BUZZ-UK mining cos top FTSE-100 gainers list
** Shares in UK miners such as Anglo, Rio and Glencore up 1-2 pct, amongst the top FTSE 100 risers and ending a choppy week on a high
** Anglo is likely to be the next mining firm to follow Glencore’s example in cutting its dividend to help contain debt levels and preserve cash, analysts and bankers said on Thursday.
** The rout in commodity prices is putting pressure on credit ratings and dividends across the mining sector, prompting reductions in capex, operational costs and jobs.
** Rival Rio Tinto rises after UBS upgrades stock to “buy” as the brokerage believes it offers the most attractive valuation of the UK diversified miners at spot.
** Rise in spot iron ore prices also supports sentiments.
** Miners such as BHP Billiton up 1 pct, Randgold gains 0.8 pct, Fresnillo up 1.4 pct
** Spot iron ore prices post their biggest weekly gain of about 5 pct, highest since July.