Indonesia Stocks: Davomas Abadi, Energi Mega, Resource Alam
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 break.
The Jakarta Composite index (JCI) advanced 6.32 points, or 0.2 percent, to 3,801.081, closing at a record. The measure rose 1.9 percent this week. The market will be closed tomorrow for a public holiday.
PT Davomas Abadi (DAVO IJ), a maker of cocoa products, fell 2.4 percent to 82 rupiah, extending yesterday’s 4.6 percent drop. PT Uniflora Prima said in a statement to the stock exchange that it has delayed the purchase of a 51.86 percent stake in Davomas, pending a plan to raise funds to settle Davomas’ debt as part of the takeover requirement.
PT Energi Mega Persada (ENRG IJ), Indonesia’s second- largest listed oil company, advanced 1.4 percent to 144 rupiah, the highest close since May. Crude futures gained the most in a month yesterday, adding 2.9 percent to $111.45 a barrel in New York. Oil was at $111.90 in after-hours trading.
PT Resource Alam Indonesia (KKGI IJ), a coal producer, rose 5.3 percent to 4,975 rupiah, a record close. The company said yesterday first-quarter net income nearly quadrupled to 81.9 billion rupiah ($9.5 million) from a year ago as production of the fuel increased.
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