Bloomberg News

New World Resources Falls for Second Day as Coal Declines

September 30, 2011

Sept. 30 (Bloomberg) -- New World Resources Plc fell for a second day in Prague and headed for a two-year low in London trading as Europe’s benchmark coal futures contracts declined.

The Czech Republic’s biggest coking-coal producer slid 1.9 percent to 132.5 koruna by 12:06 p.m. in Prague, paring this week’s gains to 4.3 percent. The stock has lost 21 percent this month and 46 percent since the end of June. In London, NWR fell 3.2 percent to 453 pence today.

Coal for next-year delivery dropped 1.1 percent to $122.75 a metric ton in the Netherlands, heading for a fifth week of declines. European stocks and U.S. index futures retreated as reports showing contractions in Chinese manufacturing and German retail sales signaled global growth is slowing.

--Editors: Chris Peterson, Alan Purkiss

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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