Johannesburg - Shares of global mining group Anglo American
[JSE:AGL] fell 1.3% after UBS downgraded its rating to "neutral" from
"buy" and cut its earnings forecasts, citing country risk and
expectations of lower production.
At 09:10 GMT, shares down 1.27% to R255.71.
UBS cut its earnings forecasts between 2012 and 2014 for
Anglo by up to 40% to reflect expectations of falling platinum and copper
Citing "heightened South Africa risk", it noted
concerns stemming from the wave of violent, wildcat strikes that swept South
Africa's mining sector this year.
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