BHP slumps after South32 lists

SHARES in BHP Billiton plummeted by more than 7% today after its spin-off, South32, listed on the ASX.

Materials was the worst-performing index, down 3.7%, as the S&P/ASX 200 dropped 1.3%.

BHP shares fell by 7.2% or $A2.36 – more than the value of a South32 share – to close at $30.13.