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BUZZ-European miners: Barclays reiterates "positive", hikes PTs

Reuters - UK Focus

** Barclays (LSE: BARC.L - news) analysts reiterate "positive" on European mining sector, and say macro data has generally been positive

** Point to strength in Chinese data in September, with rising steel production, strong electricity consumption growth, and robust auto sales

** Say valuations remain compelling in diversified equities, add upgrade pressure is concentrated in bulk commodities

** Price rises in coking/thermal coal, iron ore, manganese are ahead of consensus, driving mark-to-market upgrades

** Also say there remains a considerable gap between 2017 spot EBITDA vs. consensus (37% for diversifieds)

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** Say would be tempted to add to exposure to gold miners as metal takes a seasonal pause, leading to a pullback, prefer Randgold on yield potential

** Hike targets on Anglo American (LSE: AAL.L - news) , BHP Billiton (NYSE: BBL - news) , Antofagasta (Other OTC: ANFGF - news) , Boliden (LSE: 0MI5.L - news) , Rio Tinto (LSE: RIO.L - news) , Vale

** Stoxx 600 Basic Resources Index up 1.4 pct on the day, best performer in Europe, and at its highest in 14 mths (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)