Bloomberg News

Indonesian Stock Movers: Mayora Indah, Medco, United Tractors

July 20, 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 (JCI) fell 0.4 percent to 4,081.20, paring this week’s gain to 1.5 percent.

Consumer stocks: PT Unilever Indonesia (UNVR),, a unit of the world’s second-biggest consumer goods producer, declined 3.2 percent to 23,000 rupiah. PT Mayora Indah (MYOR) , a biscuit maker, fell 3.3 percent to 22,050 rupiah.

Consumer stocks fell as rising oil futures sparked concern inflation will accelerate, hurting consumer spending, according to David Sondakh, head of investment at PT Panin Asset Management in Jakarta. Inflation may accelerate to 0.7 percent on month in July, Bank Indonesia Governor Darmin Nasution said today. That compares with 0.62 percent in June.

PT Medco Energi Internasional (MEDC) , the nation’s largest listed oil company, gained 2.8 percent to 1,830 rupiah, the highest close since July 6. Crude oil futures advanced 3.1 percent to $92.66 a barrel in New York yesterday, the highest level in two months.

PT United Tractors (UNTR) , Indonesia’s biggest heavy- equipment seller, fell 3.3 percent to 21,750 rupiah, the biggest decline since June 28. Heavy-equipment sales in June dropped 32 percent from a year earlier to 502 units, the company said.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Allen Wan in Shanghai at awan3@bloomberg.net


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