South Africa's Barloworld Q1 earnings hurt by low equipment demand

South Africa's Barloworld said a decline in mining equipment demand has affected its business negatively, sending its shares down 7 percent. Barloworld, the biggest dealer of Caterpillar mining trucks in Southern Africa, said trade in equipment over the first quarter had declined compared with the previous year due to continued weakness in commodity markets. "Reductions in capital expenditure and production cutbacks have negatively affected equipment demand from mining companies and contract min