Indonesia Stocks: Bank Tabungan Pensiunan, International Nickel

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) declined 15.60 points, or 0.4 percent, to 4,177.85.

Energy companies: PT Energi Mega Persada (ENRG IJ), the nation’s second-largest listed oil company, dropped 1.9 percent to 260 rupiah and PT Benakat Petroleum Energy (BIPI IJ), fell 2 percent to 100 rupiah. Oil futures declined for a third day in after-hours trading in New York, the longest losing streak since May. Oil dropped as much as 1.1 percent to $93.85 a barrel.

PT Bank Tabungan Pensiunan Nasional (BTPN IJ), which provides loans to retirees, gained 2 percent to 3,925 rupiah, a record close. The company is considering selling 2 trillion rupiah ($236.2 million) of bonds this year and next year to fund lending growth, Investor Daily Indonesia said, citing Director Anika Faisal.

The sale is part of a planned 2.5 trillion-rupiah bond issue, of which 500 billion rupiah was sold earlier this year, according to the report. Faisal couldn’t be reached when called at her office in Jakarta.

PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, retreated 1.8 percent to 4,200 rupiah, the lowest close since Sept. 3. Nickel futures declined 1.8 percent to $24,550 a metric ton in London yesterday, the steepest drop since July 11, and last traded at $24,475.

PT Nipress (NIPS IJ), a manufacturer of batteries, advanced 4.9 percent to 4,300 rupiah, the highest close since Nov. 15, after the company reported first-half net income increased 14 percent from a year earlier to 4.4 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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