STOCKS NEWS EUROPE- Charles Taylor up after trading news

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11:19GMT 14Nov2008- Charles Taylor up after trading news

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Shares in Charles Taylor Consulting (CHAT.L) are up 6.1 percent after a reassuring trading update and news of new 45 million pound bank loan facilities.

Dresdner Kleinwort says today's interim management statement from the management and insurance-related services group confirms that trading remains in-line with expectations.

The broker says, as a consequence, it leaves its earnings estimates unchanged for Charles Taylor but it is mindful that a continuation of the current pound/dollar exchange rate will provide a tail wind for the group in the medium term.

Dresdner Kleinwort says, in its view, the advent of more challenging global economic conditions serves to highlight the resilience of much of Charles Taylor's earnings.

The broker repeats its "buy" rating and 375 pence target on the stock, which it notes also offer an attractive yield. For more double click on [ID:nBNG425413]