BUZZ-Anglo American: Bottom of the FTSE after trimming guidance

Wed Jul 20, 2016 3:20am EDT
 
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** Global miner Anglo American down 3.75 pct, lead FTSE 100 losers list, as after cutting FY iron ore and copper production guidance

** Anglo American lowers FY guidance on Brazilian iron ore to 15-17 mln tonnes from 15-18 mln tonnes, while reporting in line production for copper in Q2

** Lowers FY copper production guidance to 570,000-600,000 tonnes from 600,000-630,000 tonnes for 2016

** Liberum analysts call H1 2016 production "fairly weak"

** BHP Billiton misses iron ore target for FY 2016 due to the Samarco disaster in Brazil, stock down 2 pct

** Other base metal miners Glencore, Rio Tinto , Antofagasta down 1.4-2 pct; Stoxx 600 Basic Resources index down 1.5 pct, worst sector in Europe (RM:sanjeeban.sarkar.thomsonreuters.com@reuters.net)