Bloomberg reported that Peabody Energy Corporation led producers lower on concern that economic growth in China is slowing, damping demand for the power plant and steelmaking fuel.

As pre report, Peabody dropped USD 2.57 to USD 39.92 at 12:19 PM in New York Stock Exchange composite trading. Alpha Natural Resources Inc lost USD 1.72 to USD 34.72. Massey Energy Co fell by USD 1.51 to USD 28.69.

The Conference Board's April gauge for China's economic outlook indicated a weaker expansion. The gauge of the economy's outlook rose 0.3%, less than the 1.7% gain it reported June 15th 2010. Coal companies have targeted the country as a source of growth.

Mr James Rollyson analyst at Raymond James & Associates Inc said that "I don't know how much we can keep talking about the same thing as a problem, but it is."

The companies also fell four days after China' National Development and Reform Commission ordered coal producers in the country to keep prices of the fuel stable to stem inflation.

(Sourced from www.bloomberg.net)