Big iron equity undeterred by price massacre

Wednesday, 1 April 2015

Big iron ploughs on as if it’s all good today with BHP down a meager 2%, RIO an even more paltry 1.2% and FMG down only 2.3%. Over two days of iron ore price carnage, the two major’s share prices are actually up. The indexes:

The idiocy spreads have stalled at record wides:

Juniors are becalmed except for AGO which has fallen to another death-low of 12 cents:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.