On Thursday, Shares of ArcelorMittal SA (ADR) (NYSE:MT), gained 2.08% to $6.38.
ArcelorMittal and IMETAL, an Algerian state-owned company, have reached an outline agreement for the restructuring of the shareholding of the companies ArcelorMittal Algeria, ArcelorMittal Pipes and Tubes Algeria and ArcelorMittal Tébessa.
The restructuring follows the strategy of the Algerian Government to ensure the promotion and development of the national steel industry and to promote self-sufficiency in steel. The restructuring is aligned with ArcelorMittal`s strategy of asset portfolio optimisation.
The restructuring plan will see ArcelorMittal transfer its minority shareholding in both ArcelorMittal Algeria and ArcelorMittal Tebessa in addition to its majority participation in ArcelorMittal Pipes & Tubes Algeria, with the state of Algeria controlling the full shareholding of these entities. Furthermore, ArcelorMittal will continue its technical support for the successful implementation of El Hadjar Complex development plan.
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Shares of Planned Hotels and Resorts Inc (NYSE:BEE), inclined 0.14% to $14.02, during its last trading session.
The stock was trading on above-average volume. The stock traded at a volume of 7,881,200 shares at a price gain of 0.14%. The share price is now up 9.53% for the past three months. Latest closing price was 1.49% above its 50-day moving average and 7.86% above its 200-day moving average.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts.
Finally, Procter & Gamble Co (NYSE:PG), ended its last trade with 0.90% gain, and closed at $74.38.
The Procter & Gamble Company, will webcast a negotiation of its first quarter earnings results on Friday, October 23, 2015 starting at 8:30 a.m. ET.
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged products worldwide. It operates through five segments: Beauty, Hair and Personal Care; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
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