New World Resources Rises for Third Day as Commodities Advance
New World Resources Plc (NWR) gained for a third day after the U.S. Federal Reserve spurred riskier assets by signaling it may extend economic stimulus if needed.
The biggest Czech producer of coking coal rose 1 percent to 126.5 koruna by 11:12 a.m. in Prague, adding to a 3 percent gain in the previous two sessions. NWR outperformed the 14-member PX (PX) equity index, which declined 0.7 percent.
Commodities and emerging-market stocks and currencies rose after Fed Chairman Ben S. Bernanke said yesterday that central bankers “remain prepared to do more” to stimulate growth if conditions worsen for the world’s largest economy.
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
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