ASX:FMG

25 stories mentioning ASX:FMGUpdated 9d ago

Every FINWIRES story that references ASX:FMG, newest first.

ASX Preview: Australian Shares to Fall as Oil Prices Surge on Escalating Middle East Tensions; Newmont Posts Higher Q1 Adjusted Earnings, Sales

Australian shares are poised to fall on Friday as oil prices surge amid renewed tensions in the Middle East, including reports of military activity near Tehran and growing fears of disruption in the Strait of Hormuz.Broader risk sentiment is also under pressure due to uncertainty over the Israel-Lebanon ceasefire extension and continued clashes in southern Lebanon.Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.4%, while the Nasdaq Composite declined 0.9%.In the macroeconomy, investors are eyeing the release of Australia's consumer price index report next week.In corporate news, Newmont (ASX:NEM) reported Friday first-quarter adjusted earnings of $2.90 per share on revenue of $7.31 billion, compared with adjusted earnings of $1.25 on revenue of $5.01 billion a year earlier.Fortescue (ASX:FMG) reported total iron ore shipments of 48.4 million wet metric tonnes for the quarter ended March 31, up from 46.1 million wet metric tonnes in the year-earlier period.Australia's benchmark index fell 0.6% or 50.2 points to close at 8,793.40 on Thursday.

ASX 200ASX:FMGASX:NEM

Asia97d ago

Fortescue Posts Higher Fiscal Q3 Total Iron Shipments, Maintains Fiscal 2026 Guidance

Fortescue (ASX:FMG) reported total iron ore shipments of 48.4 million wet metric tonnes (wmt) during the third quarter ended March 31, according to a Friday Australian bourse filing.The company recorded iron ore shipments of 46.1 million wmt for the quarter ended March 31, 2025, per the filing.Total ore mined during the quarter increased to 59.5 million wmt from 55.5 million wmt in the quarter ended March 31, 2025, while ore processed rose slightly to 47.8 million wmt from 47.6 million wmt in the same period, the filing said.The company maintained its fiscal year 2026 guidance of 195 million to 205 million tonnes of iron ore shipments, energy capital expenditure of about $300 million, and net operating capital expenditure of roughly $400 million.

ASX:FMG

Asia97d ago

Fortescue to Invest $680 Million to Develop Western Australia Green Energy Project

Fortescue's (ASX:FMG) board approved an investment of $680 million to develop new green energy infrastructure in the Pilbara region in Western Australia as part of a broader $6.2 billion decarbonization program, according to a Friday Australian bourse filing.The company will develop the 200-megawatt (MW) Pilbara Green Energy Project, to be completed by 2028, with a pathway to multi-gigawatt expansion beyond 2030, the filing said.By 2028, Fortescue's previously announced green grid will comprise 1.2 gigawatts of solar energy, 600 MW of wind energy, 4 gigawatt-hours to 5 gigawatt-hours of battery storage, and 620 kilometers of transmission lines, per the filing.

ASX:FMG

Asia Markets111d ago

Australian Shares Flat; Magellan Financial Group Shareholders Approve Barrenjoey Merger

Australian shares were flat with a negative bias on Friday's close, as investors await talks between the US and Iran on ending the conflict in Pakistan this weekend.The S&P/ASX 200 Index was little changed to close at 8,960.60.US President Donald Trump said Iran was doing a "very poor job" of allowing oil to pass through the Strait of Hormuz. Iran is seeking to collect a toll on oil tankers passing through the strait. Brent crude futures rose 1% to $96.83 per barrel.On the domestic front, the total number of dwellings approved in Australia rose nearly 30% to 19,022 in February from 14,669 in the previous month, according to seasonally adjusted data from the Australian Bureau of Statistics.A disparity between supply and demand has resulted in divergent home value trends in Australia over the past several years, Cotality said in a report. Between the first quarter of 2020 and the third quarter of 2025, the sharpest growth in home values was concentrated in states where population growth has significantly exceeded the rate of dwelling completions, pointing to Western Australia and Queensland as primary examples.Bendigo Bank Chief Economist David Robertson expects the Reserve Bank of Australia (RBA) to hold the cash rate steady in May, but a third rate hike for the year is likely in August.In company news, Magellan Financial Group (ASX:MFG) said its shareholders approved a resolution to issue consideration shares to the Barrenjoey parties and an affiliate of Barclays as part of a proposed merger at an extraordinary general meeting on Friday.Fortescue (ASX:FMG) ramped up the delivery of an industrial, fully-integrated green energy grid amid plans to power all of its operations in Western Australia's Pilbara region for 24-hour periods without fossil fuels in 2027. Its shares fell 1% on market close.Lastly, Life360 (ASX:360) laid off an undisclosed number of employees, as part of plans to reshape the company into an "AI-native model," according to a social media post by Chief Executive Lauren Antonoff. Its shares closed down 3%.

ASX 200ASX:360ASX:FMGASX:MFG

Asia Markets111d ago

ASX Preview: Australian Shares to Fall as Middle East Conflict Escalates; Fortescue Ramps Up Delivery of Industrial, Integrated Green Energy Grid to Eliminate Use of Diesel

Australian shares are poised to fall on Friday as escalating fears of a Middle East conflict, including intensified Israeli strikes in Lebanon, threats around the Strait of Hormuz, and fragile ceasefire diplomacy involving Iran and the US, weigh on global risk sentiment and energy supply outlooks.Overnight, the S&P 500 and the Dow Jones Industrial Average each rose 0.6%, while the Nasdaq Composite gained 0.8%.In the macroeconomy, Australia's home values are diverging sharply across states, with the strongest growth in Western Australia and Queensland as population gains outpace new housing supply and construction pipelines remain tight, Cotality said in a Friday report.In corporate news, Fortescue (ASX:FMG) is targeting the elimination of diesel as a fuel as part of an industrial, fully-integrated green energy grid dedicated to eliminating fossil fuels, planning to power all of its operations in Western Australia's Pilbara region for 24-hour periods without fossil fuels in 2027, according to a Friday Australian bourse filing.Monadelphous Group (ASX:MND) has secured new construction and maintenance contracts and extensions worth around AU$145 million across key resource sector operations in Australia and Papua New Guinea, according to a Friday filing with the Australian bourse.Australia's benchmark index rose 0.2% or 21.4 points to close at 8,973.20 on Thursday.

ASX 200ASX:FMGASX:MND

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