Big iron equity struggles again

Thursday, 16 April 2015

BHP is up 2.2% today but not as much as it should be given the leap in oil. RIO is down marginally as Goldman tore its investment case to pieces and FMG is still up 6% after its stellar but futile cost cutting efforts. To the index:

The idiocy spreads have finally bottomed and begun to reverse:

Something of divergence in the junior cemetery with BCI threatening new lows but ARI jumping 12%:

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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.