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Iron ore scores a win

Posted on 15 October 2008

From Mineweb.com: A little lift in market sentiment, and investors raise the value of listed iron ore stocks by billions of dollars. Following glimpses of hope that the global credit markets crisis has eased, investors raised the value of listed iron ore stocks by tens of billions of dollars on Tuesday.

The charge was led by Australian investors; the stock price of advanced developer-miner Fortescue rose by 55 percent on the day, increasing the market value of the stock to USD 8.6bln. The buying of iron ore specialists was widespread and determined on the day in Australia, one of the world’s leading iron ore countries. Stocks such as Strike, Admiralty, Gindalbie, United Minerals and Western Plains finished higher by more than 20%….. Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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