STOCK WATCH

BHP shares got hammered after the stock traded ex-dividend and iron ore prices fell

BHP was the worst performer on the ASX 200 on Thursday, with its shares tumbling 6.9 per cent to $41.94.

The stock went exdividend and was also dragged down by weaker iron ore prices.

BHP chief financial officer David Lamont said the miner was working with ratings agency S & P Global to avert a threat to downgrade its credit rating, declaring that the mining giant was in the strongest financial position in its history. S & P has raised concerns that the merger of its petroleum assets with Woodside would make BHP’s earnings “slightly less diversified”.

The ASX 200 fell 0.55 per cent to 7485.7 points.