The shares of Rio Tinto were reported to close in London at GBP 45.49. The shares had declined on Australian bourse by 91 cents or in other words by 1.03 percent. The shares finally stood at 87.77 dollars. A market analyst at IG Markets, Cameron Peacock, said that there had been huge expectations regarding the buy back of the shares and thus 5 billion US dollars was in the end a cause of disappointment in the market. The expectations about the net profit were about 14.1 billion US dollars. It has always been the trend about people buying the shares with some expectation and if the things fail to turn out as anticipated then there is some selling done in the market. There were reports that Rio Tinto has made reductions in their debt and has announced a final dividend which is about sixty three US cents per share. This dividend is higher than that given by the company in the previous year2009, which was at forty five US cents per share.source
Friday, February 11, 2011
Disappointment regarding Rio’s proposal of buyback
The shares of Rio Tinto were reported to close in London at GBP 45.49. The shares had declined on Australian bourse by 91 cents or in other words by 1.03 percent. The shares finally stood at 87.77 dollars. A market analyst at IG Markets, Cameron Peacock, said that there had been huge expectations regarding the buy back of the shares and thus 5 billion US dollars was in the end a cause of disappointment in the market. The expectations about the net profit were about 14.1 billion US dollars. It has always been the trend about people buying the shares with some expectation and if the things fail to turn out as anticipated then there is some selling done in the market. There were reports that Rio Tinto has made reductions in their debt and has announced a final dividend which is about sixty three US cents per share. This dividend is higher than that given by the company in the previous year2009, which was at forty five US cents per share.source
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