Leading shares fall back but mining sector provides some supportIn another volatile day, leading shares lost ground again despite support from the mining sector.Anglo American added 45.5p to 1048.5p after it saw a rise in sales of iron ore to India, while Rio Tinto rose 67.5p to £29.02 and Antofagasta was up 23.5p at 766.5p.Synergy reported 2015 results broadly in line with our expectations, though slightly below consensus. The board is not recommending a final dividend (and did not pay an interim) due to the Steris transaction, though a special dividend of 15.8p has been proposed (timing not specified). Following the Federal Trade Commission objection and pending court case, completion is now unlikely before the fourth quarter. We maintain our estimates and hold. Continue reading...
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