Thailand Stocks: Charoen Pokphand, GFPT, Siam Cement, True
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index rose 4.40, or 0.4 percent, to 1,101.35.
Poultry producers: Charoen Pokphand Foods Pcl (CPF) , Thailand’s biggest meat producer, gained 2.5 percent to 30.75 baht. GFPT Pcl (GFPT), the second-biggest listed poultry producer, jumped 9.6 percent to 10.8 baht, its biggest gain since May 18.
Domestic prices of chicken meat rose to 55 baht ($1.84) per kilogram yesterday, a 5.7 percent increase from a week earlier, Asia Plus Securities Pcl wrote in a note today.
Siam Cement Pcl (SCC) , the nation’s third-largest publicly traded company, climbed 1.1 percent to 384 baht, the highest close since at least 1990 when Bloomberg began collecting the data. Net income in the first quarter increased 34 percent to 9.21 billion baht ($308 million) after revenue from its chemicals business surged. That was higher than the 7.38 billion-baht median estimate of eight analysts surveyed by Bloomberg News.
True Corp. (TRUE TB), which operates the nation’s third- largest mobile-phone network, rose 1 percent to 5.05 baht, the first advance in four days. True said a legal challenge to an agreement with state-owned CAT Telecom won’t affect the company’s plans to raise funds and expand its network. The agreement, signed in January between CAT Telecom and True Corp. to provide high-speed mobile-phone services in Thailand, was legal, Chief Executive Officer Supachai Chearavanont told reporters today in Bangkok.
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