Bloomberg News

Indonesia Stock Movers: International Nickel, Medco Energi

December 28, 2011

Dec. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 10:34 a.m. in Jakarta.

The Jakarta Composite index fell 0.4 percent to 3,775.77, sliding for a second day. The benchmark gauge has risen 2 percent this year.

PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, increased 1.6 percent to 3,150 rupiah. Nickel futures rose as much as 0.5 percent to $18,590 a metric ton in London, rebounding from a two-day slide.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, advanced 1 percent to 2,475 rupiah. Crude-oil futures rose 1.7 percent to $101.34 a barrel in New York yesterday, gaining for a sixth straight day in the longest rally since the period ended Nov. 8, 2010. Oil last traded at $101.53 a barrel.

--Editor: Chan Tien Hin

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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