Bloomberg News

European Coal for 2014 Rises Most in 11 Days as Oil Increases

January 22, 2013

European coal for 2014 delivery increased the most in 11 days as oil gained after Japan’s central bank said it will expand asset purchases to lift the world’s third-biggest oil consumer out of recession.

Thermal coal for 2014 delivery to Amsterdam, Rotterdam or Antwerp rose as much as 0.7 percent to $99.50 a metric ton as of 12:30 p.m. London time, according to broker data compiled by Bloomberg. That’s the biggest gain since Jan. 11.

Brent for March settlement climbed as much as 77 cents to $112.48 a barrel on the ICE Futures Europe exchange in London.

The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 31.5 from 6.9 in December. That’s the highest since May 2010.

Bloomberg tracks information from ICAP Plc, GFI Group Inc., Marex Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.

To contact the reporter on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


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