Bloomberg News

Indonesia Stock Movers: Aneka Tambang, Elnusa, Medco Energi

December 01, 2011

Dec. 1 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of 10:11 a.m. in Jakarta.

The Jakarta Composite Index rose 2.2 percent to 3,795.34, set to gain for a fourth day.

Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, increased 3.2 percent to 2,400 rupiah. PT Energi Mega Persada (ENRG IJ), the second largest, increased 2.7 percent to 153 rupiah, set for the largest increase since Nov. 14. Crude futures rose to a two-week high, adding 0.6 percent to $100.36 a barrel in New York yesterday. Oil last traded at $100.57 a barrel.

PT Aneka Tambang (ANTM IJ), Indonesia’s second-biggest nickel producer, climbed 1.2 percent to 1,660 rupiah, set for the highest close since Nov. 22. Aneka plans to increase the size of a 1.5 trillion rupiah ($165 million) bond sale as investor demand reached 10 trillion rupiah, Bisnis Indonesia reported, citing an unidentified executive. A call to the company’s office in Jakarta wasn’t answered.

PT Elnusa (ELSA IJ), an Indonesian oil services company, rose 2.4 percent to 210 rupiah, set for the biggest gain since Nov. 10. PT Benakat Petroleum Energy will spend 45 billion rupiah to buy back 214.28 million of Elnusa’s shares at 210 rupiah each, Bisnis Indonesia reported, citing Firlie Ganinduto, a director at Benakat. Ganinduto and Elnusa Corporate Secretary Heru Samodra couldn’t be reached when called at their offices.

--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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