It’s a good day for big iron with heavy buying in BHP and RIO both up well over 1% and FMG up 4%. There are a bunch of reasons, paramount being the suddenly falling Australian dollar on Janet Yellen hawkishness, but there is also the strangely large jump in the overnight spot price and firm futures. FMG might also be benefiting from its rumoured sell out to China, though if that were the case then RIO and BHP ought to be hurting. To the indexes:
Idiocy spreads are closing still:
And juniors not benefiting at all:
Advertisement
