8 de diciembre de 2015 / 12:51 / en 2 años

Miners weigh on European shares, Anglo American hits record low

* Pan-European FTSEurofirst 300 index down 1.5 percent

* Anglo American hits record low after restructuring plans

* BHP Billiton falls after a civil lawsuit (Adds detail)

By Atul Prakash

LONDON, Dec 8 (Reuters) - European shares fell on Tuesday, with Anglo American slumping to a new record low after suspending its dividend and BHP Billiton slipping after a civil lawsuit seeking billion of dollars in damages.

The STOXX Europe 600 Basic Resources sector fell 6.2 percent to its lowest level since March 2009.

Shares in Anglo American sank nearly 9 percent after the miner announced restructuring steps, including plans to consolidate into three business units from six, sell more assets and suspend dividends for the second half of this year.

BHP Billiton fell 5.7 percent after a deadly dam burst at a Brazilian iron ore mine triggered a civil lawsuit, seeking 20 billion reais ($5.31 billion) in environmental and property damages from mine operator Samarco and its owners, BHP and Vale.

The pan-European FTSEurofirst 300 index was down 1.5 percent at 1,441.54 points by 1242 GMT.

Miners also suffered from a fall in metals prices on lingering concerns about their demand in top consumer China.

China’s trade performance remained weak in November, casting doubt on hopes that its economy would level off in the fourth quarter and spelling more pain for its major trading partners.

“It is increasingly become clear that the world’s second largest economy is still far off from turning the corner despite countless measures like several rate cuts etc,” Markus Huber, senior analyst at Peregrine & Black, said.

Chinese exports fell a worse-than-expected 6.8 percent from a year earlier, their fifth straight month of decline, while imports tumbled 8.7 percent, their 13th drop in a row.

Glencore dropped 10 percent, with Rio Tinto down 6.3 percent.

Oil and gas shares fell 2 percent, with a glut in supply following last week’s OPEC meeting pinning oil prices to 7 year lows.

Shares in Publicis fell 1.5 percent. Traders attributed its decline to a report in the Financial Times that it had lost some U.S accounts with Procter & Gamble, while a price target cut on Publicis’ shares by analysts at Bernstein also weighed on the stock.

However, Bouygues outperformed the weaker markets to rise 2.5 percent on a Bloomberg report that Orange is in talks to buy some assets from Bouygues. Bouygues said it has no plans to withdraw from the telecoms and television sectors. (Editing by Tom Heneghan)

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