Indonesia Stocks: Asahimas Flat, Davomas Abadi, Sinar Mas Agro
Stock Chart for Davomas Abadi Tbk PT (DAVO)
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.
The Jakarta Composite index (JCI) rose 49.46 points, or 1.4 percent, to 3,640.98, the first gain in four days. The gauge is on course for a 1.7 percent drop this quarter, the first decline since the three months ended Dec. 31, 2008.
Rubber producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s second-largest listed plantation company by market value, rose 3.3 percent to 2,350 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ) climbed 1.4 percent to 360 rupiah.
Rubber futures advanced for a second day. The September- delivery contract on the Tokyo Commodity Exchange jumped as much as 4.2 percent to 434.6 yen per kilogram ($5,236 per metric ton) before closing at 430.1 yen.
PT Asahimas Flat Glass (AMFG IJ), a producer of flat and fabricated glass, rose 4.7 percent to 5,550 rupiah, the highest close since Jan. 6. The company said 2010 net income surged almost fivefold to 330.9 billion rupiah ($38 million).
PT Davomas Abadi (DAVO IJ), a producer of cocoa products, jumped 11 percent to 89 rupiah, the highest close since July 2. PT Uniflora Prima said it agreed to acquire a 51.86 percent stake in Davomas for 108 rupiah a share, 35 percent more than yesterday’s closing price.
PT Sinar Mas Agro Resources and Technology (SMAR IJ), a palm oil producer, jumped 7.1 percent to 5,250 rupiah, the steepest advance since Jan. 4. Sinar Mas Agro said the company and its affiliates plan to invest 9 trillion rupiah until 2015 to expand their downstream business.
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