Interesting comments below re FMG
0505 GMT [Dow Jones]
S&P/ASX 200 up 0.7% at 4051.5, hits 4051.8 as materials continue surging. AUD/USD, which is strongly correlated to resources, has jumped to 0.8120 from 0.8030 at the NY close. BHP (BHP.AU) up 1.9%, while Rio (RIO.AU) up 6.2%.
Fortescue (FMG.AU) up 20%. "It certainly seems as though there have been some good buy portfolios this week," says senior trader at major broker. "I think there's a hell of a lot of short covering going on in Fortescue (FMG.AU)." He says recent buying is just the tip of the iceberg.
"We've still got a long way to go in terms of money coming into the market," he says. "This is really only the start of it, as asset allocators rotate back into equities."
model calc, page-10
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Last
$22.04 |
Change
-0.320(1.43%) |
Mkt cap ! $67.86B | |||
| Open | High | Low | Value | Volume |
| $22.32 | $22.41 | $21.98 | $158.0M | 7.125M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 39363 | $22.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.05 | 1722 | 4 |
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| Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |