U.K. Mining Stocks Fall, Paced by Kazakhmys; ITV Shares Rise
U.K. mining stocks fell, led by Kazakhmys Plc and Anglo American Plc. ITV Plc and Kelda Group Plc paced advancing shares.
The benchmark FTSE 100 Index added 0.5, or less than 0.1 percent, to 6240.40 in London at 8:13 a.m. The FTSE All-Share Index slipped 0.1 to 3225.14. Ireland’s ISEQ Index fell 9.21 to 9313.17.
Kazakhmys, Kazakhstan’s largest copper producer, lost 1.3 percent to 1,036 pence. Output increased 4 percent in the fourth quarter to 111,800 metric tons as the company mined rock containing more copper.
Anglo American, the world’s second-largest mining company, slipped 1 percent. BHP Billiton, the world’s biggest, fell 1.4 percent to 927 pence.
Copper futures in Shanghai declined for the first day in five after international prices slumped on rising stockpiles, which fueled speculation that supply of the industrial metal will exceed demand.
ITV Plc, the U.K.’s biggest commercial broadcaster, rallied 1.2 percent to 108 pence. Kelda Group, owner of Yorkshire Water Services Ltd., added 0.9 percent to 927.5 pence.
Source: www.bloomberg.com
