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There is the risk that BHP Billiton (BHP) could make a strategic misstep "to regain the upper-hand in the existential debate" with activist investor Elliott Management. Australia's BHP, you will recall, rebuffed Elliott suggestions for boosting shareholder value, including the sale of BHP's U.S. energy assets. AB Alliance Bernstein analysts Paul Gait, Jonas Oxgaard, Jonathan Absolon and Marion de Floris suggest BHP is in crisis, and fear BHP stands for Bafflingly Hubristic Potash." They think "oil should go," because it serves no purpose in BHP's portfolio, and that pursuing the Jansen potash project in the Canadian province of Saskatchewan, would be a strategic misstep.
Uncertainty in the market was being fueled by reports of problems with the Greek bailout package, as well as British polls suggesting Prime Minister Theresa May’s Conservative Party has less of a lead ...
European commodity shares rose Monday on brighter prospects for the resources sector, but the gains weren’t enough to keep most European equity benchmarks from tilting lower.