Fortesque Metals

Fortescue Metals Group (FMG), an Australian mining company has announced that, it is reviewing the legal status of their shipping contracts as a result of the disagreements developed from the decision of suspending two-third of its long-term shipping contracts.

Sundance Resources (SDL) was the overall best performing stock taking in a 47.05 percent increase. The technical chart of the Sundance Resource stock price shows the rise and fall of their stock price. Last week presented a spike which broke the 100 day exponential moving average. Also note that the chart is in logarithmic scale (which displays price movements which is proportional with respect to percentage values) and also the spike in volume.

Fortesque Metals (FMG) was the best performing stock on the Australian Stock Exchange ASX200 index this week for week 19 of 2007. Fortesque closed the week up 18 percent or $5.23 closing the week at $34.45. The stock is also up by 54 percent for the month. The All Ordinaries index closed at 6319.7 and the ASX200 index closed at 6312.5.

Fortescue Metals (FMG) was the best performing company on the Australian sharemarket this week (winner of the week for week 18 of 2007). The mining company gained 22 percent on the week after it signed a new iron ore deal with China. Fortescue was the best performing company on the ASX200 index. The company share price closed the week at $29.22 increasing by $5.18 in a week.