Ternium Plunges on Lower Earnings Outlook: Buenos Aires M
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Ternium SA, Latin America’s second-largest steelmaker, declined after fourth-quarter profit missed analysts’ estimates and it forecast lower operating income for this quarter.
Ternium’s American depositary receipts fell 1 percent to $22.27 in New York at the close. The Luxembourg-based company declined as much as 11 percent, the most intraday since Nov. 28, when the company bought a stake in Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA.