Bloomberg News

Indonesia Stocks: Astra Agro, Benakat Petroleum, Bumi Resources

November 30, 2011

Nov. 30 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of 9:51 a.m. in Jakarta.

The Jakarta Composite index rose 0.7 percent to 3,713.04, set to rise for a third day. The measure was poised for a 2 percent drop this month.

Energy companies: PT Energi Mega Persada (ENRG IJ), the second-largest listed oil company, advanced 2 percent to 151 rupiah. PT Benakat Petroleum Energy (BIPI IJ) added 1.2 percent to 171 rupiah. Crude oil futures gained 1.6 percent to $99.79 a barrel in New York yesterday, the highest settlement since Nov. 16. Oil was last traded at $99.50 a barrel.

PT Astra Agro Lestari (AALI IJ), Indonesia’s biggest plantation stock by market value, advanced 1.6 percent to 22,150 rupiah, set for the highest close since Nov. 18. Palm oil futures increased as much as 0.9 percent to 3,088 ringgit ($975) a metric ton in Kuala Lumpur, set to gain for the first time in seven days.

PT Bumi Resources (BUMI IJ), Indonesia’s largest coal producer, rose 1.3 percent to 2,025 rupiah. Bumi Plc, a shareholder at the company, expects no slowdown in coal demand next year because of surging consumption in India, Bumi Plc Chief Financial Officer Andrew Beckham said in Hong Kong today. India and China will be the dominant markets for coal exports from Indonesia, he said.

--Editor: Shiyin Chen

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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