Oct. 24 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.
The Jakarta Composite index rose 2.4 percent to 3,706.78, gaining for the first time in three days.
Cement producers: PT Semen Gresik (SMGR IJ), the nation’s biggest maker of the building material, jumped 6.9 percent to 9,350 rupiah, the highest close since Sept. 5. PT Indocement Tunggal Prakarsa (INTP IJ), the second largest, gained 4.9 percent to 14,950 rupiah.
Indonesia’s cement consumption jumped 50 percent in September from a year earlier to 3.84 million tons, PT Kim Eng Securities wrote in a note today. Semen Gresik President Director Dwi Soetjipto couldn’t be reached when called at his office to comment on the report.
PT Bank CIMB Niaga (BNGA IJ), a unit of Malaysia’s CIMB Group Holdings Bhd., surged 8.5 percent to 1,280 rupiah, the steepest rally since Sept. 27, after reporting today a 54 percent jump in nine-month net income.
PT Bank Mandiri (BMRI IJ), Indonesia’s largest bank by assets, rose 7 percent to 6,900 rupiah, the highest close since Sept. 12. There’s expectation of an “earnings surprise” after Mandiri reported higher-than-estimated loan growth for the nine- month period, Joseph Pangaribuan, an analyst at PT Samuel Sekuritas Indonesia, said.
PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, advanced 3.2 percent to 3,250 rupiah. Nickel futures gained 4.4 percent to $18,800 a metric ton on Oct. 21, and last traded at $19,000 on the London Metal Exchange.
--Editor: Richard Frost
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