Bloomberg News

New World Resources Extends 2012 Rebound as Commodities Advance

February 15, 2012

Feb. 15 (Bloomberg) -- New World Resources Plc, the biggest Czech producer of coking coal, increased as China pledged to invest in Europe’s bailout funds, boosting investor demand for stocks and commodities.

The stock climbed as much as 2.9 percent before paring the advance to 1.9 percent at 154 koruna by 11 a.m. in Prague. NWR has rallied 13 percent so far this year, rebounding from a 50 percent slump in 2011.

Europe’s benchmark coal derivatives snapped a five-day decline, rising 0.3 percent to $113.25 a metric ton in the Netherlands.

--Editors: Linda Shen, Peter Branton

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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