ArcelorMittal chief scales back ambitions amid slow global economy, WSJ says In an interview, ArcelorMittal (MT) chief Lakshmi Mittal says his goal is to improve profits rather than to grow aggressively through investments in China, India and mining, says the Wall Street Journal. Reference Link
ArclorMittal upgraded to Buy from Neutral at BofA/Merrill BofA/Merrill upgraded ArcelorMittal to Buy and established a $13.75 price target. The firm believes a margin recovery is unfolding in European steel driven by steel export declines out of China and potential trade protectionism in Europe.
ArcelorMittal calls active on sharp rally ArcelorMittal June and September 12 calls are active on total call volume of 13K contracts (1K puts). June call option implied volatility is at 37, September is at 35; compared to its 90-day average of 36. Active call volume suggests traders taking positions for large near term price movement.