Indonesia Stocks: Adaro Energy, Pembangunan Perumahan, Timah

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 9:57 a.m. Jakarta time.

The Jakarta Composite index dropped 2.2 points, or less than 0.1 percent, to 3,493.97.

Coal producers: PT Adaro Energy (ADRO IJ), Indonesia’s second-largest producer of the fuel, rose 1 percent to 2,475 rupiah and PT Tambang Batubara Bukit Asam (PTBA IJ), a state- owned coal mining company, climbed 1.7 percent to 20,650 rupiah.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 3.6 percent to $127.43 a metric ton in the week ended Feb. 4.

PT Pembangunan Perumahan (PTPP IJ), a state construction company, gained 1.6 percent to 610 rupiah. Pembangunan has received four contracts valued at 1.29 trillion rupiah ($144 million) to build roads, a hotel and power plant, Investor Daily Indonesia reported, citing Musyanif, president director at the company. Musyanif couldn’t be reached when called at his office.

PT Timah (TINS IJ), Indonesia’s largest tin producer, climbed 2.6 percent to 2,950 rupiah. Tin for three-month delivery gained 2.1 percent to a record $31,200 a metric ton in London on Feb. 4.

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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