Iron ore boom bodes well for minersâ dividends
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The major iron ore miners could tear up the record books once again in the next company reporting season and pay mammoth dividends as iron ore prices trade at their highest level in 10 years in the spot market.
BHP Group, Rio Tinto and Fortescue Metals Group all rolled out their highest ever dividends during the February earnings season, when iron ore prices were below where they are now.
Iron ore prices have soared to their highest levels in a decade.Â
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Iron ore with 62 per cent ore content was at $US189.61 a tonne, up 4.2 per cent, on Tuesday, according to Fastmarkets MB.
Georgia Senate race rattles markets, energy rallies
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Global markets sold-off on Wednesday as investors rushed to price in the prospect of Democrats taking full control of Congress in the US, with the party set to win a majority in the Senate.
While the result had not been declared at the market close on Wednesday, multiple news outlets were predicting the Democrats would pick up both seats in Georgia’s Senate run-off election, sending the local sharemarket and US futures tumbling.
Milford s William Curtayne.
Louise Kennerley
The S&P/ASX 200 Index plunged 74.8 points, or 1.1 per cent, to 6607.1, with energy the only sector spared from the sell-down after OPEC and its allies agreed to cut production further, surprising expectations.