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.
Arcelor Mittal (NYSE:MT)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Arcelor Mittal Charts.
Arcelor Mittal (NYSE:MT)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Arcelor Mittal Charts.