Indonesia Stocks: Adaro, Bakrie Sumatera, Indika

(Corrects ranking of PT Perusahaan Perkebunan London Sumatra Indonesia in third paragraph.)

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of 10:21 a.m. in Jakarta. The Jakarta Composite index (JCI) rose 0.5 percent to 3,742.93.

Coal producers: PT Indika Energy (INDY IJ), the nation’s third-largest coal producer, declined 1.3 percent to 3,775 rupiah. PT Bumi Resources (BUMI IJ), Asia’s biggest exporter of power-station coal, dropped 0.8 percent to 3,025 rupiah.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, fell 0.1 percent to $119.19 a metric ton in the week ended June 17, according to the globalCOAL NEWC Index.

Rubber producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s third-biggest listed plantation company by market value, gained 1.1 percent to 2,300 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ) rose 1.2 percent to 420 rupiah.

Rubber futures in Tokyo reversed losses. November-delivery rubber gained as much as 0.6 percent to 382.0 yen a kilogram before trading at 381.6 yen.

PT Adaro Energy (ADRO IJ), Indonesia’s second-largest coal producer, gained 1.1 percent to 2,300 rupiah. The Indonesian coal producer, Itochu Corp. and Electric Power Development Co. won preferred negotiation rights for a coal-fired power plant project in Indonesia. Electric Power Development, known as J- Power, made the announcement today in a statement on its website.

To contact the reporter on this story: Femi Adi in Jakarta at fadi1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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