Reuters reported that shares in the steel sector rise, boosted by Banc of America Merrill Lynch which reinstates its coverage on the sector with a "mid-term preferred" rating, while raising its price target of several key steel makers.
Shares in Xstrata, Kazakhmys, ArcelorMittal and ThyssenKrupp gained between 2.1% and 7.5%.
The broker says in a note to clients. "This week, we reinstated coverage of large cap European steel with a buy on ArcelorMittal and a neutral on ThyssenKrupp.”