Materials Down After Arcelor Report - Materials Roundup
February 05 2016 - 4:30PM
Dow Jones News
Shares of raw-materials companies fell after another hefty loss
reported by a metals giant. ArcelorMittal, the world's largest
steelmaker, said Friday it would issue $3 billion in shares to
strengthen its balance sheet after its fourth-quarter loss
ballooned to $6.7 billion in the quarter from just under $1 billion
a year earlier. Quarterly revenue sank 25% to $14 billion, as
falling prices of iron ore and steel hammered its performance.
Impairment charges of $4.8 billion largely related to its iron-ore
operations led to a full-year loss of $7.9 billion.
-By Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
February 05, 2016 16:15 ET (21:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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