Big iron roars on FMG scuttlebutt

Wednesday, 5 August 2015

Big iron has hit the afterburners today as BHP and RIO jump 2% and FMG 9% on rumours of Chinese buyers for its assets and perhaps some subaltern RIO dividend expectations:

Idiocy spreads are still flat:

AGO is back to three 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.