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Indonesia Stocks: Astra International, London Sumatra, Indika

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) advanced 34.65 points, or 0.9 percent, to 3,814.82.

PT Astra Agro Lestari (AALI IJ), Indonesia’s largest listed plantation company by market value, rose 1.3 percent to 23,050 rupiah, the biggest gain since May 9. Palm oil futures climbed as much as 0.9 percent to 3,447 ringgit ($1,132) a metric ton in Kuala Lumpur, advancing for a third day. Astra Agro plants only oil palm trees.

PT Astra International (ASII IJ), the nation’s largest automotive retailer which also sells Toyota Motor Corp. vehicles, advanced 2.1 percent to 59,300 rupiah, the biggest boost to the Jakarta Composite index. PT Kim Eng Securities is considering upgrading Astra’s share-price estimate after Toyota said yesterday it will expand production capacity at its Indonesian plant, the brokerage said in a note today. Kim Eng rates Astra “hold” with a stock estimate of 55,000 rupiah.’

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s third-largest plantation stock by market value, gained 2.1 percent to 2,425 rupiah, the most since May 2, after announcing a cash dividend of 61 rupiah a share.

PT Petrosea (PTRO IJ), a construction, engineering and mining-services company, jumped 9.3 percent to 41,000 rupiah, the highest close since Nov. 9. PT Indika Energy (INDY IJ), the nation’s third-biggest coal producer, plans to sell a 20 percent to 30 percent stake in Petrosea this year, Investor Daily reported, citing Indika Vice President Director Wishnu Wardhana. Indika rose 4.3 percent to 4,275 rupiah, the most since Feb. 1. Wardhana and Petrosea Corporate Secretary Sudirman Said couldn’t be reached when called at their offices.

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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