FMG has rallied over 50% from its panic October / November lows largely following the strong recovery in the iron price, at MM we enjoyed most of the rally through a quick “active play” but there might be more in the pie for some investors. FMG is forecast to pay a$ 1.92 fully franked dividend later this month which is clearly attractive for yield and franking credit hungry investors, we believe the stock looks solid around current levels which is likely to attract some attention in the coming days and weeks ahead.
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Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
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Performance for February & 4 stocks we like here and now
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Thursday 28th March – DOW up +477pts, SPI up +60pts
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MM is neutral / bullish FMG around $20-21
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