ArcelorMittal slides after loss

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ArcelorMittalPlant ARCELOR Arcelor Mittal steel foundry. Photo: Arcelor.

Johannesburg - Shares of ArcelorMittal South Africa tumble by more than 6 percent after the steelmaker reports a first-half loss of 2 cents per share as weak domestic growth and labour disputes weigh.

The company said it expects the challenging market conditions to persist.

Its shares fell 6.58 percent to 35.50 rand, compared to a 0.42 percent decline in Johannesburg's All-share index. - Reuters

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