Bloomberg News

Thailand Stocks: Airports, Bangchak, Charoen Pokphand, Unique

July 04, 2012

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok. The SET Index (SET) dropped 0.3 percent to 1,194.15, snapping a six-day rally.

Airports of Thailand Pcl (AOT TB), Thailand’s largest airport operator, gained 4.6 percent to 62.25 baht, the most since March 16. The company’s share-price estimate was raised 56 percent to 96.70 baht by Jaroonpan Wattanawong, an analyst at Maybank Kim Eng Securities (Thailand) Pcl, to reflect a higher passenger growth forecast.

Bangchak Petroleum Pcl (BCP) , a state-controlled oil refiner, dropped 2.6 percent to 22.80 baht, the largest decrease since May 30. The company will shut its 120,000 barrel-a-day oil refinery in Bangkok for one week after a fire in a crude distillation unit today, Nintira Abhisinha, vice president for finance, said in a telephone interview.

Charoen Pokphand Foods Pcl (CPF) , the nation’s biggest producer of meat and animal feeds, slid 6.6 percent to 35.50 baht, the most since Jan. 24, 2011. Earnings in the second quarter probably dropped as much as 25 percent from a year earlier, Prasit Sujiravorakul, an analyst at Bualuang Securities Pcl, said in a note today.

Unique Engineering & Construction Pcl (UNIQ) , a construction company, climbed 3.4 percent to 1.85 baht, the lowest close since May 10. Thailand’s cabinet yesterday approved a revised budget of 29.8 billion baht ($947 million) for the construction of a rail station and maintenance center in Bangkok’s outskirts, according to Transport Minister Charupong Ruangsuwan. Unique and its partners won the project in a bidding.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

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


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