Tuesday preview: Brexit talks, BHP Group in focus

Previously, on Tuesday, Brexit talks are due to resume between the UK and the European Union.

Mining

11,474.12

17:04 07/11/24

-0.16%

-18.76

The focus come Tuesday will again be on Brexit as the UK and the European Union resume talks.

Tuesday's economic calendar is otherwise quite sparse, with only figures on US housing starts and permits for July and a speech from European Central Bank vice president, Luis de Guindos, scheduled.

One possible weak spot could be BHP's Peruvian subsidiary, Antamina, whose performance might undershoot forecasts slightly due to a one-month outage on the back of the Covid-19 pandemic, Allsop said.

Nevertheless, the outlook for the group's second half overall was "robust" with the analyst anticipating a near 10% sequential fall in earnings before interest, taxes and depreciation and net earnings.

By activity segments, strength in iron ore was expected to have offset weakness in oil, metcoal and copper.

Allsop had penciled in a $3.1bn dividend payout for the half, equating to $60-65, resulting in net debt slightly below the company's targeted range for $12-17bn.

Tuesday 18 August

INTERIMS

Kaz Minerals , Marshall Motor Holdings, Mears Group, Persimmon, TBC Bank Group, Telit Communications

INTERIM DIVIDEND PAYMENT DATE

Dewhurst

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Housing Starts (US) (13:30)

TBC Bank Group

FINALS

BHP Group

SPECIAL DIVIDEND PAYMENT DATE