STOCKS NEWS EUROPE-Rank rises on legal tax win

STOCKS NEWS Reuters Results diary

Europe [STXNEWS/EU] Real-time Equity News [E] [GB/EQUITY]

11:40GMT 10Nov2008-Rank rises on legal tax win

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Shares in Rank Group Plc. (RNK.L) rise 3 percent to 65.25 pence as the bingo, casino, and online gaming firm receives 59.1 million pounds from the UK government in returned taxes.

"I would have thought it would have gone up a bit more than it has done today but we're in very difficult markets so I can understand what's happened," says one analyst, who estimates that the legal win is worth six or seven pence per share.

To see Rank's statement please click on [ID:nRnsJ7883H]

Reuters messaging rm://ben.deighton.reuters.com@reuters.net