Indonesia’s Jakarta Composite index advanced 43.24 points, or 1.2 percent, to 3,702.01 at the 4 p.m. local-time close, the first increase in three days.
Metal producers: PT Aneka Tambang (ANTM IJ), Indonesia’s second-biggest nickel producer, rose 2 percent to 2,550 rupiah and PT Timah (TINS IJ), the nation’s biggest tin mining company, gained 2.8 percent to 2,800 rupiah. Nickel futures jumped 4.2 percent to $22,500 a metric ton in London yesterday, the biggest increase since June 28. Tin futures rose 1.7 percent to $24,300 a ton in London.
Palm oil companies: PT Astra Agro Lestari (AALI IJ), the nation’s largest listed plantation company by market value, gained 1.2 percent to 24,600 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ) rose 4 percent to 395 rupiah, the most since Nov. 10. Palm oil futures advanced 3.2 percent to 3,270 ringgit ($1,043) a metric ton.
PT Energi Mega Persada (ENRG IJ), an Indonesian oil and gas producer, jumped 21 percent to 139 rupiah, the steepest increase since May 26. The shares rose on expectation the purchase of a 10 percent stake in an offshore gas block from Inpex Corp. will boost earnings, according to Muhamad Sugiarto, an analyst at PT Lautandhana Securindo. Energi Mega’s unit has completed the transfer of the stake in the Masela Block from Inpex, the company said yesterday.
PT Japfa Comfeed Indonesia (JPFA IJ), an animal-feed producer, climbed 2.1 percent to 3,650 rupiah. Japfa got a 1 trillion rupiah ($112 million) loan from PT Bank Central Asia to fund investments and for working capital, Investor Daily Indonesia reported, citing Japfa Corporate Secretary Christine Wibisono. Wibisono and Raymon Yonarto, Bank Central Asia corporate secretary, couldn’t be reached at their offices.
PT Tiga Pilar Sejahtera Food (AISA IJ), the instant dry noodle maker, rose 3.3 percent to 620 rupiah. The company may spend $175 million to plant oil palm trees and buy a plantation company in Sumatra, Chief Financial Officer Sjambiri Lioe said.
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