ArcelorMittal

ArcelorMittal gets green light to buy Italy's Ilva

Paris - AFP

A consortium led by global steel giant ArcelorMittal said Friday the Italian authorities had cleared it to buy struggling steel producer Ilva, but thousands of jobs are threatened. The 1.8-billion euro ($1.9-billion) deal will see ArcelorMittal join forces with Italy's Marcegaglia to snap up the heavily indebted company, one of the most polluting industrial sites in Europe. Ilva currently hasRead more

ArcelorMittal steels investors for brittle profits

Paris - AFP

Global steel giant ArcelorMittal said Tuesday it earned a net profit of $700 million (633 million euros) last quarter, but warned low prices in the United States and rising input costs would squeeze future earnings. Despite intense competition from Chinese competitors, a modest recovery of prices had helped the company bounce strongly back into profitability in the second quarter withRead more

Spanish stock market rises 1.56 percent, closes at 9283 points

Madrid - XINHUA

The Spanish stock market index Ibex 35 rose 1.56 percent on Tuesday to close at 9,283 points, up from the 9,140 points of Monday. On Tuesday's session, Sacyr shares led rises climbing 8.36 percent, followed by BBVA, Tecnicas Reunidas, OHL, Caixabank and Banco Santander that rose 5.30 percent, 4.03 percent, 4.03 percent, 3.61 percent and 3.33 percent respectively. On theRead more

Spanish stock market rises 0.83 percent, closes at 8,497 points

Madrid - XINHUA

The Spanish stock market index Ibex-35 rose 0.83 percent on Monday to close at 8,497.60 points, up from the 8,427.60 points of Friday. On Monday session, ArcelorMittal shares led rises climbing 7.74 percent followed by Sacyr, Tecnicas Reunidas, Banco Popular, DIA and Banco Sabadell that rose 3.43 percent, 3.15 percent, 2.83 percent, 2.74 percent and 1.92 percent respectively. On theRead more

ArcelorMittal hits $3bn rights issue

Paris - AFP

Steel giant ArcelorMittal said Tuesday it had successfully completed a three-billion-dollar (2.64-billion-euro) rights issue aimed at cutting its debt pile amid a global steel glut. The group, the world's largest steelmaker, announced a total subscription rate of 126.9 percent and issued 1.6 billion new shares an issue after strong investor support. ArcelorMittal announced the rights issue in February, saying itRead more

ArcelorMittal to mine stock market

Paris - Arab Today

ArcelorMittal said Friday it would ask shareholders for fresh funds, sell assets and slash costs after falling commodity prices pummelled its performance last year, leaving a gaping hole in its accounts. The world's largest steelmaker reported a net loss of $7.95 billion for 2015, more than four times the previous year's net loss of $1.86 billion in 2014. To helpRead more