InfoAnda - ArcelorMittal loss hits shares

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Diddy seeks new stars of Facebook generation | Technology | | 20 August 2009
Lebanon tribunal asks for Hariri trial in absentia | | 17 October 2011
Former South Africa president Mandela admitted to the hospital | | 9 December 2012

Windows Phone surpasses Symbian in Britain: survey | | 20 March 2012

Forum Views () Forum Replies ()

Read more with google mobile : ArcelorMittal loss hits shares

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: ArcelorMittal loss hits shares AFP - Thursday, July 30 PARIS (AFP) - - The world's biggest steel maker ArcelorMittal on Wednesday reported a second-quarter net loss of 792 million dollars (581 million euros) but forecast an improvement in the market later this year. ADVERTISEMENT The group said it expected a "gradual upturn," notably as China continued to import steel. Chief executive Lakshmi Mittal said in a statement that "in recent weeks, we have begun to see the first signs of a pick-up." But he cautioned that a return to production levels prevailing before the onset of the global financial crisis was not likely "before 2011." The net loss disclosed Wednesday, the company's third straight negative quarter, was more than double analysts' forecasts for 375 million dollars and compared with a net profit of 5.84 billion dollars 12 months earlier. The shortfall appeared to discourage investors. ArcelorMittal shares at mid-day were showing a loss of 4.24 percent to 24.25 euros on an overall Paris market that was 1.34 percent stronger. So far this year, the shares have gained 43 percent while the Paris market's CAC 40 index has risen by slightly less than 5.0 percent. The three months to June outcome marked the third quarter running in the red for the steel giant which lost 1.1 billion euros in the three months to March and 2.6 billion dollars in the three months to December. Second-quarter sales slumped by more than half from a year earlier to 15.18 billion dollars, reflecting a collapse in demand in its two key markets, the auto and construction industries. On the operating level, ArcelorMittal reported a profit of 1.22 billion dollars and said it expected this to rise to between 1.4 and 1.8 billion dollars in the third quarter to September. At Societe Generale, analysts said the results were disappointing. Analysts at Aurel brokerage said the company's guidance pointed to earnings before interest, tax, depreciation and amortisation (EBITDA) for the first nine months of the year of 3.4-3.9 billion dollars, noting that this was "a very long way" from the 6.2 billion dollars the house had previously expected for the whole of 2009. The world's second-biggest steel maker, Nippon Steel, also reported a quarterly loss on Wednesday of 42.25 billion yen (325 million euros). With plants operating at about half capacity since the end of 2008, some ArcelorMittal production had been restarted, in France, Belgium, Spain and the United States. Finance director Aditya Mittal said more furnaces could be brought back into production during the current quarter but did not provide further details. In emerging markets such as Brazil, steel mills were working almost at full capacity. He said that inventories of steel had fallen to very low levels on the main markets and that China, the biggest user of steel, was continuing to import while US demand was recovering and de-stocking was coming to an end in Europe. Unless there was a fresh deterioration in the economy, "we ought to see a gradual improvement in the second half (of the year) but a complete recovery will be slow," Aditya Mittal said. At the end of June, the group, which has launched a vast plan for people to leave the company on a voluntary basis, had 296,000 employees, down from 322,000 12 months earlier. The programme would be pursued to cut costs further, Aditya Mittal said in a telephone conference. Costs had already been reduced by 1.7 billion dollars since the beginning of this year. At the end of June, the group's net debt stood at 22.9 billion dollars. The company, which has raised more than 11 billion dollars in funding so far this year to reduce debt, is now close to its debt target of 22.5 billion euros by the end of 2009. ArcelorMittal has available funds of 22.7 billion dollars. Aditya Mittal said that no big operation affecting the balance sheet was to be expected in the foreseeable future. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business China to cut fuel price by 3%: govtAFP - Wednesday, July 29 Canon's profits plunge in first-halfAFP - Wednesday, July 29 Putnam cuts fund fees, restructures pricingAP - Wednesday, July 29 IBM to acquire SPSS for $1.2BAP - Wednesday, July 29 China to ban violent online gamesAP - Wednesday, July 29 Enlarge Photo ArcelorMittal loss hits shares Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Doctor gave Jackson drug that killed him: CNN Ex-boxing champ Forrest shot in back and killed Police raid Vegas home of Jackson doctor Lost love letter reunites couple after 16 years Rare Angolan antelope tracked by research team View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Wednesday, 29 July 2009
