Bloomberg News

New World Resources Snaps Five-Day Decline as Coal Price Rises

June 27, 2012

New World Resources Plc (NWR), the biggest Czech producer of coking coal, snapped five days of losses as speculation China will add to economic stimulus boosted demand for riskier assets and the price of coal rose.

The stock jumped 1.5 percent to 100 koruna by 10:33 a.m. in Prague, after a 5.3 percent drop in the previous five sessions. Europe’s benchmark coal derivatives rose 0.4 percent to $98.85 a metric ton in the Netherlands, a second day of gains.

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus