US coal miners surge as Europe proposes ban on Russian imports

US coal miners including Peabody Energy and Arch Resources surged as the European Union is proposing banning imports of the fuel from Russia.

Peabody, the biggest US coal producer, jumped as much as 7.1% before the start of regular trading in New York. Arch, the second-biggest miner climbed as much as 6.3%, while Consol Energy gained as much as 8.6% as prices spiked in Europe.