Arcelor surprisingly released FY15 results today (was planned next Friday) and announced a €3bn capital increase. FY15 looks in line (i.e. weak) with sales of US$79.3bn, EBITDA of US$5.23bn, operating income of US$-4.1bn and net result of US$-7.9bn. Results include US$4.8bn of impairments (mainly on Mining assets) and US$1.4bn in inventory write-downs on weak steel prices. No need to say these results and the capital increase will weigh on the share price. On top of this, the guidance fo
