Fortescue answers ASX please explain

Aspiring iron ore producer Fortescue Metals Group today responded to the Australian Stock Exchange's request for details regarding its recent spike in share price.

Fortescue's share price has risen from $6.75 on April 19 to $8.15 today.

The ASX has also questioned the company over the volume of Fortescue shares trade in this period, which has also increased.

The ASX asked FMG if it was aware of any information concerning the share price movement that had not been announced to the market, and also if the company had any other explanation for the price change.

Fortescue has responded by saying that it had provided all required information to the market in accordance with listing rules.

It also said that it had no knowledge of any specific reasons for the recent share price rise, or the increase in volume of stock traded.

Fortescue concluded by saying that it believed it was in compliance with its obligations under the ASX's listing rules.