NEW YORK, Dec 17 (Reuters) - Shares of U.S. coal mining companies rose on Wednesday after U.S. President-elect Barack Obama named a pro-coal senator as his choice to become interior secretary.
Obama said he will nominate U.S. Sen. Ken Salazar, a Colorado Democrat, as U.S. interior secretary, overseeing national parks as well as federal lands leased for oil and gas drilling.
“The sentiment suggests Salazar is pro-coal, where Obama is seen as anti-coal,” said analyst Jeremy Sussman of Natixis Bleichroeder.
“He is practical and not too ideological, and a bill he sponsored on capture and storage of carbon emissions, was widely supported.”
In morning trading on the New York Stock Exchange, Consol Energy Inc (CNX.N) stock was up 5 percent at $32.86, and Massey Energy Co MEE.N advanced 4 percent at $15.86.
Peabody Energy Corp (BTU.N) rose 1.1 percent at $25.86, and Arch Coal Inc ACI.N gained 2.1 percent higher at $17.24. All of the stocks trade on the New York Stock Exchange
The S&P coal index .GSPCOAL was 3 percent higher. (Editing by Jeffrey Benkoe)