maybe the reason why it's up, page-7

Iron ore miner Fortescue Metals Group soared 40
percent, boosted by rumours that BHP Billiton may make a
takeover bid or Chinese firms may seek a stake in Fortescue.
The stock leapt as high as A$2.93 before easing back to
A$2.86.
Speculation centred on either Chinese interests taking a
stake in Fortescue or BHP making a takeover bid for the firm,
having dropped its $66 billion bid for rival Rio Tinto
last week, mining analysts said.
Both Fortescue and BHP declined to comment.
Fortescue is one of the bigger targets for short sellers,
according to figures from the Australian Securities Exchange.

Reuters.