FTSEurofirst 300 up 1.1 pct on the day, up 13 pct on week… Index lost 7 pct in Nov, ninth month of losses in 2008… Cyclicals hammered; defensive pharmas surge

European stocks ended higher on Friday, as buoyant pharmaceutical shares eclipsed a drop in cyclical mining and industrial sectors hit by renewed economic fears, while energy shares tumbled along with oil.

The FTSEurofirst 300 index of top European shares closed 1.1 percent higher at 862.07 points.

Although it gained 13 percent during the week, the index dropped 7 percent in November, recording a ninth month of losses in what has been a torrid 2008 for equities worldwide.

Pharma stocks made strong gains on Friday, with GlaxoSmithKline up 5.1 percent and Sanofi-Aventis up 4.5 percent. Novartis , whose CEO said the company could increase its dividend and also resume share buybacks

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THE PRICE OF SPOT GOLD bounced 1.6% from an overnight low of $860 on Wednesday, steadying at $876 an ounce as Western stock markets ticked higher despite a raft of miserable Eurozone data. Crude oil rose back above $100 per barrel, while long-dated government bonds continued to rise in price, pushing yields still further below the rate of inflation. The Dollar slipped from two-week highs on the currency markets. "European economic woes should sustain the greenback's safe-haven appeal today," believes Manqoba Madinane at Standard Bank in Johannesburg , "despite downside correction warnings from technical momentum indicators, and this could impact precious metals. "Several other warnings of downside risk for precious metals have emerged," he adds, noting that CDX investment grade credit spreads have narrowed, "indicating receding financial market system risk." Tuesday saw inter-bank lending rates leap yet again, however, with the cost of raising ...

Trading on the American Stock Exchange (AMEX), Tanzanian Royalty Exploration Corporation is a financial gold company whose business strategy is to acquire royalty interests in gold production from their core assets. These assets are in the Lake Victoria Greenstone Belt of Tanzania. This Belt is considered prospective for precious metals, base metals, and diamonds. With a market capitalization of $241.60 million, the company has their corporate headquarters in Surrey, British Columbia.

Tanzanian Royalty’s strategy is to develop their licenses under royalty agreements with industry partners. They have royalty agreements with Barrick Gold and Northern Mining Explorations. The company is also the largest individual landholder in the Kabanga Nickel Belt of Tanzania. This Belt is home to the high-grade Kabanga Nickel Project, which is a joint venture between Xstrata and Barrick Gold.

Founded in 1990, the company was formerly Tan Range Exploration Corporation and changed their name to Tanzanian Royalty Exploration

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