Bumi, Medco, Mitra Adiperkasa, Timah: Indonesia Equity Preview

Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index (JCI) fell 1 percent to 3,748.76.

Energy companies: Crude oil for July delivery dropped 2 percent in New York yesterday to a four-week low of $97.30 a barrel. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, declined 1 percent to 2,475 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, sank 3.4 percent to 198 rupiah.

Metal producers: Nickel for three month delivery fell 2.5 percent in London yesterday to the lowest settlement price since Nov. 23. Tin futures lost 2.2 percent.

PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, retreated 1.6 percent to 4,575 rupiah and PT Timah (TINS IJ), Indonesia’s biggest tin mining company, declined 2 percent to 2,500 rupiah.

PT Bumi Resources (BUMI IJ): Indonesia’s biggest coal producer said it will “focus exclusively” on the seaborne thermal-coal sector after it agreed to sell its metal-mining unit to Vallar Plc. Bumi dropped 2.9 percent to 3,325 rupiah.

PT Mitra Adiperkasa (MAPI IJ): The retailer will pay a final dividend of 20 rupiah a share, it said in a statement published in Bisnis Indonesia. Mitra declined 0.7 percent to 3,500 rupiah.

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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