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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.
Dubber Corp Ltd (ASX: DUB), Alcidion Group Ltd (ASX: ALC), Fortescue Metals Group Ltd (ASX: FMG) and Wesfarmers Ltd (ASX: WES) feature on this week’s Australian Investors Podcast.
The BHP Group Ltd (ASX:BHP) share price is currently down by 7%. The S&P/ASX 200 Index (ASX: XJO) is also down, it’s in the red by 2%.
The Fortescue Metals Group Limited (ASX: FMG) share price has fallen after the mining giant released its FY22 result.
S&P/ASX200 (INDEXASX:XJO) closed down 1.2 per cent on Tuesday but the Altium Limited (ASX:ALU) share price took flight on impressive results.
The Fortescue Metals Group Limited (ASX:FMG) share price is down 1% after the iron ore miner’s African news about the Gabon project.
The Fortescue Metals Group Limited (ASX:FMG) share price is in focus this week after the iron ore giant released its Q4 update.
The S&P/ASX 200 (INDEXASX:XJO) was mostly flat on Tuesday. ASX tech shares like WiseTech (ASX:WTC) led the ASX 200 higher on Monday.
Australian shares or the S&P/ASX 200 (INDEXASX: XJO) fell 0.6% on Monday despite opening positively, as commodity and energy prices fell across the board. The ASX 200 selloff in energy and materials finished at 5.1 and 4.6 per cent respectively, amid growing concerns about the outlook for the global economy.
The S&P/ASX 200 (INDEXASX: XJO) and All Ordinaries (ASX: XAO) just capped off its worst week since March 2020, falling 1.8 per cent on Friday and dragging the ASX200 down 6.6 per cent for the week. The 6.6 per cent fall in the ASX 200 followed a 4.2 per cent drop in the prior week which now has the index nearing a bear market.
