Shares of ArcelorMittal SA (ADR) (NYSE:MT), surged 7.57% to $6.25, during its last trading session. The share price of this stock traded recently in a range of $6.16 to $6.61. The company now has a market value of $9.65 billion.
For this company, beta value at 2.53 represents it is more volatile to the shift in the market. If we take a look on its volatility, 5.01% was seen in a week and for the month it was 3.54%.
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.
Finally, Energy Transfer Equity LP (NYSE:ETE), ended its last trade with 3.78% loss, and closed at $24.69.
The stock closed at a distance of 2.70% from 20-day simple moving average. In the last trading session, the stock’s price moved -17.35% below its 200 day moving average, changing hands as low as $23.95 per share. The stock is presently trading -7.46% below its SMA 50.
Bayou Bridge Pipeline, LLC (Bayou Bridge) declares the launch of a binding expansion open season to assess additional interest in transportation service from Nederland, Texas, to refining markets in Louisiana on the Bayou Bridge Pipeline (BBP). Bayou Bridge is jointly owned by auxiliaries of Phillips 66 (PSX), Energy Transfer Partners, L.P. (ETP) and Sunoco Logistics Partners L.P. (SXL).
Construction is already underway on the BBP 30-inch pipeline segment from Nederland, Texas, to Lake Charles, Louisiana. Bayou Bridge anticipates commercial operations for this segment to start in the first quarter of 2016. The results of the expansion open season will be used by Bayou Bridge to determine the diameter of the BBP pipeline segment from Lake Charles to St. James, Louisiana. At St. James, BBP has agreed to a connection with NuStar Energy L.P.’s crude oil terminal and is in negotiations with additional parties to connect to the extensive existing crude oil terminalling infrastructure in the region, counting the Plains Marketing, L.P.’s crude oil terminal. The in-service date for commercial deliveries by Bayou Bridge to St. James, Louisiana, is forecast for the second half of 2017.
Energy Transfer Equity, L.P., through its auxiliaries, provides diversified energy-related services in the Unites States. It owns and operates about 7,700 miles of natural gas transportation pipelines and 3 natural gas storage facilities located in the state of Texas; and about 12,800 miles of interstate natural gas pipeline.
Shares of American International Group Inc (NYSE:AIG), inclined 0.24% to $57.82, during its last trading session. In the last trading session, the stock moved on low volume, trading at a volume of 7.85 M as compared to its average daily volume of 7.95 million shares.
The stock, as of recent close, has shown weekly upbeat performance of 1.76% which was maintained at -1.93% in 1-month period.
AIG Private Client Group, a division of American International Group, Inc. (AIG) that serves high net worth clients, recently marked the 10-year anniversary of its Wildfire Protection Unit (WPU) with Montecito, CA, officials, providing pro-bono fire protection to key areas in the Montecito Fire Protection District in preparation for the height of wildfire season.
AIG’s WPU, in partnership with Montecito wildfire specialists, spent the day spraying a bio-degradable fire retardant and performing other mitigation actions in the Montecito area using special-purpose built AIG WPU trucks.
The work in Montecito recognizes the vulnerability of California to wildfires. In 2014, 7,865 fires destroyed 555,044 acres and caused millions in property damage statewide, according to the National Interagency Fire Center. And the 2015 wildfire season has been very active.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally.
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