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Stock Market & Financial Investment News

News Breaks
January 25, 2013
07:13 EDTMTArcelorMittal Liege announces intention to permanently close coke plant
AcelorMittal Liege yesterday informed the local works council of its intention to permanently close a number of additional assets due to a further weakening of the European economy and the resultant low demand for its products. in order to respond to these structural market changes and further adapt to the reality of demand in Europe, the following six flexible lines need to be closed:- The hot strip mill in Chertal - One of the two cold rolling flows in Tilleur - Galvanisation lines 4 and 5 in Flémalle - Electrogalvanizing lines HP3 and 4 in Marchin. Additionally, the company is proposing that the coke plant, which is no longer viable due to the excess supply of coke in Europe, also be permanently closed. The company plans to continue to operate the five core lines which employ approximately 800 people. These five lines are strategic due to their dedicated high quality products, specialized processes and technological innovation.
News For MT From The Last 14 Days
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May 15, 2015
07:53 EDTMTArclorMittal 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.
May 14, 2015
11:10 EDTMTArcelorMittal 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.
10:53 EDTMTArcelorMittal gaps up bullishly, levels to watch
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