Vale stocks trade lower as slower sales offset improved iron pricing

The world’s most prolific producer of iron-ore, Vale, on Thursday reported first-quarter earnings that disappointed investors, sending its NYSE-listed stock falling as much as 5.4% in early trading. The Rio de Janeiro, Brazil-based diversified miner reported net income totalling $2.49-billion for the three months ended March, significantly higher when compared with earnings of $514-million in the corresponding period a year earlier.