88 or 0.2% to 5,518.37.

BHP Billiton Plc declined 3.3% to 1,690.80 pence after the U.K.-based mining, metals producer today approved £2.19 billion or $2.9 billion spending to build a new iron ore mine inits Western Australian South Flank project in the central Pilbara where the company controls 85% stake.

Gerry Weber International AG rose 0.2% to €6.58 after Germany-based fashion manufacturer and retailer said revenues in the first-half ending in April declined 5.4% from a year ago to €404.7 million and operating profit plunged 12% to €25.5 million from €28.9 million in the same period a year ago.

H & M Hennes & Mauritz AB plunged 4.2% to 134.16 Swedish kronor after Sweden-based fashions apparel retailer said sales in the second-quarter ending in May advanced 2% from a year ago to 60.5 billion kronor or $6.9 billion, including tax.

As of May 31, total number of stores increased to 4,801 stores from 4,498 stores in the same period a year ago.

Tesco Plc jumped 3.4% to 258.12 pence after the U.K.-based groceries and general merchandise retailer reported comparable sales in the first-quarter ending on May 26 jumped 1.8% but same-store sales growth in its supermarket operations in the U.K. unit advanced 2.1% from 2.3% in a year ago period.

Comparable sales in Booker segment soared 14.3% including tobacco and excluding tobacco sales jumped 12.4% and combined comparable sales in the U.K. and Ireland increased 3.5%.