Fortescue Metals Group (FMG)
September quarterly production numbers are due out from Fortescue this afternoon.
Rio Tinto posted record production and shipments from its Western Australian operations in the quarter, so the market should expect a similar result from Fortescue.
Fortescue's stock has surged over 12% in the past five days, encouraged by the iron ore price remaining stable at $US130 per tonne on positive Chinese data.
The current iron ore price is higher than market forecasts, providing Fortescue with the opportunity to deleverage faster than expecting, reigniting investor interest.
There has been renewed attention in fund managers Perpetual (PPT) and Platinum Asset Management (PTM) over the past week and they are well placed to receive more equity inflows. Confirmation the US has reached a resolution on the government shutdown and debt ceiling will calm investors with long-term views.
The recent trend has been positive for the flow of funds, largely reflecting strong investor sentiment during September.
For the September quarter Perpetual reported its first quarter of net inflows in more than four years. At the same time Platinum’s funds under management grew at just under 4%.