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    BHP   GB00BH0P3Z91

BHP GROUP PLC

(BHP)
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Defensive, technology stocks power European markets to record close

08/09/2021 | 12:14pm EDT
FILE PHOTO: German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks reached a record high after healthcare, utilities and technology gains outweighed declines triggered by a fall in commodity prices earlier on Monday.

The pan-European STOXX 600 index rose 0.2% to a closing high of 470.68 points, powered by rises in the defensive sectors of utilities and healthcare.

Technology stocks rose 0.5%, led by a 4.5% jump in British food delivery company Deliveroo after Germany's Delivery Hero took a 5.09% stake in it.

Oil majors Royal Dutch Shell, BP and TotalEnergies slipped about 1% each as crude prices fell more than 2.5% on fears that pandemic-led curbs in Asia, particularly China, would dent fuel demand. [O/R]

Miners also fell on weaker metal prices after data showed China's export growth unexpectedly slowed in July. [GOL/] [MET/L] [IRONORE/]

"Oil remains under pressure, but while there might well be some Delta variant fears driving the move, the fact that equities have remained broadly calm points towards an odd disconnect," said Chris Beauchamp, chief market analyst at IG.

"Either equities are blithely ignoring a major worry, or oil prices are undergoing a self-contained selloff that is being driven chiefly by supply concerns."

The STOXX 600 capped its best week since mid-March on Friday, on the back of a flurry of dealmaking and strong earnings. Volumes are expected to thin as many traders head for summer holidays.

Of the 70% of the STOXX 600 companies that have reported so far, 68% have topped analysts' profit estimates, Refinitiv IBES data shows. Only 51% beat expectations in a typical quarter.

Investors will be keenly watching U.S. inflation data this week to see if the numbers make a case for an early tapering announcement by the Federal Reserve, the odds of which were cemented after a strong jobs report on Friday.

Vectura rose 5.5% after U.S. tobacco company Philip Morris raised its bid for the British drugmaker.

Among decliners, Hargreaves Lansdown fell 11.3% even after posting higher annual underlying earnings as Britain's biggest fund supermarket said it did not expect equity trading volumes to remain at high levels.

HeidelbergCement, the world's second-largest cement maker, fell 2.9% after Barclays downgraded the stock to "underweight", citing muted earnings growth due to inflationary pressures.

(Reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Editing by Amy Caren Daniel, Subhranshu Sahu and Alexander Smith)

By Shreyashi Sanyal


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP PLC -0.14% 1989.2 Delayed Quote.3.34%
GLENCORE PLC 1.49% 390 Delayed Quote.67.62%
HARGREAVES LANSDOWN PLC -1.70% 1471 Delayed Quote.-3.54%
HEIDELBERGCEMENT AG 0.22% 63.02 Delayed Quote.2.94%
RIO TINTO PLC -1.43% 5038 Delayed Quote.-7.90%
TOTALENERGIES SE 1.50% 44.455 Real-time Quote.25.93%
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Analyst Recommendations on BHP GROUP PLC
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Financials (USD)
Sales 2022 63 012 M - -
Net income 2022 19 009 M - -
Net Debt 2022 7 580 M - -
P/E ratio 2022 7,07x
Yield 2022 10,5%
Capitalization 85 086 M 85 101 M -
EV / Sales 2022 1,47x
EV / Sales 2023 1,66x
Nbr of Employees 40 110
Free-Float 58,2%
Chart BHP GROUP PLC
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BHP Group Plc Technical Analysis Chart | BHP | GB00BH0P3Z91 | MarketScreener
Technical analysis trends BHP GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 28,84 $
Average target price 33,63 $
Spread / Average Target 16,6%
EPS Revisions
Managers and Directors
Mike Henry CEO, Non-Independent Executive Director
David Mark Lamont Chief Financial Officer
John Kenneth Norman MacKenzie Chairman
Laura Tyler Chief Technical Officer
Malcolm William Broomhead Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
BHP GROUP PLC3.34%142 916
BHP GROUP-8.41%142 916
RIO TINTO PLC-7.90%113 888
GLENCORE PLC67.62%70 763
ANGLO AMERICAN PLC20.11%49 163
GRUPO MÉXICO, S.A.B. DE C.V.11.45%35 695