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Rio and Anglo downgraded as BarCap slashes commodity estimates

Sharecast

LONDON (ShareCast) - Mining giants Rio Tinto (Xetra: 855018 - news) and Anglo American (LSE: AAL.L - news) were under the cosh in London as analysts at Barclays Capital slashed their commodity prices forecasts and lowered their recommendations on both shares. While acknowledging that the average institutional investor has very little interest in commodity price estimates given recent volatility, the investment bank highlighted that it has made downgrades virtually across the board.

"We have made the following changes to this year's price forecasts (in order of magnitude): iron ore -24%, natural gas -16%, nickel -15%, coking coal -8%, thermal coal -7%. All others are