Pallinghurst up, to sell Faberge stake
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Shares of Pallinghurst Resources gain as the mining investment company says it will sell a stake in Faberge to coloured gems miner Gemfields.
Pallinghurst, which will retain a 49.3 percent in the company famous for its Tsarist-era jewelled eggs, is trading 1.4 percent higher at 2.15 rand.
The stock has lost nearly a third of its value this year as the economic crisis chokes off demand for luxury goods such as jewellery. - Reuters