BHPB bids for Rio - Both firms face shares drop
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Thursday, 23 Oct 2008
It is reported that BHP Billiton shares have dropped by about 43.3% and Rio Tinto has lost 53.2% since both companies hit 12 month closing highs on May 19th 2008 of USD 49.55 and USD 156.10, respectively.
The share prices of resource stocks have plunged on the Australian share market amid expectations that financial market turmoil will spark a global recession and reduce demand for commodities.
