New World Resources Shares Advance, Paring Quarterly Decline

New World Resources Plc (NWR), the biggest Czech producer of coking coal jumped, paring its quarterly drop, as commodities rallied on optimism that the European Union will contain its debt crisis and economic slowdown.

The stock rose 3.4 percent to 101.3 koruna by 10:07 a.m. in Prague, erasing losses earlier this week. NWR still stood down 24 percent since the end of March and 25 percent down this year.

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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