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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.
Atlas Iron Limited (ASX:AGO) shareholders have woken to the news that its board has recommended the takeover offer from Gina Rinehart’s Hancock Prospecting. But Fortescue Metals Group Limited (ASX:FMG) is circling.
Here are the news headlines from the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) on Friday. In focus: Gentrack Group Ltd (ASX:GTK) reaffirms guidance and the Atlas Iron Ltd (ASX:AGO) board tips the Hancock offer.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is down by 0.5% at lunch.
Fortescue Metals Group Limited (ASX:FMG) announced that its board has approved the development of the West Australian Eliwana mine and rail project, estimated to cost $US1.275 billion.
Futures contracts for the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) index are pointing to a negative open on Monday morning with oil prices, Fortescue Metals Group Limited (ASX:FMG) and Fisher & Paykel Healthcare Corp Ltd (ASX:FPH) in the news.
The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended mostly flat on Friday as shares of Fortescue Metals Group Limited (ASX: FMG) lifted the ASX 200 higher.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is down by 0.59% at lunch.
The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) ended higher on Tuesday, according to Yahoo! Finance.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is up by 0.58% at lunch.
