Thailand’s SET Index (SET) dropped for the first time in three days, declining 6.01, or 0.8 percent, to close at 725.60.
General Engineering Pcl (GEN TB), a maker of concrete products, jumped 19 percent to 0.88 baht, its highest price since Oct. 7, 2008. The company plans to sell a total of 516.8 million new shares at 0.5 baht each in a rights offer. It will also issue warrants to shareholders who subscribe to new shares at a ratio of two new shares for one warrant, it said in a filing to the Stock Exchange of Thailand today.
PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil and gas explorer, dropped 1.9 percent to 159.5 baht, halting a two-day, 9.8 percent gain. Crude oil fell from a one-year high as the dollar pared losses against the euro and the Organization of Petroleum Exporting Countries said it wouldn’t be comfortable with oil at $100.
Thai Airways International Pcl (THAI) , the country’s largest carrier, rose 1.8 percent to 22.2 baht, completing a three-day, 13 percent rally. The airline’s revenue may rise to 186 billion baht in 2010 compared with an expected 157 billion baht this year, President Piyasvasti Amranand told reporters yesterday.
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