Fortescue Signs Pact With Vale
Source: BFW (Bloomberg First Word)
Tickers
FMG AU (Fortescue Metals Group Ltd)
VALE5 BZ (Vale SA)
BHP AU (BHP Billiton Ltd)
RIO LN (Rio Tinto PLC)
To de-activate this alert, click here
UUID: 7947283
(Bloomberg) -- Cos to seek long-term opportunities, including JV.
Alert: HALISTER- Iron ore rose 18.6% yday, biggest one-day gain on record, according to a price index compiled by Metal Bulletin
- BHP Billiton ADR +5.4%; Rio Tinto ADR +5.4%
- FMG: 7 buys, 5 holds, 9 sells, avg PT A$1.99 (36% downside from yday close): Bloomberg data
- Short interest 26% of float, 52-wk high 31% in April, low 22% on Feb. 4: Markit data
- FMG +44% in past yr vs AS51 -12%
- Feb. 25: Junk rout hands Fortescue scope to slash more debt
- Feb. 24: Fortescue CEO says will keep eye on asset sales
- Feb. 24: Cuts cost guidance, affirms output target for FY16
Source: BFW (Bloomberg First Word)
Tickers
FMG AU (Fortescue Metals Group Ltd)
VALE5 BZ (Vale SA)
BHP AU (BHP Billiton Ltd)
RIO LN (Rio Tinto PLC)
To de-activate this alert, click here
UUID: 7947283