Bloomberg News

Indonesia Stocks: Astra Agro Lestari, Eterindo, Medco Energi

March 12, 2012

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite Index (JCI) fell 0.1 percent to 3,987.35, declining for the first time in three days.

PT Astra Agro Lestari (AALI) , Indonesia’s biggest plantation stock by market value, dropped 1.8 percent to 22,200 rupiah. Palm oil futures fell for the first time in four days, losing as much as 0.9 percent to 3,321 ringgit ($1,096) a metric ton in Kuala Lumpur.

PT Eterindo Wahanatama (ETWA) , a producer of renewable fuels, jumped 13 percent to 495 rupiah, the steepest increase since Sept. 27, after PT Kim Eng Securities initiated coverage on the stock with a buy rating and a 12-month share-price estimate of 980 rupiah.

PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, slid 1.1 percent to 2,250 rupiah, the lowest close since Feb. 24. Crude oil for April delivery fell for the first time in four days, dropping as much as 0.8 percent to $106.53 a barrel in New York.

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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