European equities closed higher on Friday after a choppy end to trading in July, as investors eyed key earnings and data from the U.S., and slipping commodity prices.» Read More
Steelmaker ArcelorMittal raised a bigger-than-expected $4 billion in a share and convertible notes offering, it said on Thursday, to fix its debt-laden balance sheet.
Some of the names on the move ahead of the open.
ArcelorMittal, the world's biggest steelmaker, will sell a $1.1 billion stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker POSCO and Taiwan-listed China Steel Corp, China Steel said in a statement.
An embarrassing derailment of France's 75 percent millionaires' tax may open an opportunity to water down a scheme that had damaged the country's image with international investors.
Take a look at some of Friday's midday movers:
European shares closed lower on Friday as U.S. politicians continued to wrangle over averting the "fiscal cliff" — a series of tax increases and spending cuts that are set to kick in at the start of next year and could threaten the U.S. economy.
France's industry minister, Arnaud Montebourg, has defended proposals to nationalise two of ArcelorMittal's steel plants.
François Hollande demanded on Tuesday that Lakshmi Mittal, the steel magnate, guarantee the long-term future of workers at a disputed plant in northern France or face the threat of a state takeover of the operations.
Plans by Arcelor Mittal to close two furnaces in North Eastern France have led to a bitter dispute, with one minister claiming the steel magnate is no longer welcome in France.
BRUSSELS, Nov 6- Agency Moody's cut its rating for the debt of ArcelorMittal to junk with a negative outlook on Tuesday, reflecting a collapse in world steel markets it said would get worse before they got better.
BRUSSELS, Nov 6- Ratings agency Moody's cut ArcelorMittal's long-term debt to junk status, saying the steelmaker's debt-cutting efforts had been modest and its market would likely get worse before it got better. Moody's downgraded the world's largest steelmaker's senior unsecured notes to Baa3 from Ba1 on Tuesday and maintained a negative outlook.
*Proposes dividend of $0.20 from 2013, vs $0.75 in 2012. BRUSSELS, Oct 31- ArcelorMittal, the world's largest steelmaker, plans to slash its dividend and focus on cutting debt after slowing demand from China and sluggish European markets drove it to a third-quarter loss.
BRUSSELS, Oct 31- ArcelorMittal, the world's largest steelmaker, said it would slash its dividend and focus on cutting debt after slowing demand from China and sluggish European markets drove it to a third-quarter loss.
PARIS, Oct 31- European stock index futures signalled a mixed open on Wednesday as disappointing earnings from ArcelorMittal and Anheuser-Busch InBev rekindled worries over the outlook for corporate profits.
Lufthansa delivered significantly better than expected profits in the third quarter and pleased the market with a pledge from Germany's flagship carrier to continue to cut costs in order to maintain profit margins.
ANGUL, India, Oct 29- A few hundred metres from the high walls and barbed wire guarding billionaire Naveen Jindal's upcoming steel plant, a dozen men have gathered at a tea stall.
PRAGUE, Oct 12- Russian steelmaker Evraz has temporarily shut its Czech steel production line due to low demand and the company's effort to run down its raw materials inventory, a spokesman said on Friday. The Vitkovice steel mill is a key customer of the Czech unit of ArcelorMittal which supplies it with raw materials.
Oct 11-=============================================================================== Summary analysis-- Hyundai Steel Co.----------------------------- 11- Oct-2012=============================================================================== CREDIT RATING: BBB-/Stable/-- Country: Korea, Republic Of Primary SIC: Steel foundries, nec Mult. CUSIP6: 44919 Q=============================================================================== Credit Rating History: Local currency Foreign currency 14- Nov-2010 BBB-/-- BBB-/--=============================================================================== Rationale.
NEW DELHI, Oct 10- Tata Steel's Europe unit will receive the first iron ore shipment from its Benga project in Mozambique by end-October, a top official said, a first step towards addressing the cost volatility affecting its European operations.
PARIS, Oct 10- European stocks are set to fall on Wednesday, losing ground for the third straight session on mounting worries over corporate results as the earnings season gets under way. ,for Germany's DAX and for France's CAC were down 0.1-0.4 percent. Late on Tuesday, U.S. aluminium major Alcoa.