Indonesia Stocks: Astra Agro Lestari, Indika Energy, Timah
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 6.26 points, or 0.2 percent, to 3,844.02, gaining 0.3 percent this week. The market was closed yesterday for a public holiday.
Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s biggest plantation company by market value, rose 0.9 percent to 23,850 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the third largest, increased 1 percent to 2,425 rupiah.
Palm oil futures climbed as much as 1.8 percent to 3,465 ringgit ($1,141) a metric ton in Kuala Lumpur, advancing for a second day.
PT Indika Energy (INDY IJ), the controlling shareholder of Indonesia’s third-biggest coal producer, retreated 1.8 percent to 4,150 rupiah, falling for a third day. The company’s first- quarter net income declined to 265.2 billion rupiah ($31 million) from 291.7 billion rupiah a year earlier, Bisnis Indonesia reported, citing Finance Director Azis Armand. Three calls to Indika’s office in Jakarta weren’t answered.
PT Timah (TINS IJ), the nation’s largest tin producer, lost 1 percent to 2,600 rupiah. Tin for three-month delivery sank 3.6 percent to $26,600 a metric ton in London yesterday, the lowest settlement since Jan. 11.
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