Bloomberg News

Indonesia Stocks Movers: Adaro Energy, Garuda, Indosat, Timah

October 31, 2011

Oct. 31 (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 fell 1.0 percent to 3,790.85, slid for the first day .

Coal producers: PT Bumi Resources (BUMI IJ), Indonesia’s biggest coal producer, dropped 4.1 percent to 2,350 rupiah. PT Adaro Energy (ADRO IJ), second-largest coal mining company, fell 4.7 percent to 2,025 rupiah.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 0.2 percent in the week ended Oct. 28. Coal prices at the New South Wales port declined to $117.89 a metric ton from $118.10 the previous week, according to the globalCOAL NEWC Index.

Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, dropped 2 percent to 3,650 rupiah. PT Aneka Tambang (ANTM IJ), the second- biggest, fell 2.2 percent to 1,790 rupiah.

Nickel for three-month delivery dropped 1 percent to $19,700 a metric ton on the London Metal Exchange on Oct. 28 and last traded at $19,400.

PT Buana Listya Tama (BULL IJ), an Indonesian provider of freight transportation services, advanced 4.6 percent to 114 rupiah after the company reported nine-month net income jumped to 250.64 billion rupiah from a year earlier.

PT Garuda Indonesia (GIAA IJ), Indonesia’s biggest carrier, climbed gained 2.3 percent to 445 rupiah as crude oil futures fell for a second day in New York, reducing fuel-cost pressure on the Indonesian airline.

PT Indosat (ISAT IJ), an Indonesian telephone company, rose 1.9 percent to 5,350 rupiah after the company reported nine- month net income rose to 992 billion rupiah ($112 million), from 530.9 billion rupiah a year earlier.

PT Timah (TINS IJ), Indonesia’s largest tin mining company, dropped 1.7 percent to 1,990 rupiah. Fifteen tin producers in Indonesia, the world’s largest shipper, agreed to extend a self- imposed ban on exports until the end of the year to help boost prices. They will seek to widen support for the halt at a meeting this week.

--Editor: Greg Ahlstrand

To contact the reporter on this story: Femi Adi in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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