Indonesia Stocks: Astra Agro Lestari, Energi Mega, Gas Negara

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the noon Jakarta-time break.

The Jakarta Composite index (JCI) slid 8.25 points, or 0.2 percent, to 3,790.31, falling for a second day.

Oil companies: PT Energi Mega Persada (ENRG IJ), the nation’s second-biggest listed oil company, gained 3.8 percent to 166 rupiah. PT Benakat Petroleum Energy (BIPI IJ) rose 1.6 percent to 130 rupiah. Crude oil futures advanced 1.7 percent to $98.86 a barrel in after-hours trading in New York, rebounding from the biggest weekly decline since 2008.

PT Astra Agro Lestari (AALI IJ), Indonesia’s largest listed plantation company, climbed 1.3 percent to 23,700 rupiah, the biggest boost to the Jakarta Agricultural Index. Palm oil futures rose as much as 1 percent to 3,228 ringgit ($1,081) a metric ton in Kuala Lumpur, reversing a three-day slide. Astra Agro plants only oil palm trees.

PT Astra Graphia (ASGR IJ), which rents and sells office equipment, rose 4.8 percent to 880 rupiah, set for the highest close since May 2007. PT Kim Eng Securities raised the company’s share-price estimate to 1,540 rupiah from 1,355 rupiah, citing higher-than-forecast net income in the first quarter.

PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s largest gas distributor, slipped 0.6 percent to 4,200 rupiah. Gas Negara was cut to “underweight” from “overweight” by Stevanus Juanda, an analyst at JPMorgan Chase & Co.

PT Tiga Pilar Sejahtera Food (AISA IJ), the instant-noodle maker, climbed 1.5 percent to 700 rupiah, snapping a one-week, 8 percent plunge. Tiga Pilar said 2010 profit doubled from a year earlier to 75.86 billion rupiah ($8.9 million).

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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