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Coal stocks rise after optimistic comments from China

Coal stocks are strong following reports out of China that the country’s new leadership pledged to promote domestic demand and urbanization with wider policy support for economic recovery. China relies heavily on coal for power generation and although the country is a large producer, it also relies on imports. In early afternoon trading, U.S. coal company shares were strong, with Peabody Energy (BTU) up 4% to $25.94, Arch Coal (ACI) up 6.4% to $7.15, Alpha Natural Resources (ANR) up 8.25% to $7.86, CONSOL Energy (CNX) up 5% to 33.