Peabody Energy (BTU US) $US24.38

Peabody (BTU US) is the largest coal producer in the US; its shares have trod a similar path to NHC & WHC with a touch less volatility. Earlier in the month, the company reported a 4Q net income of $US192mn, dropping down to a profit of $1.33 per share. As the chart illustrates, its earnings showed no great surprise, with the share price likely to follow the underlying coal price but with less volatility than most ASX names.

• We own BTU in the International Equities Portfolio, but at this stage, BTU is range-bound, and our ~4% weighting is about right.