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Article: United Kingdom: Rio Tinto rises on vague bid talk, Randgold lifted by Congo deal.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Miners are helping leading shares recover some poise after last week's losses, but banks are proving a drag on the market.
Rio Tinto has risen 67p to [pounds sterling]27.60 as traders heard vague talk that BHP Billiton, up 11.5p to [pounds sterling]16.55, might be considering renewing its interest. Rio was also helped by a buy note from Citigroup in the wake of an investor day last Friday. Citi said:
Commodities have made strong gains year to date. Future volatility is likely but the investment case for Rio Tinto is favourable. Earnings momentum, preferred commodity mix exposure and project growth optionality drive our Rio buy ...