Bloomberg News

Indonesia Stock Movers: AKR Corporindo, Gas Negara, Medco Energi

October 26, 2011

Oct. 26 (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 0.8 percent to 3,738.61, gaining for a third day.

Oil producers: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, increased 2.3 percent to 2,225 rupiah. PT Energi Mega Persada (ENRG IJ), the second- largest, gained 2.4 percent to 169 rupiah. Crude futures advanced 2.1 percent to $93.17 a barrel in New York yesterday, the highest settlement since Aug. 2. Oil was last at $93.59 a barrel in after-hours trading.

PT AKR Corporindo (AKRA IJ), a chemical and fuel distributor, advanced 3.5 percent to 3,000 rupiah, the highest close since Aug. 2, after reporting net income in the nine months to September jumped to 2.14 trillion rupiah ($241 million), from 225.3 billion rupiah a year earlier.

PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s biggest gas distributor, rose 5.5 percent to 2,900 rupiah. The company will raise the selling price for gas it supplies to customers in East Java by about 36 percent at the end of this year, Corporate Secretary Sri Budi Mayaningsih said.

--Editor: Matthew Oakley

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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