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http://www.businessweek.com/news/2012-05-31/indonesian-stocks-aneka-tambang-bank-danamon-elnusa-medco

Bloomberg News

Indonesian Equity Movers: Aneka Tambang, Elnusa, Energi Mega

June 01, 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 for a third day, losing 0.9 percent to 3,799.77. The benchmark gauge has fallen 10 percent from its May 3 high, a drop some investors call a correction. The stock index slid 2.6 percent this week, a fourth straight weekly loss.

Energy-related companies: PT Energi Mega Persada (ENRG) , Indonesia’s second-biggest listed oil company, sank 5.5 percent to 138 rupiah. PT Elnusa (ELSA) , an oil services provider, fell 2.1 percent to 191 rupiah. Crude oil for July delivery lost 1.5 percent to $86.53 a barrel in New York yesterday, capping the biggest monthly drop in more than three years. The contract fell as much as 2 percent to $84.78 in after-hours trading.

PT Aneka Tambang (ANTM) , Indonesia’s second-biggest nickel producer, rose 1.7 percent to 1,170 rupiah, rebounding from yesterday’s 12 percent slump. Aneka is seeking $2.6 billion in financing to fund 65 percent of its projects, including the Tayan chemical-grade alumina and East Halmahera ferronickel plants, Investor Daily Indonesia reported, citing President Director Alwin Syah Loebis. Corporate Secretary Tedy Badrujaman couldn’t be reached when called at his office.

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


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