Spot on Average Joe, no Chinese companies would pay premium in a falling market, they could just say no to IO shipments and let the stock markets crash these IO shares. The squeeze is on and debt riddled companies like FMG go first, hence the fire sale of assets to stay alive. Well that is what we are seeing currently, lots of future growth relies on Chinese easing and spending programs now. In GFC 1 they announced 987 billion of spending, this time round its only 190 billion. They are drip feeding it in to keep growth but reset commodity prices, FMG is just another casualty of war.
CK
baosteel could do a placement @ $4.00: afr st, page-40
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Last
$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 45418 | $18.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 1200 | 1 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |