Bloomberg News

Indonesian Stock Movers: London Sumatra, Telekomunikasi, Vale

May 30, 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 slid 1.15 points, or less than 0.1 percent, to 3,917.92. The gauge has fallen 6.3 percent this month, poised for the first monthly drop since November.

Nickel producers: PT Vale Indonesia (INCO) , the nation’s biggest nickel producer, lost 3.1 percent to 2,375 rupiah and PT Aneka Tambang (ANTM) , the second largest, slid 2.3 percent to 1,300 rupiah, the lowest close since April 28, 2009. Nickel for three-month delivery declined 2.7 percent to $16,550 a metric ton in London yesterday, the steepest drop since April 16.

Rubber producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) dropped 2 percent to 2,425 rupiah and PT Bakrie Sumatera Plantations (UNSP) lost 2 percent to 245 rupiah. Rubber for November delivery declined as much as 2.2 percent to 265.8 yen a kilogram ($3,350 a metric ton), before settling at 271.7 yen on the Tokyo Commodity Exchange.

PT Surya Esa Perkasa (ESSA) , a producer of liquefied petroleum gas, rose 6.3 percent to 1,850 rupiah, the steepest increase since April 19. Surya Esa may obtain a 4.9 trillion rupiah ($516 million) syndicated loan from seven overseas banks, Bisnis Indonesia reported, citing Corporate Secretary Kanishk Laroya. The loan will be used to build an ammonia plant with an annual capacity of 700,000 tons, the report said. Laroya couldn’t be reached when called at his office in Jakarta.

PT Telekomunikasi Indonesia (TLKM) , the nation’s largest telephone company, advanced 4 percent to 7,900 rupiah after Barclays Capital rated the stock new overweight with a share- price estimate of 9,000 rupiah.

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


Burger King's Young Buns
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