Second quarter earnings season starts with the aluminum giant. I wrote about the importance of earnings and Alcoa before the bell in US trading. Look for comments on global growth/demand:
- Says 2013 forecast of 7% global aluminum demand growth reaffirmed
- Revenue $5.96B vs $5.78B expected
- Aluminum prices seen at lowest level now, may rise
- China economy seen at 7.8% annual growth
The kneejerk reaction to earnings was a 2% rise in the share price.