NWR Slumps 30% in Two Days After Price Cut at BofA: Prague Mover
This article is for subscribers only.
New World Resources Plc slumped 30 percent in two days to the lowest level on record after Bank of America Merrill Lynch predicted the biggest Czech coking-coal producer’s stock will extend declines.
The shares fell 17 percent today to 20.40 koruna at the close in Prague, with volume at almost four times the three-month daily average. The stock, which has tumbled 79 percent this year, will be excluded from the FTSE 250 Index and FTSE 350 Index as of June 24, the benchmark provider said on June 12.