HELSINKI, Feb 9- Finnish mining technology company Outotec missed quarterly earnings forecasts on Tuesday and did not propose a dividend, warning demand from miners would weaken further this year. Outotec is struggling as miners have cut spending due to low metal prices, and recent uncertainty regarding China's growth prospects has further hit its business,...» Read More
Weyerhaeuser, one of the world's largest paper and lumber companies, said Monday that it would probably have to close plants and restrict operations because of weak market conditions.
China will produce half the world's aluminium by the end of the next decade and will be largely self sufficient in the metal through 2010, a top executive at producer Alcan said on Friday.
Barrick Gold's prospects are stronger if it remains on its own, and the world's biggest gold miner has no interest in acquiring U.S. rival Newmont Mining, said Barrick Chief Executive Officer Greg Wilkins.
Energy stocks are still a solid investment for the long haul, say market strategists, though rampant speculation and big price swings could make it a bumpy ride for investors.
Courts in Paris and Rotterdam ruled on Monday against injunctions lodged by Arcelor minority shareholders aimed at blocking a shareholder meeting needed to finalise the firm's merger with Mittal Steel.
U.S. Steel is to acquire Stelco for about $1.1 billion to strengthen its position as a supplier of flat-rolled steel products in North America, the companies said.
Rio Tinto, the world's third largest miner by revenues, said Monday it has won U.S. antitrust approval for its $38.1 billion (28 billion euros) takeover of Alcan.
Swiss-Swedish engineering company ABB said on Monday it had agreed to sell its Lummus Global business to Chicago Bridge & Iron Company (CB&I) for an enterprise value of $950 million.
Before the recent downturn in the U.S. stock market, portfolio strategists and market prognosticators said the resiliency of the markets was a key sign of positive times ahead.
Steelmaker ThyssenKrupp on Friday reported a 62% increase in net profit in its fiscal third quarter as rising demand for steel lifted its sales.
St Gobain, the world's biggest building materials group, said on Tuesday it would buy clay and mortar company Maxit Group from Germany's HeidelbergCement in a deal worth around $3 billion.
Stocks are finding their feet on higher ground this morning as a positive tone embraces equities markets worldwide. Oil continues to back down from the new high struck earlier this week.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.
Timber company Weyerhaeuser reported better-than-expected quarterly earnings on Friday, as strength in its packaging products business helped offset weak demand for wood products from U.S. home builders.
Miner Anglo American unveiled plans to sell Tarmac, its U.K.-based road building unit, as it met forecasts with a 22% rise in first-half earnings and announced a further $4 billion share buyback.
International Paper said on Thursday its second-quarter profit rose on improved pricing and stable volumes, but earnings fell short of market expectations and pulled the company's shares down 2.7%.
Global miner Rio Tinto first-half profit fell 6%, hurt by higher costs and unfavorable exchange rates despite selling its copper, iron ore, and other industrial commodities at sharply higher prices.
A selling wave in global stock markets is sweeping futures lower this morning as subprime and credit woes once more rise to the surface. A new disclosure about a third troubled hedge fund at Bear Stearns is rattling investors.
ArcelorMittal, the world's largest steelmaker, reported a net profit of $2.72 billion for the second quarter as it sold more steel at higher prices to offset higher costs.
Stocks are ready to spring higher on the opening as economic data, earnings and some merger news gets investor attention this morning. GM's better-than-expected earnings report is adding a positive tone.