Reuters: Hot Stocks: Miners lead UK's FTSE down as Cyprus dents sentiment

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Miners lead UK's FTSE down as Cyprus dents sentiment Mar 19th 2013, 08:09 LONDON, March 19 | Tue Mar 19, 2013 4:09am EDT LONDON, March 19 (Reuters) - Britain's benchmark share index fell for the second consecutive session on Tuesday as worries over a Cyprus bailout deal impacted sentiment, while major mining stocks also fell after a broker downgrade. The blue-chip FTSE 100, which had reached a 5-year high of 6,533.99 points last week, fell by 0.3 percent, or 20.02 points, to 6,437.90 points. Drops in the share prices of miners Rio Tinto and BHP Billiton took the most points off the FTSE 100, which traders attributed to downgrades on both stocks from Goldman Sachs. Goldman cut its rating on Rio to "sell" from "neutral", and downgraded BHP Billiton to "neutral" from "buy". "In line with our forecast of falling iron ore prices, we see minimal free cash flow and significant earnings declines," Goldman wrote in a research note on Rio. (Reporting by Sudip Kar-Gupta)

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