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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Brazil's Vale hires advisors as it assesses 'value-unlocking alternatives'

Reuters
Updated

SAO PAULO, Oct 5 (Reuters) - Brazilian miner Vale SA on Wednesday confirmed it has hired advisors to assess "long term value-unlocking alternatives," after Financial Times reported the company was looking to sell a stake in its metals business.

Vale added in a securities filing, however, that no decision has been reached yet on any potential transaction.

Financial Times had reported earlier in the day that Vale was in talks to sell a $2.5 billion minority stake in its metals business, citing people familiar with the matter. (Reporting by Gabriel Araujo; Editing by Steven Grattan)