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BUZZ-BHP Billiton: HSBC, Barclays cut ratings on co

Reuters - UK Focus

** Mining giant BHP Billiton (NYSE: BBL - news) 's shares down 3.3 pct, second-largest FTSE 100 loser, after HSBC and Barclays (Swiss: BARC.SW - news) analysts cut ratings on co

** HSBC cuts BHP to "reduce" from "hold"; Barclays (LSE: BARC.L - news) cuts to "underweight" from "equal weight"

** Both brokerages now expect dividend to halve, and highlight that co would still struggle to cover dividend given spot prices

** Barclays analysts say BHP cannot "sustainably cut its capex and cost levels to accommodate significantly lower levels of cash from operations"

** Base metals miners falling on the day - Antofagasta (LSE: ANTO.L - news) , Glencore (Xetra: A1JAGV - news) , Rio Tinto (LSE: RIO.L - news) , Boliden (Amsterdam: 1336949.AS - news) down 2.7-3 pct

** Gold (Other OTC: GDCWF - news) miner Randgold up 0.4 pct, outperforming 1.8 pct fall in Stoxx 600 Basic Resources Index sector as gold prices continue to find support (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)