ArcelorMittal falls as some divisions disappoint, shares do not reflect risks

ArcelorMittal SA

30/04/2026 08:16

** Steelmaker ArcelorMittal MT.AS falls about 3% after the first-quarter results of some of its divisions came in below market expectations

** Though the Luxembourg-based company's core earnings were in line with what J.P. Morgan expected, its European and Mining businesses came below forecast by the brokerage

** Earnings for Europe and Mining were 7% and 19% below the brokerage's estimates

** "We move to an underweight rating ... ArcelorMittal's market value does not adequately discount potential negative impacts arising from higher global energy prices," J.P. Morgan says

 (Reporting by Javi West Larrañaga in Gdansk)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))