(one American Depositary Share (ADSs) equals two Australian shares)
Mining shares are on fire! Some of the riskier ones have doubled and tripled in price in the last few weeks. Very tempting but I stay away from them, relying on the miners that already make a good profit and pay a very healthy dividend, such as my trusty old BHP.
The New York market has just closed where overnight BHP went up by a hefty 3.17%. Looking at the pre-opening sales on the local market, it seems that the shares here will also rise by around 3%. Happy days!
Is this the start of a bigger rally? Do I hold or do I fold? Maybe I should hold and await the six-monthly operational results on 20 January 2026. (I did sell some on Tuesday at $47.20 which was two days too soon.)
I'll keep you posted of today's market movements at regular intervals:
10.00 am: up $1.02 to $49.14 (below expectations)
11.00 am: up $1.31 to $49.43 (matches New York's closing price)
12.00 am: up $1.50 to $49.62 (still below Sydney's pre-market)
1 pm:
2 pm:
3 pm:
4 pm:
