ArcelorMittal, the world's largest steelmaker, cut its forecasts for demand in its main U.S. and European markets but reported a higher-than-expected core profit.
The Luxembourg-based company said on Thursday its third-quarter core profit (EBITDA), the figure most watched by the market, was $1.
06 billion, compared with the average forecast in a company poll of $930 million.
ArcelorMittal shares were up 8.2 per cent, making them among the strongest performers in the FTSEurofirst 300 index of top European shares. The seesaw.