Dividend hike lifts Anglo American shares Anglo American's results underlined the tough year endured by global miners in 2012, after a $4bn writedown in Brazil and strikes in South Africa contributed to an annual net loss. Anglo reported that cost pressures at its Minas-Rio iron ore mine in Brazil and highly publicised walkouts in South Africa which hit its platinum production led to a full-year net loss of $1.5bn. Net earnings in the previous year had hit $6.1bn. Sales were down 10 per cent year-on-year, but at $32.8bn beat expectations of $30.3bn, while the company increased the annual dividend 15 per cent to 53 cents. These two silver linings to an otherwise disappointing set of results helped the shares move 1.4 per cent higher to £20.41. Precious metals groups were at the other end of the main index after downgrades from Citigroup. Fresnillo, the Mexican silver miner, fell 3.3 per cent to £16.01 after Citi cut its rating to sell from neutral and its target price to £15.20 from £19.56. Randgold Resources, the African gold miner, fell 3.5 per cent to £55.95 after it was cut to sell from neutral and its target price reduced to £55.40 from £66. On the FTSE 250, Russian gold group Petropavlovsk lost 4.8 per cent to 326p after Citi cut its rating to neutral from buy and its target price to 377p from 501p. The two main indices were flat in late morning trade, with the FTSE 100 up just 1 point at 6,328.35, while the the FTSE 250 inched up 4 points to 13,504.76. Aberdeen Asset Management advanced further following two acquisition announcements in the previous session, which attracted broker support on Friday. Barclays raised its target price to 490p from 470p and kept its rating at overweight, while Canaccord Genuity raised to buy from hold with a 460p price target. The shares climbed 0.8 per cent to 429.6p. Interdealer broker Tullett Prebon was the biggest faller on the FTSE 250 after it was drawn into the Libor rate-rigging scandal having been referred to anonymously in documents published by the Financial Services Authority in connection with rate-rigging settlements with both Royal Bank of Scotland and UBS. Shares were down 7.8 per cent to 277.8p.