January 7, 2016 / 3:51 PM / 2 years ago

BUZZ-Miners: Deeper slide on China concerns

(Updates)

** Shares of miners down sharply, with yuan’s deeper drop & heightened concerns about metals demand from China exacerbating the sell-off

** Copper and zinc prices both trade close to 7-yr lows

** Pan-European Stoxx 600 basic resources index down over 6 pct, with Anglo American Plc the biggest drag with a 10 pct drop

** Barclays says lack of detail on timing over Anglo American’s strategy to shrink business amid commodity price rout leaves shares vulnerable

** European miners: BHP Billiton Plc down 5.4 pct, Glencore Plc 7 pct, Rio Tinto Plc 3.5 pct, Antofagasta 6 pct

** Among London’s mid-cap names: Vedanta Resources Plc down 7 pct, Evraz Plc 4.9 pct

** U.S.-listed miners: Freeport-McMoRan Inc falls 6 pct to hit 13-yr lows, Cliffs Natural Resources Inc down 10.9 pct, Teck Resources Ltd 5.2 pct

** Toronto-listed miners also fall: First Quantum Minerals Ltd 12 pct, HudBay Minerals Inc 9.7 pct, Lundin Mining Corp 4.8 pct, Taseko Mines Ltd 3 pct

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