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BUZZ-ArcelorMittal jumps on earnings beat, 'better-than-feared' Q4 outlook

By Reuters News

** Shares in ArcelorMittal rise about 6% as the world's second-largest steelmaker beat Q3 profit expectations and said it expected Q4 flat shipments to grow by double-digit YoY

** ArcelorMittal posts Q3 core earnings of $2.02 billion, beating analysts' average forecast of $1.96 billion in an LSEG poll

** Analysts at Jefferies expect sequentially higher core earnings in the current quarter due to the "better-than-feared commentary" into Q4

** The company's commentary on European steel pricing gradually adjusting to align with the industry's higher cost base is a positive read to the European steel industry, J.P.Morgan says

** Including the session, shares in the company have gained 48% YTD

** Peers Salzgitter SZGG.DE and Thyssenkrupp TKAG.DE rise 4.3% and 3%, respectively

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