Fortescue Metals Group Ltd

The Australian stocks market opened higher for a fourth straight day led by financial sector. The benchmark ASX 200 share index was up 0.36 per cent while the broader All Ordinaries increased 0.26 per cent in early trade.

The Australia share market Monday closed firmer on hope of a gradual appreciation of the Chinese yuan. At the close, the benchmark S&P/ASX200 index rose 60.7 points, or 1.33 per cent, to 4612.6 points and the broader All Ordinaries index added 58.6 points, or 1.28 per cent, to 4632.7 points. The market was also inspired by the news that Australian federal government struck a A$11 billion deal with Telstra over the planned national broadband network.

Fortescue Metals Group (ASX:FMG) said today it will sign a cooperation agreement with the Chinese engineering group China Gezhouba Group Company (SHA:600068) for Fortescue's expansion at its Chichester Hub operations in Western Australia.

Aluminum Corp of China (SHA:601600) (HKG:2600), or Chalco, is three weeks away from deadline to submit a feasibility study of developing a refinery for the Aurukun bauxite deposit in Queensland. The state government has indicated that Chalco has to build an aluminium refinery on the state's east coast as part of the requirements to secure the lease.

The Australian shares opened slightly higher this morning despite Wall Street and European markets posted losses overnight. The local market was supported as investors were hunting for bargains following a series of significant falls in recent sessions. Yesterday the Australian market closed at its nine- month low after the global markets fell on Germany's ban on naked short selling.

Shares in Downer EDI Ltd (ASX:DOW) surged after the engineering and infrastructure company Friday said it had been awarded preferred tenderer status on a A$3 billion six-year contract with Fortescue Metals Group (ASX:FMG).

Atlas Iron (ASX:AGO) is pleased to announce that the Port Hedland Port Authority has granted it permission to make additional shipments between June and September 2010 via Berth 1, enabling the Company to boost its sales at a time of strong iron ore prices.

Atlas Iron Limited (ASX:AGO) is pleased to provide a Quarterly Activities Report for the period ending 31 March 2010.

Dynasty Metals Australia Limited (ASX:DMA) is pleased to provide a Quarterly Activities Report for the period ending 31 March 2010.

The Australian stock market has opened stronger led by financial shares, as Wall Street rebounded after investors reassessed the potential effects of the fraud case against Goldman Sachs. The benchmark S&P/ASX200 index and the broader All Ordinaries index both were up 0.5 per cent in early trade.