STOCKS NEWS EUROPE-Falling metal prices bash mining shares

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 11:12GMT 10Oct2008-Falling metal prices bash mining shares Mining companies help drag the FTSE 100 index lower with Anglo Swiss miner Xstrata dropping as much as 14.5 percent and Rio Tinto shedding as much as 13.2 percent as analysts downgrade their earnings forecasts due to falling metals prices. 'Placing (Rio Tinto) shares on 10x our discounted 2009 earnings yields a significant reduction in our target price from 6150 pence to 1820 pence,' Evolution Securities analyst Charles Kernot writes in a research note, cutting his recommendation on Rio to 'sell' from 'buy'. RBS also cuts it price target on Xstrata to 2,900 pence from 4,600 pence although it rates the stock 'buy'. 'Base metals prices are following equity markets lower but may recover as Chinese... [read full story]