Wednesday, July 8, 2009

Alcoa 2Q Report

Thursday American indexes started trades with decline and fall continued throughout the whole session, sales encompassed the whole stock. USA started its corporate report period for 2Q and the first company to issue a report traditionally is Alcoa and this report is expected to be one of major economic events for this Week. Both stock and currency markets are likely to respond positively to this report. Yesterday Alcoa`s stock gained a little bit marking a rare exception. Alcoa Inc., which is expected to report a quarterly loss Wednesday amid a slump in global aluminum demand, is positioning itself for an new economic rebound by investing in markets it thinks are ripest for recovery.
The largest U.S. Aluminum company has done a $750 million expansion of a construction factory in Russian Federation. This will allow it to produce beverage cans for the European market. The company recently bought a small Morocco fasteners business that supplies European aerospace customers.
Klaus Kleinfeld, Alcoa's chief executive, said on Tuesday that he observes recovery signals in some sectors, including the aluminum market. In Russian Capital, where he was traveling with U.S. President Barack Obama, Mr. Kleinfeld said the North American automotive market is on the way of reviving.
Alcoa is the world leader in the production and management aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry. Alcoa`s production is used in aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design and engineering.

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