BlueScope Steel Loses Bear as U.S. Election Looms -- Market Talk

Dow Jones10-30

2257 GMT - Following BlueScope Steel's profit warning on Tuesday, Morgan Stanley believes most near-term risks are now priced into its stock. So, Morgan Stanley upgrades BlueScope to equal-weight from underweight. It thinks steel demand could improve in the aftermath of the U.S. election. That view is based on business certainty, rather than the policies of the Republican and Democratic parties. "While the downgrade was disappointing, we think 1H likely represents a trough in earnings," analyst Andrew G. Scott says. BlueScope now expects 1H Ebit of A$270 million-A$310 million, representing a cut of some 25% at the midpoint of the range compared with earlier guidance. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 29, 2024 18:57 ET (22:57 GMT)

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So, Morgan Stanley upgrades BlueScope to equal-weight from...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0320765646.SGD","symbol_name":"FTIF - Franklin Income A MDIS SGD-H1","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479646032","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479646032","pubTimestamp":1730242620,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2257 GMT - Following BlueScope Steel's profit warning on Tuesday, Morgan Stanley believes most near-term risks are now priced into its stock. 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