Bloomberg News

Thailand Stocks: Precious, Siam Cement, Siam City Cement, Ticon

October 11, 2011

Oct. 11 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are at the close in Bangkok.

The SET Index rose 2.3 percent to 944.80, the highest close since Sept. 27.

Building materials producers: Siam Cement Pcl paced gains among construction-material makers on speculation demand will surge after the nation’s worst floods in more than half a century. Thailand may set aside 80 billion baht ($2.59 billion) to help recovery efforts, Deputy Prime Minister Kittiratt Na- Ranong said today.

Siam Cement (SCC TB), Thailand’s largest producer of the material, climbed 4.4 percent to 287 baht, the highest close since Sept. 22. Siam City Cement Pcl (SCCC TB), the second- biggest producer, jumped 6.1 percent to 227 baht, the most since May 31. Chonburi Concrete Product Pcl (CCP TB), a concrete block producer, advanced 5.4 percent to 2.36 baht.

Shipping companies: Precious Shipping Pcl (PSL TB), the nation’s biggest shipping company by market value, rose 2.8 percent to 14.8 baht, the highest since Sept. 23. Thoresen Thai Agencies Pcl (TTA TB) increased 2 percent to 15.2 baht.

The Baltic Dry Index, a measure of shipping costs for commodities, climbed 1.6 percent to 2,032 yesterday, the highest level since Dec. 15, according to the Baltic Exchange in London.

Ticon Industrial Connection Pcl (TICON TB), a factory developer, slid 5.7 percent to 9.90 baht, the lowest close since July 5, 2010. Some of its factories in Ayutthaya province were damaged by flooding, Ticon said in a statement.

--Editor: Matthew Oakley

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Shiyin Chen at schen37@bloomberg.net


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