Bloomberg News

Indonesian Stock Movers: Medco Energi, Timah, Vale Indonesia

April 11, 2012

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 1:31 p.m. Jakarta time.

The Jakarta Composite index fell 0.7 percent to 4,121.64, poised to drop for a third day.

Energy companies: PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, declined 1.2 percent to 2,050 rupiah. PT Energi Mega Persada (ENRG) , the second largest, dropped 2.2 percent to 176 rupiah. Crude futures fell to an eight-week low, losing 1.4 percent to $101.02 a barrel in New York yesterday. Oil was last trading at $101.28.

Metal producers: PT Vale Indonesia (INCO) , the nation’s biggest nickel producer, lost 2.3 percent to 3,200 rupiah and PT Timah (TINS) , the nation’s largest tin mining company, declined 1.1 percent to 1,790 rupiah. Nickel futures fell 1.3 percent to $18,175 a metric ton in London yesterday while tin declined 1.8 percent to $22,750 a ton.

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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