FTSE 100 movers: Anglo American falls on Amplats strike warning
Wed 26 Sep 2012
LONDON (SHARECAST) - Mining giant Anglo American fell after Amplats (Anglo American Platinum) said the low turnout at its Rustenburg mines, where a temporary halt was put on operations amid a wave of labour unrest, has continued to be below 20 per cent since re-opening on September 18th.
The firm, which reiterated that the current industrial action is illegal, has now said disciplinary action will be initiated on September 27th against those employees who persist in unlawful strike action. The company also confirmed that the volume of lost platinum production from its Rustenburg mining operations since September 12th has amounted to around 20,000 ounces.
Information company Experian also fell after it announced its sale of price comparison site PriceGrabber fell through in acrimonious circumstances.
The $175m disposal was announced back in May, but Experian says the purchase deadline has now passed and that it believes the putative buyer, Indian outfit Ybrant Digital, is “in breach of contract”.
FTSE 100 - Risers
Intertek Group (ITRK) 2,738.00p +0.96%
British American Tobacco (BATS) 3,210.00p +0.22%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 256.20p -5.11%
Evraz (EVR) 237.60p -4.96%
Lloyds Banking Group (LLOY) 38.77p -4.55%
RSA Insurance Group (RSA) 113.50p -4.38%
Barclays (BARC) 213.45p -4.37%
Kazakhmys (KAZ) 687.50p -4.05%
Vedanta Resources (VED) 1,005.00p -4.01%
Eurasian Natural Resources Corp. (ENRC) 311.00p -3.60%
Anglo American (AAL) 1,832.50p -3.58%
ARM Holdings (ARM) 565.50p -3.33%
LONDON (SHARECAST) - Mining giant Anglo American fell after Amplats (Anglo American Platinum) said the low turnout at its Rustenburg mines, where a temporary halt was put on operations amid a wave of labour unrest, has continued to be below 20 per cent since re-opening on September 18th.
