ArcelorMittal SA's share price jumped 21% to R3.90 on Friday morning after the local operation of the Luxembourg-based steel making multinational issued a trading statement.
ArcelorMittal said it expected to report on February 7 that its basic loss per share for the year to end-December would be about R1.25, nearly a quarter of the prior year's R4.69.
Its headline loss per share — which excludes about R3bn it gained by selling its half of MacSteel's South African operations — would be about 90c versus the prior year's R2.30.
ArcelorMittal SA jumps 21% on trading update
ArcelorMittal SA's share price jumped 21% to R3.90 on Friday morning after the local operation of the Luxembourg-based steel making multinational issued a trading statement.
ArcelorMittal said it expected to report on February 7 that its basic loss per share for the year to end-December would be about R1.25, nearly a quarter of the prior year's R4.69.
Its headline loss per share — which excludes about R3bn it gained by selling its half of MacSteel's South African operations — would be about 90c versus the prior year's R2.30.
After ArcelorMittal SA released its interim results on August 1, its share price rocketed from R3.58 to R5.15 within a week, but subsequently settled back to hover around R3.60.
On the Amsterdam stock exchange, ArcelorMittal's parent company was down 0.5% to €20.20 on Friday morning.
laingr@businesslive.co.za
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