15 Apr Steel investment in the stock market
Despite the punishment accumulated in recent sessions of the Spanish stock market, the steel sector leads the most promising analysts’ forecasts for this April.
Juan Enrique Cadiñanos, head of research at Admiral Markets, says that the recent recovery in metals prices will help Acerinox to opt for the upward trend in the stock market.
The comeback quotation of ArcelorMittal still shows no signs of exhaustion and, according to Jaume Rey, SpreadCo manager, and it will be a good option to shuffle for the next few days. In just a few months, he stresses, it has accumulated a revalorization of more than 70% after suffering bulky cuts of steel global demand and the announced terms for capital increase.
Tubacex is also one of Cadiñanos’s favorites for the upcoming sessions. The manufacturer of stainless steel tubes has managed to save EUR 2.00 per share of its latest cuts, which could shape the rebound thanks to growth prospects available to the sector.