Bloomberg News

Indonesia Stock Movers: Energi Mega, International Nickel, Timah

December 15, 2011

Dec. 15 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 9:52 a.m. in Jakarta.

The Jakarta Composite index fell 1.8 percent to 3,682.74, set for the sharpest drop since Nov. 21.

Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, lost 2.1 percent to 2,375 rupiah and PT Energi Mega Persada (ENRG IJ), the second- largest, declined 1.9 percent to 157 rupiah. Crude oil futures tumbled the most since September, dropping 5.2 percent to $94.95 a barrel in New York yesterday. Oil last traded at $95.18.

Metal producers: PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, dropped 3.2 percent to 3,000 rupiah and PT Timah (TINS IJ), the largest tin miner, declined 1.7 percent to 1,690 rupiah. Nickel for three- month delivery sank 4.9 percent to $17,400 a metric ton in London yesterday and tin fell 5.2 percent to $18,525 a ton.

--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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