Indonesia Stock Movers: BW Plantation, Tifa Finance, 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 64.22 points, or 1.6 percent, to a record 4,003.69. The gauge gained 2 percent this week.

Metal producers: PT Timah (TINS IJ), the nation’s biggest tin producer, gained 3.9 percent to 2,675 rupiah, the steepest increase since April 8. PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, advanced 1.7 percent to 4,475 rupiah, the biggest increase since May 26.

Tin for three-month delivery advanced 3 percent to $27,540 a metric ton in London yesterday, the most since June 14. Nickel climbed 2.2 percent to $23,900 a ton.

PT BW Plantation (BWPT IJ), a palm oil producer, rose 2.7 percent to 1,160 rupiah, the sharpest increase since May 18. The company’s first-half net income may have almost doubled from the 85.6 billion rupiah ($10 million) reported in the same period last year, Corporate Secretary Kelik Irwantono said, confirming a report today by Investor Daily Indonesia.

PT Tifa Finance (TIFA IJ), which provides leasing and consumer loans, surged 55 percent to 310 rupiah in its trading debut after raising 55.6 billion rupiah in an initial public offering to expand its leasing business.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.