New World Resources Rebounds From 2009 Low to Lead Prague Rally

New World Resources Plc (NWR), the biggest Czech producer of coking coal, rebounded from its lowest in almost three years, leading gains for the country’s stock index.

The stock climbed 2.8 percent to 92 koruna by 11:33 a.m. in Prague, making it the best performer today in the 14-member PX (PX) equity gauge, which rose 0.5 percent from a five-month low.

NWR tumbled 11 percent last week, the most since September 2011, pushing the stock’s 14-day relative strength index to 22 on June 1. Readings lower than 30 suggest in technical analysis an asset may gain. The RSI increased to 27 today.

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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