Indonesia Stocks: Bank Bukopin, Garuda Indonesia, Verena Multi

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 4 p.m. Jakarta-time close.

The Jakarta Composite index (JCI) declined 28.29 points, or 0.7 percent, to 4,145.83, falling from a record.

Palm oil producers: PT Bakrie Sumatera Plantations (UNSP IJ), a palm oil and rubber producer, fell 1.1 percent to 445 rupiah and PT Sampoerna Agro (SGRO IJ) declined 1.3 percent to 3,700 rupiah. Palm oil may slump to as low as 2,800 ringgit ($950) a metric ton in September as output jumps in Malaysia and Indonesia, the world’s two largest growers, according to Dorab Mistry, director of Godrej International Ltd.

PT Bank Bukopin (BBKP IJ), an Indonesian lender whose biggest shareholders are cooperatives, rose 9 percent to 850 rupiah, a record close, after reporting first-half net income jumped 51 percent from a year earlier to 337.4 billion rupiah ($39.7 million).

PT Garda Tujuh Buana (GTBO IJ), a mining company, surged 27 percent to close at an all-time high of 165 rupiah. The company said it posted a first-half net income of 12.71 billion rupiah, compared with a net loss of 16 billion rupiah a year earlier.

PT Garuda Indonesia (GIAA IJ), the nation’s biggest airline, rose 2 percent to 520 rupiah. Garuda pilots ended a strike today after a meeting with the company, Garuda President Director Emirsyah Satar said, confirming a report by Kontan.

PT Verena Multi Finance (VRNA IJ), the financing company, advanced 9.7 percent to 158 rupiah, a record close, after reporting first-half net income jumped 68 percent from a year earlier to 15.78 billion 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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