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Bloomberg reported Fortescue Metals Group Ltd. (ASX:FMG) fell to the lowest in more than three years in Sydney trading as the price of the steelmaking material extended losses. As quoted in the market news: Shares of Fortescue, which today was cut to hold from buy at Royal Bank of Scotland Plc, dropped 8.5 percent to A$3.12, its […]
Bloomberg reported Fortescue Metals Group Ltd. (ASX:FMG) fell to the lowest in more than three years in Sydney trading as the price of the steelmaking material extended losses.
As quoted in the market news:
Shares of Fortescue, which today was cut to hold from buy at Royal Bank of Scotland Plc, dropped 8.5 percent to A$3.12, its lowest close since June 9, 2009. Smaller rivals including Atlas Iron Ltd. (AGO) fell 4.8 percent, while Gindalbie Metals Ltd. (GBG) plunged 11 percent.