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STOCKS NEWS EUROPE-Randgold up on gold, bullish comments

Wed Nov 11, 2009 5:35am EST

Stocks

   

Shares in gold miner Randgold Resources (RRS.L) rise more than 5 percent to an all-time high after gold rallies and Randgold's shares bounce back from a dip following Tuesday's announcement of lower-than-expected quarterly profit.

"Gold is up and Randgold is the only pure player on gold in the FTSE .FTSE," says Tom Gidley-Kitchin, an analyst with Charles Stanley, maintaining its "hold" recommendation.

"It may be investors decided yesterday's fall was a slight over-reaction," he says, adding the company gave "bullish comment in terms of development reserves and resources and long-term objectives."

For more information please click on [ID:nLA551049] [GOL/]

Reuters messaging rm://sharon.lindores.reuters.com@reuters.net


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