Reuters reported that Finnish steelmaker Rautaruukki lowered its outlook for the full year profits after second quarter results fell short of market expectations, and blamed Europe's debt crisis for hurting orders.

Rautaruukki said that it expects comparable operating profit in 2012 to be at the same level as in 2011. It previously forecast an improvement.

It reported a second quarter comparable operating profit of EUR 8 million, lower than the average analyst forecast of EUR 33 million in a Reuters' poll.

Source - Reuters

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