BHP has experienced a volatile ride over the last 6-months having been heavily influenced by the respective aggressive moves in both iron ore and oil. In less than 2-weeks’ time BHP will no longer be listed in the UK and its market cap in Australia will soar, taking it from around 6% of the ASX200 to closer to 10%, reclaiming its “Big” title in the process. By definition some fund managers & ETF’s may be forced to add to their holdings which when combined with the soaring oil price could easily see BHP squeeze up towards $50 in the coming weeks – if such a move unfolds MM will consider trimming our holdings back from 9% to 6%.
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