Peabody Energy Leads Coal Stocks Lower On Moody's Grim Outlook

By Sue ChangMarketWatch Pulse

Peabody Energy Corp. led coal stocks lower Thursday after Moody's Investors Service issued a weak forecast for the coal industry. "The outlook for the North American coal industry remains negative amid ongoing challenges for both metallurgical and thermal coal, including declining coal consumption and low met coal prices," said Moody's in a report. Peabody shares slumped 8.8% to $18.88 while Arch Coal Inc. retreated 7.3% to $3.06 and Consol Energy Inc. dropped 5.8% to $9.25.

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