Petropavlovsk Gains After Profit Rises on Higher Gold Prices
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Petropavlovsk Plc, a miner of gold in Russia, was one of only two stocks to advance on the FTSE 350 Mining Index today after reporting a 10-fold increase in profit.
Petropavlovsk climbed 1 pence, or 0.2 percent, to 621 pence at the close in London and was the second-best performer in the 25-company mining index. The shares earlier rose as much as 8.1 percent after the company said 2011 net income jumped to $230.9 million from $19.8 million as gold prices and output increased.