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Mining Stocks Slump on BHP Billiton CEO Oversupply Warning

July 9, 2023
in Trade Tube
Reading Time: 1 min read
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European stocks were mixed on Wednesday amid another crunch meeting on Greece, this time in Brussels between European Commission President Jean-Claude Juncker and Greek Prime Minster Alexis Tsipras on a final proposal from creditors to stave off a Greek default. There may also be comments on Greece from European Central Bank President Mario Draghi at this afternoon’s press conference following the ECB’s regular monetary policy meeting. In London, mining stocks including BHP Billiton Ltd. fell after the company’s CEO warned that that oversupply will continue to weigh on industry prices for some time. And in Vienna, steelmaker Voestalpine rose as full-year earnings came in above expectations and the company announced plans to raise its dividend and said it expects further improvement in the year ahead in operating result as well as Ebit.

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