Additionally, the energy needs of these countries will also be increasing, probably ahead of population growth China is suffering problematic power shortages. Another good year for Chip. The chief executive of BHP Billiton was able to bask in praise at the natural resources giant's annual shareholder meeting yesterday. Another record year for sales, for profits and for dividends.
And for the share price, too, which reflects optimism that we are still early on in a super-cycle of booming commodities prices. Anglo-Australian BHP Billiton is uniquely well placed to benefit, since it has operations across one of the broadest spreads of commodities and across the globe. Unlike the other miners listed in London, it also has big oil and gas wells, so has enjoyed the benefits of the soaring oil price too.The past few weeks have witnessed another of the occasional wobbles that send mining shares sharply lower, but it is difficult to believe that metals and energy prices are at their peak. Global demand remains very strong, with significant supply shortages in many base metals in particular. As well as demand from emerging China, India and Russia, the US continues to grow and Japan and Latin American countries are beginning to exceed growth forecasts.The big picture, painted again yesterday by Mr Goodyear and the rest of the board, is of emerging economies sucking in more commodities to support industrialisation, upgrades to infrastructure and, increasingly, domestic consumption.
It secured an oil concession in Madagascar this week and has assets in North Korea, making it one of only handful of companies which have exposure to the most closed society on the planet.Finally, Chacco Resources held steady at 6.2p despite some whispers that the oil explorer is looking to complete an equity fundraising at 6p.. Robert Adair, its executive chairman, picked up 135,000 shares while the managing director, Philip Leech, bought a more modest 40,000. Likewise, the packaging group Robinson rose 5p to 70p after the purchase of 15,000 shares at 65p by Guy Robinson, its finance director.Aminex added 1.75p to 19.25p after the Irish oil explorer was heard to have made a series of bullish presentations to institutional investors in Dublin and London. Aminex certainly operates in some of the world's more exotic countries. With such a large stake in JD Group, market professionals reckon Mr Ashley, who owns the Sports Soccer chain, will be keen to secure a seat on the group's board.Civica gained 1.5p to 231.5p after the software group announced that five more local authorities had decided to use its suite of financial management products.Lower down the pecking order, Terrace Hill ticked 0.25p higher to 41p amid yet more director share-buying at the property firm. Shares in the world's largest drug maker slumped 9 per cent to $21.90 on the New York Stock Exchange after the company said its third-quarter earnings were 52 per cent lower than last year at $1.59bn (£900m).
