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NWR Snaps Two-Day Drop as Japan Boosts Coal Price: Prague Mover

Sept. 19 (Bloomberg) -- New World Resources Plc, the Czech Republic’s biggest producer of coking coal, snapped two days of losses as additional stimulus from the Bank of Japan boosted demand for riskier assets.

The stock climbed as much as 1.5 percent and traded 0.6 percent higher in Prague, after sliding 1.6 percent in the previous two days. Europe’s benchmark coal contracts rose 0.4 percent to $99.50 a metric ton in the Netherlands.

Stocks rallied after Japan’s central bank unexpectedly expanded its asset-buying program, following plans announced by the U.S. Federal Reserve and the European Central Bank to spur growth and contain the debt crisis. U.S. data showed home sales in the world’s largest economy jumped to a two-year high.

“European stock exchanges have followed Asian markets higher after an unexpected monetary-policy loosening by Japan’s central bank,” Josef Nemy, an analyst at Komercni Banka AS in Prague, wrote in an e-mail to clients 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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