UN: Israel must allow building supplies to Gaza
Sprint Nextel buying Virgin Mobile
Police search Vegas home of Jackson doctor
US defense chief sees new US advisory unit in Iraq
Afghan poll official ambushed, U.N. sees challenges | International |
Monaco seeks global bluefin tuna trade ban
Iran bans opposition mourning ceremony
Japan gets first online service for political donations
Robbers kill eight in Baghdad bank heist
Nine killed as UN voices concerns over Afghan vote
Chambers, Ohuruogu in Britain's World Champs squad
140 prisoners from Iran election crackdown freed
Britain to withdraw remaining forces from Iraq
Honduras leaders under pressure as U.S. revokes visas | International |
U.N. force in Chad, CAR deploying too slowly: envoy | International |
South Africa gold miners agree pay deal, avert strike | International |
US Senate panel votes in favor of Supreme Court pick
Afghanistan aid ready to pick up Gitmo detainee
Dead baby's father says mother should be executed
Third case of Tamiflu-resistant swine flu in Japan
Minn. Somali to plead guilty to terrorism charge
Chinese leader stresses ethnic unity to minorities
Ala. police: Taser use on disabled man justified
Officials: Taliban recruited children as bombers
NTSB: Planes at increasing risk from large birds
Nine dead, 70 missing in Haitian boat capsize
Verizon Wireless, Qualcomm in mobile venture | Technology |
China says it seizes metals bound for NKorea
AP NewsBreak: 1 NC terror suspect still sought
US, China have pointed questions in private
Chief minister resigns in Indian Kashmir
Geithner says US and China seeking stability
Recession is chance to re-think values: Dalai Lama
Japan: Activist visit won't affect ties with China
Gunman hits Afghan campaign team
Hollywood studios sue file-sharing site
Japan tells Shinsei, Aozora to improve performance
Hollywood movie houses sue Pirate Bay operators
China to cut fuel price by 3%: govt
Canon's profits plunge in first-half
China to ban violent online games
China's Baidu, Discovery Channel launch Web site
India central bank says economy could grow faster
Turkmenistan eyes gas sales to Britain
China says inflation might revive in second half
Toyota global output, sales slide in January-June
Pakistan rate cut rides on IMF loan call -analysts
Megawati challenges Indonesia vote result
Fla. judge rules will on Kerouac's estate is fake
Indonesian conjoined twins die after 5 days
Fallen WWII soldiers still honoured in Asia's cemeteries
Drug agents raid Michael Jackson doctor for second time | Entertainment |
Hollywood movie houses sue Pirate Bay operators
Space tourism port to be sited in Abu Dhabi
Music Review: Overproduction foils Brooke Hogan
Jazz composer George Russell dies at 86
Pete Seeger marks his 90th year on a concert bash
Study: Fat People Spend More On Health Care
Dubliners decry U2's noisy all-night stage removal
Boat Capsizes Off Turks And Caicos, 9 Dead
Bloomberg Still Ahead In Mayoral Race But Sees Support Drop By Half
Taiwan's Lin pays tribute to Cunningham
Update: Judiciary Committee Votes To Support Sotomayor As Supreme Court Justice
Coleman Considering Running For Governor In 2010
Obama Holds Healthcare Town Hall As Democrats Concede Bill Unlikely Before Recess
Gates Visits Iraq In Unannounced Baghdad Trip
Clinton, Geithner Continue "Constructive" Talks On Day 2 Of U.S.-China Dialogue
Seven Men In North Carolina Charged With Terrorism
Senate Judiciary Panel Holds Confirmation Vote On Sotomayor
Drugs pose huge challenge for Afghan poll victor
Spanish soldiers injured as wildfires brought under control
, Microsoft near search deal: WSJ
Car bomb injures 46 at Spanish police barracks | International |
VW chief cool on capital hike for Porsche: report
Britons question Afghan war as bodies flown home
Texting increases crash risk 23 times: study
Sunbeds elevated to top cancer risk level: WHO
Iraqi forces raid camp of Iranian exiles
Gunmen kill 8 in Baghdad bank robbery, police say
Afghan poll official ambushed, U.N. sees challenges | International |
Discovery, Baidu launch website
Gates says U.S. urban pullout in Iraq going well
IBM buys software firm SPSS for $1.2 bln
Venezuela will freeze ties with Colombia: Chavez | International |
US general: Iran working to influence Iraq vote
U.S. envoy sees progress with Israel on peace push
Two Britons held in Iraq very likely dead: report | International |
Haitian migrant shipwreck kills 15, dozens missing | International |
140 prisoners from Iran election crackdown freed
Honduras leaders under pressure as U.S. revokes visas | International |
Iran frees 140 vote protesters
Pilots report problem with Air France speed sensors | International |
Gretchen Wilson, Sony Music Nashville part ways
UN orders Iranian to give up Facebook Web address
Colombian rebels say did not fund Ecuador's Correa | International |
Jakarta bomb blast hotels to re-open Wednesday | International |
