That was because projected capital expenditure to green projects was higher than forecast (the market basically treats this like an expense with no return) at a time when the market was expecting a reduction in capital expenditure to the same following job cuts.
It's just really poor messaging by FMG.
Iron ore price, page-53375
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Last
$16.12 |
Change
-0.010(0.06%) |
Mkt cap ! $49.63B | |||
| Open | High | Low | Value | Volume |
| $16.30 | $16.35 | $16.00 | $142.8M | 8.831M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 18592 | $16.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.14 | 3138 | 1 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |