I think it's all to do with what the market expects... given the recent surprises to the downside given the market by Vale, RIO and BHP, the FMG result is refreshingly in line with expectations and thus a net plus for investors.
This is especially so coming on the heels of the 7+% drop of a day or so back... a drop that was exacerbated by the crossing of a line of 10m+ shares at below market price and which now seems to have been overdone.
Todays' 4% or so rise seems to me to be the market correcting an earlier overreaction and appreciating the strengths of this stock.
Ann: March Quarterly Production Report, page-31
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Last
$19.41 |
Change
0.420(2.21%) |
Mkt cap ! $59.76B | |||
| Open | High | Low | Value | Volume |
| $19.19 | $19.55 | $19.10 | $98.59M | 5.097M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 32185 | $19.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.43 | 946 | 2 |
View Market Depth
| Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |