Deutsche Bank analyst Bastian Synagowitz upgraded ArcelorMittal to Buy from Hold, citing attractive market exposure and a strong balance sheet. Despite a ‘tough’ second half of the year, the analyst sees upside potential with a midterm target price of approximately $31 per share.
ArcelorMittal has completed its acquisition of a 28.4% stake in Vallourec, a leading producer of high-quality tubular products. The acquisition, valued at approximately $1 billion, aligns with ArcelorMittal’s growth strategy and positions them to capitalize on the growing clean energy market.
Gopichand Hinduja, the chairperson of the Hinduja Group, has once again emerged as the wealthiest individual in the United Kingdom, as per the UK Sunday Times Rich List. This marks the sixth consecutive year that the Hinduja family has topped the list. Hinduja’s net worth currently stands at £37.196 billion, an increase of £2.196 billion since 2024. Lakshmi Mittal and family, with a net worth of £14.92 billion, ranked eighth on the list.
