Steel Stocks Rise - Market Update

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Market Update :

Steel Stocks Rise

Author: 123jump.com Staff
123jump.com
Last Update: 5:58 PM EDT April 15 2008

Two industry associations one in Europe and the other in China forecasted higher demand for steel in 2008. The revised estimates lifted steel companies talks higher in the region and talks of price hikes intensified. Automakers and other durable goods makers are bracing for a price hike between 5% and 9%. LVMH reported first quarter sales rise of 5% but at Accor declined on exchange rate losses. Tesco annual earnings rose 12% on 11% rise in sales.

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