BHP Billiton, RSA Insurance and Gama Aviation

“The FTSE 100 continued to display post-Brexit momentum with investors maintaining the trend of buying defensive stocks while also being encouraged by the prospect of fresh stimulus from the Bank of England after Governor Mark Carney signalled that some monetary policy easing would be required,” says AJ Bell Investment Director Russ Mould.

“BHP Billiton’s hopes of drawing a line under the Samarco dam disaster have been dashed by Brazil’s Superior Court of Justice which has reinstated a £4.6bn civil claim against the group’s Brazilian subsidiary and Vale which jointly ran the iron ore mine. Nineteen people died when a tailings dam at the mine burst and sent a tidal wave of waste water into two towns. The joint venture partners had agreed a much lower deal but the court has now suspended this arrangement and reinstated the original claim. BHP Billiton Brasil will appeal the latest decision while continuing to support the long-term recovery of the communities.

“RSA Insurance has completed the disposal of all its business in Latin America with the sale of its operations in Uruguay to Suramericana. RSA has already sold its operations in Brazil, Colombia, Chile, Argentina and Mexico this year. RSA has its core operations in the UK & Ireland, Scandinavia, and Canada.

“Gama Aviation has taken over Gatwick-based FlyerTech and its sister company Aerstream. The acquisition is an excellent strategic fit for Gama and enables it to enhance the breadth of the airworthiness services offered to its customers in a highly specialised segment.”

These articles are for information purposes only and are not a personal recommendation or advice.