US Mid-Session 9 Dec 15: More cutback from global miners hit the international markets

* European shares slumped on Tuesday dragged down by weakness in the mining sector. Shares in Anglo American fell by 12.3% after the company  announced restructuring measures including the suspension of the dividend. In London trade, shares in BHP Billiton were down by 5.5% while Rio Tinto fell by 8.4%. The FTSEurofirst 300 index fell by 1.8% while the German Dax lost 2.0% while the UK FTSE lost 1.4%.

 

* US sharemarkets were mixed on Tuesday. Shares in oil producers continued to fall in response to lower oil prices. Mining companies weakened in response to the restructuring measures outlined by Anglo American. With almost an hour of trade to go the Dow Jones index was down by 120 points or 0.7% with the S&P 500 down 0.4% while the Nasdaq was up by 6 points or 0.1%.

Hello All,

Please find today’s Market Update. Feel free to download and disseminate on your radio stations.

Kind Regards,

The CommSec Media Team

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual.  For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice.  This report is produced by Commonwealth Research based on information available at the time of publishing.  We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.