Teck Resources shares fall on weaker own coal price outlook

Canada's Teck Resources reported weaker-than-expected third-quarter earnings on Thursday and forecast softer prices for its coal in the fourth quarter, sending its shares tumbling more than 5%. Teck, the world's second-biggest exporter of steelmaking coal, said it expects a larger proportion of its coal sales in the fourth quarter to be non-premium coal, reducing its average realised price to about 85% of benchmark prices.