Ukraine wipes European gains

By Dow Jones newswires

In a statement Friday, the miner said that it favors spinning off a range of assets to focus more on commodities such as iron ore, a move that could create a separately listed company valued at more than $US8 billion. "On our estimates, spinning off non-core assets would drive up core volume growth to around 45 per cent and returns by 5 per cent-8 per cent, while enabling the divested entity to pursue value through cyclical leverage and greater alignment of shareholder and management goals in a smaller vehicle," Citigroup analysts wrote in a note, reiterating their recommendation to buy shares in the company.

Read more here: Business Spectator


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