Bullish mood lifts Arcelor Mittal to session high of $26.28

Yesterday at a glance: ArcelorMittal ended Thursday at $25.72. yesterday it went up to $26.28 only to drop back, yet still managed to close at $25.97.

Arcelor Mittal's uptick comes amid disappointing United States macroeconomic data released during the session – United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 193,100.

A look at other materials stocks also showed bullish price action as BHP Billiton gained 2.98%, as it traded at $56.67.

Trending downwards for around a month. The Luxembourgian steel company is now trading 13.43% below its 3-month high of $33.39.