0001 GMT [Dow Jones] Fortescue Metals (FMG.AU) down 10% at A$1.935 on concern over
shipping claims and funding issues. Fortescue is in arbitration after suspending shipping
contracts; Greek shipping major Angelicoussis Group has filed a US$129.8 million claim,
Singapore's Armada has filed for $2.5 million. Some concern also at a A$3.6 million
share issue announced Friday to a contractor for goods and services provided; not a
significant announcement on its own but some worries it could signal FMG is so short on
cash it is being forced to issue shares to make payments. There is also an unsourced
media report that potential Chinese equity investors are baulking at a 100% premium being
demanded by Fortescue CEO Andrew Forrest in private talks. FMG not immediately available
for comment. On the charts, FMG has formed a double top near A$3.00. Having slipped below
support at A$2.05 today, FMG now has scope to test Nov. 20 low at A$1.16. (APW, DWR)
0001 GMT [Dow Jones] Fortescue Metals (FMG.AU) down 10% at...
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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 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |