Bloomberg News

Indonesian Stocks: Aneka Tambang, Garuda Indonesia, Tiga Pilar

April 16, 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 0.3 percent to 4,146.58, the first drop in three days.

PT Aneka Tambang (ANTM) , Indonesia’s second-largest nickel producer, retreated 2.3 percent to 1,710 rupiah, the lowest close since Jan. 17. Nickel futures declined 2.1 percent to $18,310 a metric ton in London on April 13, the most since April 4. The metal was last trading at $18,061 a ton.

PT Energi Mega Persada (ENRG) , Indonesia’s second- biggest listed oil company, gained 6.3 percent to 185 rupiah, the most since Dec. 21. PT Ciptadana Sekuritas initiated coverage on the stock with a buy recommendation on April 13, saying the company is in a “sweet spot to boost its energy production.”

PT Garuda Indonesia (GIAA) , the national flag carrier, advanced 3.2 percent to 650 rupiah, a record close. The airline signed a memorandum of understanding with Auckland airport to open flights to the New Zealand city, Garuda President Director Emirsyah Satar said.

PT Tiga Pilar Sejahtera Food (AISA) , an instant-noodle maker, jumped 14 percent to 580 rupiah, the most since Oct. 6. The company said net income in 2011 rose 67 percent from a year earlier to 126.9 billion rupiah ($13.8 million).

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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