Sector movers: Rio Tinto, Anglo American lead miners higher

15th Oct 2013 16:13

London-listed mining stocks were trading higher on Tuesday as risk appetite returned to the markets in hopes that US lawmakers can strike a deal over the debt ceiling. Rio Tinto was a high riser, up 4.2% at 3,214.5p, after enjoying a good third quarter of production, having produced and shipped a record level of iron ore thanks to its new infrastructure in Western Australia.The group said it was also on track to reduce 2013 exploration and evaluation spending by more than its targeted $750m, having achieved $729m in lower spending during the nine months to September compared to the same period in 2012.Anglo American even gained 3.1% to 1,570p despite revealing that a pending regulatory application could restrict access one of its subsidiary's Sishen mine in South Africa.Sector peers African barrack Gold, Antofagasta, Vedanta Resources, Centamin and Lonmin were also trading in positive territory today.Meanwhile, heavy falls from Burberry were weighing heavily on the personal goods sector on Tuesday after the surprise exit of long-running Chief Executive Officer Angela Ahrendts.Ahrendts, who is set to join Apple in a newly created position next year, is being replaced by Chief Creative Officer (CCO) Christopher Bailey, widely seen as one of the most influential people in the fashion industry.With Bailey also retaining his current position of CCO, the sole custody of both roles has "led to concerns over the burden placed on one pair of shoulders, especially given his lack of experience for at that level", said Toby Morris, Senior Sales Trader at CMC Markets. The stock was down 5.93% at 1,491p in afternoon trade, its lowest level since July 23rd. Top performing sectors so far todayIndustrial Metals & Mining 1,589.32 +2.79%Technology Hardware & Equipment 1,174.45 +2.36%Mining 16,836.20 +2.19%Automobiles & Parts 8,608.76 +2.11%Oil Equipment, Services & Distribution 23,883.36 +1.69%Bottom performing sectors so far todayPersonal Goods 23,837.23 -5.12%Electronic & Electrical Equipment 3,972.40 -1.33%Aerospace and Defence 5,025.33 -1.07%Fixed Line Telecommunications 4,025.43 -0.41%Tobacco 35,677.12 -0.39%BC