Fortescue Metals Group Limited
Industry: Materials
FMG Details
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Recovering Chinese markets drove the stock: Fortescue Metals Group Limited (ASX: FMG) surged over 6.8% on April 19, 2016 driven by the recovering housing data from China which is the major player for consuming Iron. March quarter results indicate a 4% increase in iron ore shipments and a ninth straight quarter of cost reduction with full year guidance maintained.
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Recommendation: FMG stock price surged 100% in last three months (as of April 18, 2016) and accordingly, we recommend a “Hold” at the current price of $3.32
March Quarter Production Summary (Source: Company Reports)
Worleyparsons Limited
Industry: Energy
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WOR Details
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New contracts: Worleyparsons Limited (ASX: WOR) surged over 6.8% on April 19, 2016 given the recovering commodity prices on the back of some respite coming in from China. The group has been continuously winning new contracts and recently got a five year contract for Engineering, Procurement and Construction Management (EPCm) services for BP-operated assets in Azerbaijan, Georgia and Turkey.
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Recommendation: WOR also has an outstanding dividend yield. We maintain our “BUY” recommendation at the current price of $6.26
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