1033 GMT - ArcelorMittal steel is crucial to Europe's energy transition, Jefferies analysts write. The steelmaker "appears well-placed through its exposure to electrical steel, renewables and electric arc furnaces to benefit from growing electrification demand." Support from the European Union and defensive trade policies will further bolster the stock. "Steel is increasingly being recognized by governments as a strategic material," Jefferies says. Around 13% of ArcelorMittal's revenues are linked to energy transition, the analysts say. Amsterdam shares in the cross-listed stock climb 6.35%, making ArcelorMittal the second highest riser in the Europe-wide Stoxx 600. (josephmichael.stonor@wsj.com)
(END) Dow Jones Newswires
July 10, 2026 06:33 ET (10:33 GMT)
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