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Fortescue Ltd (ASX: FMG) is a global leader in the iron ore industry, known for its leading development of world class infrastructure and mining assets in the Pilbara region of Western Australia. Fortescue was founded in 2003 by Andrew Forrest, who is now one of Australia’s wealthiest people. The vast majority of Fortescue’s iron ore, a steel-making ingredient, is shipped and sold to Chinese customers.
The benchmark S&P/ASX200 (INDEXASX: XJO) index managed to finish 14.6 points, or 0.2%, higher at 7206.9, with the broader All Ordinaries (INDEXASX: XAO) index tracking that rise in percentage terms, adding 15.1 points to 7402.9.
Both benchmarks weakened into the close, as both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) fell 0.2% on Friday.
All Ordinaries (INDEXASX: XAO) and S&P/ASX200 (INDEXASX: XJO) fell 0.4% on Friday, but still managed to deliver a 2.3% gain for the week. The Fortescue Metals Group Ltd (ASX:FMG) share price is getting punished.
The Fortescue Metals Group Ltd (ASX:FMG) share price has declined 5% after the ASX resources share revealed a tough FY23 result.
The S&P/ASX 200 (INDEXASX: XJO) ended mostly flat on Friday. Here’s some of the key points you missed from ASX 200 trading this week.
A post-result bounce in the Commonwealth Bank of Australia (ASX: CBA) share price helped lift the Australian share market on Wednesday.
The S&P/ASX 200 (INDEXASX: XJO) price managed a tiny gain on Tuesday, with the Commonwealth Bank of Australia (ASX:CBA) share price in focus.
The S&P/ASX 200 (INDEXASX: XJO) could open modestly positive on Monday, with Sydney SPI 200 futures pointing to a slightly positive open. Here’s what you missed from inside the ASX 200 last week.
The local share market posted another strong day, adding 0.7%, as news of the Federal Reserve potentially pausing rate hikes boosted the property and technology sectors, up 3.3% and 2.2%, respectively.
