Bloomberg News

Vietnam Stocks: PetroVietnam Drilling, Refrigeration Electrical

April 17, 2012

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 2:15 p.m. close in Ho Chi Minh City.

The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 1 percent to 472.84, the highest close since May 13.

PetroVietnam Drilling and Well Services Joint-Stock Co., (PVD VN), which offers technical services to the oil and natural gas industry, climbed by the daily limit 5 percent to 42,200 dong, the highest since Feb. 27.

Oil traded near the highest close in two days in New York after a bigger-than-projected gain in retail sales boosted speculation that the economy is recovering in the U.S., the world’s biggest crude consumer.

Refrigeration Electrical Engineering Corp. (REE) , the Vietnamese maker of Reetech air-conditioners, gained 4.6 percent to 18,100 dong, the highest close since Dec. 13, 2010. Its first-quarter pretax profit was estimated at 333 billion dong ($16 million), accounting for 46 percent of its full-year target, the company said in a statement on its website, without giving comparative figures. The results have not taken into account earnings from its affiliates, it said.

To contact Bloomberg News staff for this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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