Bloomberg News

NWR Gains Second Day as U.S., German Data Spur Commodities

February 24, 2012

(Updates with closing share prices in second paragraph.)

Feb. 24 (Bloomberg) -- New World Resources Plc, the largest Czech coking-coal company, gained a second day as signs of economic recovery in the U.S. and Germany drove demand for commodities.

The stock rose as much as 1.6 percent and last traded 0.3 percent higher at 154 koruna at the end of trading in Prague. The shares added 2.3 percent yesterday.

U.S. jobless claims held at the fewest since March 2008, while South Korean consumer confidence increased to the highest level in three months and Germany’s gross domestic product grew 1.5 percent from a year ago for an eighth quarter of expansion.

Coal prices may also rebound from the second quarter, according to He Wei, an analyst at Bocom International Holdings Co. Consumption volumes are forecast to rise 8.3 percent this year amid a recovery in industrial activity, the analyst wrote in a report today.

--Editors: Linda Shen, Tim Farrand

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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