Vale Gains as Cuts End Two Years of Profit Disappointment
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Vale SA rose the most among major iron-ore producers after profit beat analysts’ estimates for the first time in two years on cost reductions and higher copper sales that offset lower prices for the steel ingredient.
Shares in the world’s third-largest mining company rose for a fifth straight day, gaining 1.8 percent to 32.69 reais at 4:37 p.m. in Sao Paulo, heading towards its highest close since April