Bloomberg News

NWR Tumbles for Third Day as Commodities Retreat: Prague Mover

June 01, 2012

New World Resources Plc (NWR), the biggest Czech producer of coking coal, had the biggest weekly drop in eight months as worse-than-expected U.S. payrolls data and a manufacturing slowdown in China hurt demand for commodities.

The stock dropped 4.2 percent at 89.5 koruna by the close in Prague, the lowest since July 2009. The stock lost 11 percent this week, the most since the five days ended Sept. 23. Share turnover today was almost triple the three-month daily average.

Commodities tumbled as May U.S. payrolls rose by 69,000, missing the lowest forecast in a Bloomberg survey, and China’s purchasing managers’ index declined. Europe’s benchmark coal derivatives dropped to $98.75 a metric ton, the lowest since September 2010, in the Netherlands.

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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