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BHP Billition has made another big write-down on its shale1 assets in the United States because of plunging2 oil and gas prices. The resources company says it will take a 10.3 billion dollar impairment before tax on its US shale business. That's 7 billion dollars after tax. BHP says the after-tax charge will be included in its financial results for the half year. Six months ago, it took another multi-billion dollar write-down on the division.
Now the Australian market ran out of steam after shares rose nearly 2% early on. The All Ordinaries Index fell 1/3 of percent. The ASX200 lost 17 points to 4,893. Looking at the moves, BHP Billiton rose more than 1% despite that write-down on its US shale business. National Australia Bank says its troubled UK business has been improved. It lost ground. And Ports Operator Asciano gained 1% as rival takeover bids continue.
To commodities now. West Texas Crude Oil is above 31 US dollars a barrel, but oil is weaker in future's trade. Spot gold has gained in the Asian trade to 1,080 US dollars an ounce. Now the Australian dollar has fallen back after a drop in Chinese bank loans in China. It's buying around 69.4 US cents.
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1 shale | |
n.页岩,泥板岩 | |
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2 plunging | |
adj.跳进的,突进的v.颠簸( plunge的现在分词 );暴跌;骤降;突降 | |
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