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BUZZ-Iron ore miners fall after Citi cuts ratings

Reuters - UK Focus

(Updates with London-listed stocks)

** UK mining stocks on the backfoot after Citi downgrades sector, cuts price targets and sees iron ore prices falling to $40/t in 2016

** Citigroup (NYSE: C - news) downgrades stocks of Rio Tinto (Xetra: 855018 - news) and BHP Billiton, and cuts price target for Fortescue Metals

** BHP Billiton (NYSE: BBL - news) down 2.5 pct and second-worst performer on the FTSE. Citi downgrades stock to "neutral" and removes it from its focus list

** Rio Tinto off 1.1 pct

** Anglo American (LSE: AAL.L - news) , Antofagasta (Other OTC: ANFGF - news) and Glencore (Xetra: A1JAGV - news) down 1 - 2 pct and among top losers on the FTSE 100

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** FTSE 350 mining index down 2.3 percent in early trading

** Earlier in the day Australian iron ore miner Fortescue Metals Group hit lowest since Jan. 30, 2009

** The ASX 300 Metals & Mining index falls 1.35 pct (Reuters Messaging: arnab.paul.thomsonreuters.com@reuters.net)