Disposal hopes failed to support Rio Tinto as the miner led the London markets lower.

Rio was down 5.7 per cent to £23.37 in spite of speculation it was close to selling part of its Alcan packaging business. Amcor, the Australian company, was said to be lining up funding for a $2bn deal. Rio acknowledged in February it was talking to Amcor as part of a disposal programme aimed at repaying $10bn of debt by October.