New World Resources Plc (NWR), the biggest Czech producer of coking coal, increased for a second day as speculation policy makers will take more steps to stimulate global economic growth boosted demand for riskier assets.
The stock jumped 2.1 percent to 93.2 koruna by 10:48 a.m. in Prague, adding to a 2 percent gain yesterday. The PX (PX) index of 14 equities, in which NWR has a 3.5 percent weighting, advanced 0.8 percent.
Global stocks rose and oil gained as leaders from the Group of Seven countries prepared to discuss the European debt crisis ahead of the G-20 meeting this month. NWR has been rebounding from an 11 percent drop last week to its lowest in almost three years, which sent the stock’s 14-day relative strength index to 22 on June 1. Readings below 30 suggest in technical analysis an asset may rise. The RSI climbed to 29 today.
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