Bloomberg News

Indonesian Stock Movers: Bumi Serpong, Krakatau Steel, Medco

March 15, 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 fell 0.4 percent to 4,039.98, the first drop in three days.

PT Bumi Serpong Damai (BSDE) , a property developer, gained 4.1 percent to 1,260 rupiah, a record close. Bumi Serpong’s 2011 net income more than doubled to 840.8 billion rupiah ($91 million), beating the 753.4 billion rupiah mean estimate of 14 analysts in a Bloomberg News survey.

PT Krakatau Steel (KRAS) , Indonesia’s biggest steel producer, fell 1.1 percent to 910 rupiah. The company’s 2011 net income slid to 1.03 trillion rupiah from 1.06 trillion rupiah a year earlier, the company said in a statement published in Bisnis Indonesia.

PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, lost 3.4 percent to 2,150 rupiah. Crude oil futures dropped 1.2 percent to $105.43 a barrel in New York yesterday, the steepest decline since March 6. Oil was last at $105.43 a barrel.

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


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus