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| ArcelorMittal steel giant 'optimistic' about 2014 | ArcelorMittal steel giant 'optimistic' about 2014 |
| (about 1 hour later) | |
| ArcelorMittal, the world's biggest steelmaker, has forecast higher profits this year, driven by stronger sales in the US and Europe. | ArcelorMittal, the world's biggest steelmaker, has forecast higher profits this year, driven by stronger sales in the US and Europe. |
| Despite forecasting slower sales in China and Brazil, the company's chief executive Lakshmi Mittal said he was "cautiously optimistic" about 2014. | Despite forecasting slower sales in China and Brazil, the company's chief executive Lakshmi Mittal said he was "cautiously optimistic" about 2014. |
| Arcelor makes more than 5% of the world's steel, and is seen as a barometer of manufacturing's health. | Arcelor makes more than 5% of the world's steel, and is seen as a barometer of manufacturing's health. |
| The company also said on Friday that capital spending would rise in 2014. | The company also said on Friday that capital spending would rise in 2014. |
| The construction sector is the single biggest user of steel, and economic surveys suggest that building activity is picking up, especially in the US. | The construction sector is the single biggest user of steel, and economic surveys suggest that building activity is picking up, especially in the US. |
| Mr Mittal said: "The improvement in the overall economic situation led us to re-start some selected steel growth projects." | |
| Shares in Arcelor, which is based in Luxembourg and operates in 60 countries, were up more than 4% in early trading. | Shares in Arcelor, which is based in Luxembourg and operates in 60 countries, were up more than 4% in early trading. |