Bloomberg News

Thailand Stocks: Advanced Info, PTT Exploration, Thai Stanley

July 18, 2012

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index (SET) fell 0.3 percent to 1,220.14, the first decline in four days.

Auto parts makers: Thai Stanley Electric Pcl (STANLY) paced gains in automobile-related shares on expectation rising vehicle output will bolster earnings. Thai Stanley, the country’s biggest auto-parts producer by market value, climbed 5.5 percent to 213 baht, the highest close since November 2003. Aapico Hitech Pcl (AH) added 4 percent to 15.70 baht. Thai Rung Union Car Pcl (TRU) added 2 percent to 10.4 baht, the highest close since March 2005.

Thailand’s vehicle sales in the first half jumped 40 percent to 606,523 units, Toyota Motor Thailand Co., the nation’s largest automaker, said in an e-mailed statement.

Advanced Info Service Pcl (ADVANC) , the country’s biggest mobile-phone company, dropped 3.4 percent to 202 baht, the steepest decline since April 5. The company was downgraded to underperform, the equivalent of sell, from neutral by Pisut Ngamvijitvong, an analyst at CIMB Securities (Thailand) Co. Ltd.

PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, lost 2.9 percent to 166 baht, the biggest decline since May 23. Shareholders of Cove Energy Pcl should accept PTT Exploration’s offer for the U.K. explorer, Cove’s board said yesterday. PTT Exploration offered to buy Cove’s shares at 240 pence each.

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


Hollywood Goes YouTube
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