BHP BillitonLtd. (BHPB) announced deterioration in its total revenues and operating and net level performance during 1H 09. As the company's financial performance was broadly in line with our expectations and our outlook is not significantly changed, our fundamental valuation of the company remains largely unchanged. Consequently, at the current price level, we upgrade the rating from a SELL to a HOLD. As we now anticipate a significant positive currency impact…

BHP Billiton Limited (BHPB) announced an agreement to sell its shuttered Ravensthorpe nickel mine to First Quantum Minerals Ltd (First Quantum) on 09 December 2009 for US$340 mn and expects to complete the sale by 1Q 10. However, we do not expect a significant change in our fundamental outlook. Hence, we believe that the stock is overvalued at current price levels and we therefore maintain our SELL rating....

Recovering global economy has lifted metal prices to new highs in 3Q 09. Going forward, with stabilization of global economy, we expect the demand for metals to maintain it's upwards momentum from hereon. Therefore, we do not expect any correction in metal prices in the near to medium term, supporting the company's top-line. BHPB will witness start-ups of various developmental projects in FY 2010 namely Pyrenees in Australia (Petroleum CSG), Iron ore rapid growth project…