New World Resources Rises to 3-Week High After JSW Merger Report

New World Resources Plc (NWR), the biggest Czech coking-coal producer, rose to the highest in almost three weeks after the Daily Telegraph reported that Polish rival Jastrzebska Spolka Weglowa SA held talks to merge with NWR.

The stock added as much as 4.2 percent to 163 koruna, the highest since Feb. 9. NWR pared the rally to 2.9 percent at 161 koruna after Jaroslaw Zagorowski, the chief executive officer of JSW, denied the newspaper report.

To contact the reporter on this story: Krystof Chamonikolas in Prague at

To contact the editor responsible for this story: Gavin Serkin at

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