MARKETS SPECTATOR: Fortescue jitters

The market is far from convinced by Fortescue's cost saving strategy, but it looks as though fears are confined to the one stock.

Targeted cost savings of $300 million per year as well as the capex reduction of $1.6 billion over 2013 will definitely help boost the company’s balance sheet and ease possible concerns over funding issues, but the market looks far from convinced.

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