Bloomberg News

Indonesia Stock Movers: London Sumatra, Petrosea, Vale Indonesia

February 05, 2012

Feb. 6 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices as of 10:19 a.m. in Jakarta.

The Jakarta Composite index rose 0.2 percent to 4,023.53.

Metal producers: PT Vale Indonesia (INCO IJ), the nation’s biggest nickel producer, increased 1.3 percent to 4,025 rupiah while PT Aneka Tambang (ANTM IJ), the second-largest, rose 1.1 percent to 1,930 rupiah. PT Timah (TINS IJ), Indonesia’s biggest tin mining company, rose 1.1 percent to 1,920 rupiah. Nickel futures gained 2.1 percent to $21,305 a metric ton in London on Feb. 3, while tin futures added 1 percent to $24,400 a ton.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s largest plantation stock by market value, gained 1.9 percent to 21,900 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the second-biggest, rose 2 percent to 2,500 rupiah. Palm oil futures climbed as much as 1 percent to 3,085 ringgit ($1,024) a metric ton in Kuala Lumpur, set for the first increase in four days.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, gained 2.2 rupiah to 2,325 rupiah. Crude futures in New York rose for the first time in six days on Feb. 3, gaining 1.5 percent to $97.84 a barrel. Oil last traded at $97.25 in New York.

PT Petroseo (PTRO IJ), a service provider to the oil and gas and mining industries, sank 19 percent to 36,500 rupiah, set for the steepest drop since Sept. 30, 2002. The stock fell after Bisnis Indonesia reported parent company PT Indika Energy sold 28.99 million Petrosea shares at 36,000 rupiah each, 20 percent less than the closing price on Feb. 3. A call to Indika’s office in Jakarta wasn’t answered.

--Editor: Matthew Oakley

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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