ArcelorMittal Shares Rise on Earnings Prospects as Europe Moves to Boost Its Steelmakers

ArcelorMittal MT 1.38%increase; green up pointing triangle stock gained ground after the company said European policy support for the steel industry will boost its business next year and beyond as it targets a stronger bottom line.

Amsterdam-listed shares in Europe’s largest steel producer rose 5.5% to 34.27 euros in early trading. Year to date, the stock is up more than 50%.