Arcelor Mittal (MT) NewsBite - MT Rises As Market Rebounds
Posted: Tuesday, February 09, 2010 9:53 AM EDT
By: Market Intelligence Center Staff
Arcelor Mittal (NYSE: MT) opened at $39.31. So far today, the stock has hit a low of $39.31 and a high of $39.52. MT is now trading at $39.35, up $1.75 (4.65%). Over the last 52 weeks the stock has ranged from a low of $16.28 to a high of $49.41. MT shares are rising with the rest of the market as investors pushed the Dow back over the 10,000 mark a day after the index closed below that level for the first time since November. Rumors that the European Union will help Greece with its growing debt burden. Fears that Greek debt could drag on global economic recovery helped push the market down the past few sessions. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for MT. If you are looking for a hedged play on MT the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 32 range. [ABR-Seven Summits Strategic Investments NewsBite]
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