Despite Overseas Weakness, US Durable Goods Rise
ArcelorMittal
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Stocks finished modestly higher Friday with major indexes posting their third week in positive territory and the Dow and S&P 500 closing at new record highs.
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FRANKFURT, May 15- German steelmaker ThyssenKrupp took another writedown on the value its Steel Americas business, driving it to an unexpected quarterly loss but raising hopes it is closer to selling the troubled asset. At 0820 GMT, ThyssenKrupp shares were up 4 percent at 15.715 euros, among the biggest rises by a European blue-chip stock.
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Stocks finished modestly higher Friday with major indexes posting their third week in positive territory and the Dow and S&P 500 closing at new record highs.
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ArcelorMittal, the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe.
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U.S. stock index futures pointed to a higher open on Friday as the global risk-on rally regained strength in early trade in Asia and Europe.
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Check out which companies are making headlines before the bell Friday:
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BRUSSELS, May 10- ArcelorMittal, the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe. The $500- billion- a-year steel industry, a gauge of the global economy, has been hit hard by a drop in demand from austerity-ravaged Europe and signs of slowing growth in China.
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*ArcelorMittal, BT, Generali results beat expectations. LONDON, May 10- European equities scaled fresh five-year highs on Friday, bolstered by strong earnings numbers from steelmaker ArcelorMittal and telecoms group BT and expectations of continued central bank stimulus.
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*India's federal gov't to decide on POSCO iron ore mining licence- court. *POSCO says order will help to expedite project.
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Paul Renken, senior geologist and mining analyst at VSA Capital, questions ArcelorMittal's steel prices outlook, and discusses what it could do to reach its higher profit guidance for 2013.
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*ArcelorMittal, BT, Generali results beat expectations. LONDON, May 10- European equities punched fresh five-year highs on Friday, continuing to draw support from central bank stimulus, and with steelmaker ArcelorMittal and telecoms group BT jumping on strong earnings.
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*India's federal gov't to decide on POSCO iron ore mining licence- court. NEW DELHI, May 10- POSCO's planned $12 billion project in India got a boost on Friday after a top court said the federal government will decide on giving the South Korean steelmaker's long-delayed plant preferential access to iron ore.
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LONDON, May 10- European equities edged up to fresh five year highs on Friday, continuing to draw comfort from central bank stimulus and with steelmaker ArcelorMittal jumping on strong earnings. "It's up, up and away," said Justin Haque, a broker at Hobart Capital markets.
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At 0603 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.02-0.18 percent.
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NEW DELHI, May 10- India's federal government will decide if South Korean steelmaker POSCO can have preferential access to an iron ore mine for its planned $12 billion steel plant, a top court said, providing a boost to the troubled project billed as the country's largest foreign direct investment.
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*Buy calls for further upside- Louis Capital's Troin-Lajous. Italy's Banca Popolare di Milano was among Europe's top losers, sliding 8.3 percent on concerns that a plan to transform the cooperative bank into a joint-stock company could be delayed, or even dropped.
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U.S.-listed shares of BH Billiton PLC rose 3.6 percent to $57.56 and Arcelormittal gained 2.4 percent to $12.65. The BNY Mellon index of leading American depositary receipts. The BNY Mellon index of leading European ADRs added 1.1 percent.
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*Cap hike of $750 mln for Brazil plant considered- source. FRANKFURT, Germany, May 3- Germany's ThyssenKrupp is considering keeping a stake in Brazilian steel mill CSA, which would force it to inject more money into the business, a person familiar with the matter said. "One of the options that has emerged is that ThyssenKrupp would sell a one-third stake to CSN.
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This diary of South African corporate events is updated every business day. For Southern& South Africa news diary click here.
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This diary of South African corporate events is updated every business day. For Southern& South Africa news diary click here.
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PARIS, April 30- Companies that shut down viable industrial sites in France rather than selling them could be fined if draft legislation by lawmakers from the ruling Socialist party becomes law.