BHP Group Ltd shares ended the week down, closing at A$50.57 on Friday after fluctuating between A$50.12 and A$52.09 during the day. The latest dip put the stock roughly 1.8% below Thursday’s close, with the Australian market closed for the weekend.
Australian shares closed lower on Friday as miners gave back early gains and slipped by the session’s end. The S&P/ASX 200 lost 58.4 points, or 0.65%, finishing at 8,869.1. Meanwhile, the All Ordinaries fell 0.78% to 9,164.8. The Australian dollar dropped to 70.02 U.S. cents from 70.87 late Thursday.
BHP Group Ltd shares climbed 2.1% to A$51.65 in Sydney on Thursday, after fluctuating between A$49.92 and A$51.67 amid late-session volatility. The stock closed higher than Wednesday’s A$50.60 finish, on volume of roughly 9.9 million shares.
BHP Group Ltd shares closed Wednesday up 1.8%, hitting A$50.64. During the session, the stock ranged between A$49.88 and A$50.86, following a previous close of A$49.75. The last quote came at 16:06 local time.
Shares of Commonwealth Bank of Australia rose 0.5% to close at A$150.22 on Tuesday, trading within a range of A$149.76 to A$151.20. However, the bank slipped behind BHP as the Australian market’s largest stock by value, following a strong rally in mining shares.
BHP Group Ltd shares slipped 0.7% to close at A$48.14 on Thursday, erasing part of the previous session’s gains. Investors remained focused on ongoing iron ore price pressure and rising costs at its Jansen potash project.
Australia’s ASX 200 slipped 33 points, or 0.37%, to 8,782.9 on Wednesday, marking its third consecutive drop as investors moved away from riskier assets. Gold prices stayed firm above $US4,870 an ounce, buoying the materials sector, while financial stocks dragged lower.
BHP Group shares ended Wednesday 1.47% higher at A$48.48, bouncing back after losing 1.99% on Tuesday. The stock fluctuated between A$47.25 and A$48.50 throughout the session.
Australian shares slipped on Wednesday, though the drop was milder than futures had predicted as miners benefited from a record gold price. By 10:30 a.m. AEDT, the S&P/ASX 200 was down 0.4% at 8,779. Tech, banks, and industrials lagged, while materials and energy sectors gained ground. Spot gold hovered near $4,762 an ounce, Brent crude around $64 a barrel, and the Australian dollar stayed close to 67.3 U.S. cents.
BHP Group Ltd shares finished Tuesday down 2%, slipping to A$47.78. The miner cited pricing pressure linked to ongoing iron ore contract negotiations in China and announced an increased budget for its Jansen Stage 1 potash project in Canada.
BHP Group Ltd shares dipped on Monday, dragged down by falling iron ore futures. New data out of China rattled traders, raising doubts about steel demand ahead.
BHP Group Ltd shares closed Friday down 0.8% at A$48.99, yet remained roughly 3.5% higher than the previous week, hovering near a 52-week peak ahead of a crucial company update.
BHP Group Ltd is set to release its half-year production update next week, following a 0.8% dip to A$48.99 on Friday. The stock remains near its 52-week peak of A$49.75.
Australian shares wrapped up their best week since November on Friday, with the S&P/ASX 200 closing 42.2 points higher, or 0.48%, at 8,903.9. The index gained 2.1% over the course of the week.