Peabody soars as Russia sanctions fuel coal supply angst

Warrior Met Coal

04/03/2022 19:10

** Peabody Energy Corp's  BTU.N  shares up 16.2% at $26.70,
tracking surging coal prices, on continued supply worries after
Russia's invasion of Ukraine
    ** BTU heading for nearly 70% advance for the week. Stock
has risen 6 straight sessions and is at highest levels since May
2019
    ** Newcastle coal futures  NCFMc1  jumped to a record
$440/tonne on Thurs and were on course for weekly gain of 67%
 urn:newsml:reuters.com:*:nL2N2V70LZ  urn:newsml:reuters.com:*:nL5N2V757K
    ** Other U.S. coal firms also posting strong WTD gains: Arch
Resources  ARCH.N  ~28%, Warrior Met Coal  HCC.N  ~21%
    ** Hallador Energy Co  HNRG.O  up 21% so far this week,
while Ramaco Resources  METC.O  up 29% and CONSOL Energy Inc
 CEIX.N  up nearly 20% over same time frame
    ** BTU last week raised $275 mln after pricing 6-yr
convertible bond deal  urn:newsml:reuters.com:*:nL1N2V0105  urn:newsml:reuters.com:*:nPncdDFWra

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))