Microsoft, Yahoo agree on ad partnership: source | Technology |
Online dating makes NY top city for singles | Technology |
Miss. judge to plead guilty to lying to FBI agent
Survey: Accessing files slows off-site workers | Technology |
Conflicting portrait of NC terror suspect emerges
IBM to buy analytics company for $1.2 billion | Technology |
Suspect in abortion doc's death pleads not guilty
Defense gives closing in Arizona killer's trial
911 caller in Gates case to speak publicly
Agents search Vegas home, office of Jackson doctor
House acts to protect marine turtles, sea otters
Judiciary Committee OKs Sotomayor for high court
Korea Hot Stocks
South Korea treasury bonds fall in cautious trade
Seoul shares open lower; Samsung Heavy up
S.Korea Jun c/a surplus up; imports grow
Qualcomm in sights of Japanese regulators
Cartoon housewife tests India's patience for porn
Indonesia expects 7% annual growth: vice president
Sunbeds elevated to top cancer risk level: WHO
Agents search Vegas home, office of Jackson doctor
Drug agents raid Jackson doctor for second time | Entertainment |
Fox's Glenn Beck: President Obama is a racist
Brits prove a challenge for Extreme Makeover | Entertainment |
New Backstreet Boys album due in October
Deadliest Catch seamen say fishermen not greedy | Entertainment |
List of top 20 prime-time shows in Nielsen ratings
Heavyweights Byatt and Coetzee on Booker longlist
House husbands go for TV glory in new U.S. show | Entertainment |
Mexico City offers insurance to bring back tourists
Leno's new show pegged a winner by research firm | Entertainment |
Capsule reviews: `Funny People' and other films
New Backstreet Boys album due in October | Entertainment |
Gretchen Wilson, Sony Music Nashville part ways
BBC opens up its U2 archives for two new shows | Entertainment |
Two Iraqi police killed in Iran rebel camp violence
Spain blames ETA for car bombing, 64 injured
Toshiba posts Q1 net loss of 610 mln dollars
Gates, in Iraq, seeks to ease Kurd-Arab tensions | International |
SAP posts better-than-expected net profit
India PM defends move to improve ties with Pakistan | International |
Microsoft releases security patch for Web browser
Iran says reformist to be released | International |
Uighur leader says 10,000 went missing in one night | International |
Iraq denies Iran exile killings, exiles show images | International |
Nigeria hunts Islamic sect, women and children freed | International |
Moldovan Communists face liberal challenge in poll | International |
Russian mafia godfather wounded by sniper | International |
Lawyers renew bid for Guantanamo detainee release
Chen verdict due on Sept 11: Taiwan court
China to reduce number of executions, paper says
US 'monitoring' Iraqi actions at Iranian camp
Uighur leader says nearly 10,000 'disappeared'
US, Britain talks on Afghanistan, Iran, Mideast
US, China pledge 'close cooperation' on world issues
U.S. Senate may drop public healthcare option
Jakarta bomb blast hotels to re-open Wednesday
Online dating makes NY top city for singles | Technology |
US makes new gesture to Syria
China praises US line on Uighur unrest
Colin Powell endorses NYC mayor's re-election bid
Myanmar's Suu Kyi says expects 'obvious' verdict
NYC librarian nominated to become US archivist
U.S. and China vow to lead global recovery
Parolee charged with murdering 17-year-old girl
Mass. woman killed, infant removed from her womb
Geithner: US, China response halted global crisis
Former lab worker charged with vandalism in Calif.
Chinese banks aim to slow lending pace: report
ArcelorMittal loss hits shares
Seoul shares end weaker, snap gaining streak =2
SK telecom to sell stake in US mobile company
IMF backs Indonesia stimulus
Bombed Indonesia hotels re-open: spokeswoman
SKorean creditors issue ultimatum to Ssangyong strikers
Seoul shares end weaker, snap gaining streak
Taiwan to review final bidders of AIG's Taiwan unit
Leno's new show pegged a winner by research firm
WRAPUP 1-NZ July business confidence jumps to 7-yr high
Drug agents raid Jackson doctor for second time
Jackson mom's request for estate info rejected
Viral wedding video gives Brown's Forever a boost | Entertainment |
Apatow stretches with flawed but funny People | Entertainment |
House husbands go for TV glory in new U.S. show
Cable hits Burn Notice, Royal Pains renewed | Entertainment |
BBC opens up its U2 archives for two new shows
Actor Rupert Everett Says Queen Elizabeth Is "Well Hung"
Paris Hilton Warns Young Girls From Making Humiliating Sex Tapes
Queen Elizabeth's Stolen Silver Cutlery Returned
Mom Delivers Baby On Wisconsin Interstate
German Tabloid Claims "Fat" Britney Angered Fans
Kate Moss Ruins Best Friend's Bachelorette Party By Fighting With Male Strippers
Tony Romo Bans Ex Jessica Simpson From His Dallas Home
Cameron Diaz Agrees To Marry Unknown Comic Book Fan At Comic-Con
Aluminum Made Transparent By X-ray Laser Produces New State Of Matter
Hand-Me-Downs For Brangelina's Daughter Shiloh
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01