LONDON (ShareCast) - Diversified mining group Anglo American (LSE: AAL.L - news) gained despite saying it will recognise a 4.0bn dollar impairment charge in its 2012 results after completing a detailed cost and schedule review of its Minas-Rio iron ore project in Brazil.
The gain appeared to be part of a wider trend, with sector peers Evraz, Rio tinto (Xetra: 855018 - news) , Antofagasta (Other OTC: ANFGY - news) and BHP Billiton (NYSE: BBL - news) were all making strong gains.
Energy group SSE (LSE: SSE.L - news) was seen rising one day after Credit Suisse (NYSE: CRP - news) kept its 'outperform' recommendation for the shares, saying that value-creation is expected to continue. Ahead of the company's third-quarter trading update on January 31st, the broker said it expects a 6.2% growth in full-year profits, compared with the company-supplied consensus estimate for a 5.5% increase.
Anglo-Dutch oil mammoth Shell (LSE: RDSB.L - news) was also higher following reports that it could be close to buying the liquefied natural gas (LNG) business of Spanish company Repsol.
While shares in Royal Bank of Scotland (LSE: RBS.L - news) were being hammered on Tuesday by concerns about alleged LIBOR manipulation in the US, the stock was being weighed down further by a downgrade by Espirito Santo.
Lloyds was also taken down a peg by the broker in its review of the UK banking sector.
BT Group (LSE: BT-A.L - news) dropped after Bank of America (Other OTC: BACYL - news) cut its target price on the stock from 285p to 265p, downgrading it to neutral from buy.
FTSE 100 (FTSE: ^FTSE - news) - Risers
Anglo American (AAL) 1,928.50p +2.99%
Evraz (EVR) 300.70p +2.38%
Rio Tinto (RIO) 3,577.00p +2.03%
Kazakhmys (LSE: KAZ.L - news) (KAZ) 757.00p +1.61%
SSE (SSE) 1,417.00p +1.58%
Imperial Tobacco Group (IMT) 2,460.00p +1.53%
BHP Billiton (BLT) 2,143.50p +1.52%
Johnson Matthey (LSE: JMAT.L - news) (JMAT) 2,417.00p +1.47%
Xstrata (XTA) 1,192.50p +1.45%
Glencore International (Other OTC: GLCNF - news) (GLEN) 396.15p +1.37%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 344.70p -6.28%
BT Group (BT.A) 245.40p -2.66%
Aggreko (AGK) 1,702.00p -2.58%
Lloyds Banking Group (LSE: LLOY.L - news) (LLOY) 51.83p -2.47%
Barclays (BARC) 300.35p -1.80%
Hargreaves Lansdown (LSE: HL.L - news) (HL.) 690.00p -1.57%
Weir Group (WEIR) 2,005.00p -1.47%
Aberdeen Asset Management (Other OTC: ABDNF - news) (ADN) 415.90p -1.45%
Morrison (Wm) Supermarkets (MRW) 253.90p -1.32%
Kingfisher (KGF) 273.50p -1.23%