New World Resources Set for Lowest in Two Weeks as Coal Slides

New World Resources Plc (NWR) fell, set for its lowest in more than two weeks, as fuel prices slid.

The stock dropped 1.4 percent to 97.6 koruna by 10:38 a.m. in Prague. A close at that level would be its lowest since June 12. Europe’s benchmark coal derivatives slid 0.8 percent to $98 a metric ton in the Netherlands.

NWR named Gareth Penny its new executive chairman, the biggest Czech producer of coking coal said in a statement today. Penny will replace Mike Salamon on Oct. 1, the company said.

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