Today’s progress report on the commodity bear market rally brings you sagging tidings as profit-taking seizes bourse. BHP is down -2.1%, RIO is down -1.9% and FMG swan-dived a meaty -9.2%:
There is no apparent reason other than Dalian falling another three points this morning to 373, and if the only thing that was driving the rally was the hope of higher iron ore prices then it is, shall we say, rooted sooner rather than later.
For gas, the damage is similar with WPL down -2%, ORG down -6.5%, STO down 4.6% and OSH up 0.5% on nothing at all:
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