Antofagasta has jumped to the top of the FTSE 100 risers after cashing in on its Chilean water business.
It is selling Aguas de Antofagasta - which supplies water and treatment services to 162,000 customers in Chile - for $965m to Colombia’s Empresas Publicas de Medelin. Chief executive Diego Hernandez said:
This will allow us to focus our efforts and investments on new mining projects, especially in the Antofagasta region.
The news has lifted the company’s share price by 28.5p or nearlyi 4% to 778p.
Overall the FTSE 100 is up 19.10 points to 7047.34, despite a surprise fall in UK retail sales and disappointing eurozone PMI figures.
Apart from Antofagasta, other miners are also providing some support, with weak Chinese PMI data suggesting the country may endorse further stimulus measures to boost its flagging economy.
Anglo American has added 35.5p to 1049.5p, Rio Tinto has risen 83.5p to £29.47 and BHP Billiton is 40p better at £15.23.
