New World Declines as Manufacturing in Europe and China Worsens

March 22 (Bloomberg) -- New World Resources Plc, the Czech Republic’s biggest producer of coking coal, declined to near its lowest in three months on concern that a drop in manufacturing from China to Europe will reduce commodity demand.

The stock slid 0.3 percent to 129.7 koruna by 3:40 p.m. in Prague, 0.4 koruna shy of 129.3 koruna at the close two days ago, which was the lowest since Dec. 20. NWR has retreated 4.8 percent so far this week and 18 percent in March.

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