Vale (RIO) Stronger On China News, Positive Analyst Comments

Shares of Vale (NYSE: RIO) are significantly stronger today, rising 9% on word from China that manufacturing output is expanding for the first time in six months. The stock is also benefiting from positive comments from Goldman Sachs, which said iron ore exports may exceed forecasts in the first quarter.

Goldman reiterated their Buy rating on Vale, saying shares may�gain from a pick-up in iron ore shipments to Europe and a rebound in spot prices in China.

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