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Rio Tinto (RIO)

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Our commentary:

20 August: Rio Tinto’s first half underlying earnings dropped 54% to US$2.57 billion on year mainly due to weaker commodity prices.
The result missed an analysts forecast of US$2.67 billion. Sales revenue for the half slid 31% to US$18.85 billion. Investors will be disappointed as RIO scrapped its interim dividend after paying 68 cents last year. RIO expects better conditions in the second half to help lift earnings.

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