FTSE 100 falls, with BHP hit by news of lawsuit
- 30 November 2015
- From the section Business
(Close): The FTSE 100 ended lower, with BHP Billiton shares among the fallers on news of an expensive lawsuit over the Samarco mine disaster.
Brazil has said it will launch a $5.2bn lawsuit over the collapse of the dam owned by Samarco, which is jointly owned by BHP and Vale.
At least 13 people died and a village was destroyed when a dam burst earlier this month.
Aberdeen Asset Management was the biggest faller on the index, dropping 4.6% after it reported a 12.5% drop in the level of assets under management.
The firm said the level of assets stood at £283.7bn at the end of September. That was down from £324.4bn a year earlier, after investors took money out of emerging market funds.
Pre-tax profits dipped slightly to £353.7m.
"It's tough times. We just need to wait for emerging markets to come back into fashion," said chief executive Martin Gilbert.
Shares in Intercontinental Hotels Group (IHG) rose 2.7% following a report that the hotel group could be a takeover target.
The Telegraph reported that Shanghai Jin Jiang International Hotels Group, HNA Group and China Investment Corp could turn to IHG after being thwarted in their attempt to buy Starwood, which was bought by Marriott.