As the market opens for the day (17 September), BHP (ASX:BHP) has shared its intention to cut around 750 jobs across its Queensland operations as a reflection of the high royalties imposed by the government.
The Australian Securities Exchange (ASX) has dropped 26 points this morning to 8,851.70 points as at 10.25am AEST.
Similar to yesterday’s output, sectors are holding a mixed session with seven performing higher, with materials rising 2.15%.
Across the globe, the Asian markets are expected to open lower this morning in line with the ASX.
The Dow Jones dropped 0.3% in its last session, decreasing by 126 points to close at 45,758 points.
European markets saw a weaker session with both London’s FTSE and Germany’s DAX falling.
The Australian dollar has been buying slightly higher, currently at US$0.66.
Gold is trading at US$3,694 ($5,522) per ounce with copper trading at US$4.63 per pound.
WTI Crude oil is selling higher for US$64.53 per barrel while Brent oil is up again at US$68.51 per barrel.
Iron ore is valued slightly lower from yesterday’s market open, currently at US$105.42 per ton.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market.
The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
