Bounce in IO price coming. Question is will it be long enough to deleverage FMG and fund the expansion?
http://www.thebull.com.au/articles/a/31224-iron-ore-to-stay-low-longer-term.html
Chinese stimulus is also on the way... they have a political changeover soon and they can't afford for things not to be going smoothly with the economy. The second the US elections are over we we will see a lift in the global economy due to increased certainty and if Obama gets back in we may even get some expansionary fiscal policy before long.
Key point: World needs IO. Question is can FMG hold on long enough for China to take off again. Yes IMO
anyone any idea on where the bottom might be?, page-36
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |