Coal equities fall back as earnings trouble US

摘要

GLOBAL COAL EQUITIES saw a mixed performance over the past month, with most of the MCR coal share list, compiled by Credit Suisse, reversing gains seen earlier in the year. In the US, all of the major coal companies fell over the past month with Arch, Peabody and Consol posting disappointing earnings results. Shares of Arch Coal slumped 21% as the company revealed heavy writedowns, lower prices, and rising costs, which pushed the company more than $lbn into the red in the latest year. Arch also signaled another difficult year in 2013, with a planned further dip in sales and capital spending.