Bloomberg News

Indonesia Stocks: Benakat Petroleum, London Sumatra Indonesia

December 29, 2011

Dec. 29 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 10:33 a.m. in Jakarta.

The Jakarta Composite Index fell 0.5 percent to 3,752.14, declining for a third day. The measure has risen 1.4 percent this year.

Energy related companies: PT Benakat Petroleum Energy (BIPI IJ), an oil producer, retreated 2.4 percent to 200 rupiah. PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s biggest gas distributor, lost 2.4 percent to 3,075 rupiah. Crude oil futures declined for the first time in seven days yesterday, dropping 2 percent to $99.36 a barrel in New York. Oil was last at $99.33. A lower oil price reduces the appeal of alternative fuels such as gas.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), a rubber and palm-oil producer, fell 1.1 percent to 2,225 rupiah. Rubber futures fell to the lowest level in more than a week, losing as much as 2.1 percent to 265.9 yen a kilogram ($3,417 a metric 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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