The woes of the banking sector have led to Commonwealth Bank of Australia (ASX: CBA) falling in market cap with BHP Billiton Ltd (ASX: BHP) coming quickly up behind it. BHP is already the world’s largest listed miner but may soon be Australia’s largest company with a market cap of $107.8 billion at the time of writing, compared to Commonwealth Bank’s market cap of $124.8 billion.
On another note, BHP’s US-based shale gas operations are in high demand with a list of potential trade buyers queuing up. Initially, the thought was that the assets would be spun off or there would be an initial public offering, but now a sale seems to be on the cards. The assets were bought for around $20 billion during the boom times, but now the sale price is half that at up to $10 billion.
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Motley Fool contributor Rosemary Steinfort owns shares of BHP Billiton Limited and Commonwealth Bank of Australia. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.