Thailand Stocks: Banpu, Bangkok Bank, Lanna, Sri Trang Agro
Shares of the following companies had unusual moves in Thailand’s trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
Thailand’s SET Index rose 15.57, or 1.5 percent, to 1,035.08, the most since Nov. 29.
Coal producers: Thermal coal may climb about 14 percent to $150 a metric ton in coming weeks, Joachim Azria, a New York- based analyst at Credit Suisse Group AG, said in a Jan. 10 report. Coal prices jumped as the worst floods in Australia’s Queensland state in 50 years shut mines and closed transport lines.
Banpu Pcl (BANPU TB), Thailand’s biggest coal producer, gained 1.2 percent to 856 baht, a record close. Lanna Resources Pcl (LANNA TB), the second largest, jumped 7.8 percent to 25 baht, the highest close since January 1995.
Bangkok Bank Pcl (BBL TB), Thailand’s biggest lender, climbed 5.6 percent to 169 baht, the highest close since August 1997. The bank increased its lending and deposit rates today after the central bank raised borrowing costs. The move will widen Bangkok Bank’s interest margin because the rise in the average lending rate exceeds the increase in the average rate for deposits, DBS Vickers Securities (Thailand) Co. wrote in a report today.
Sri Trang Agro-Industry Pcl (STA TB), the country’s biggest publicly traded rubber producer, dropped 4.3 percent to 39.25 baht, the steepest decline since Dec. 21. The company refiled its preliminary prospectus to list on the Singapore stock exchange. Sri Trang plans to sell 280 million shares to the public as part of the listing plan, according to the prospectus sent to the Monetary Authority of Singapore.
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