Thailand Equity Movers: Bangchak Petroleum, PTT, Thai Airways
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index rose 8.81 points, or 0.9 percent, to 1,022.94, following a two-day drop. The gauge gained 0.4 percent this week, snapping five straight weekly drops.
Bangchak Petroleum Pcl (BCP) , a Thai state-owned refiner, lost 1.5 percent to 19.50 baht, the lowest close since June 13. The Stock Exchange of Thailand allowed Bangchak’s 41.8 million new shares to start trading today, according to a regulatory filing. The company offered new shares to holders of its convertible bonds at 14 baht each, the statement said.
PTT Pcl (PTT) , Thailand’s biggest energy company, climbed 1.5 percent to 334 baht. The delay in coal and power projects will reduce spending this year by 19 percent to 77.5 billion baht, Chief Executive Officer Prasert Bunsumpun told reporters today in Bangkok. The company will increase spending by 25 percent to 94.1 billion baht in 2012, he said.
Thai Airways International Pcl (THAI) , the country’s largest carrier, jumped 5.7 percent to 28 baht on speculation falling oil prices will cut fuel costs. Crude oil yesterday tumbled 4.6 percent to $91.02 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 18.
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