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Indonesia Stock Movers: Astra Agro, Danamon, Tiga Pilar, 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) rose 69.5 points, 1.8 percent, to 3,960.02, gaining for a fourth day.

PT Astra Agro Lestari (AALI IJ), Indonesia’s biggest listed plantation company, rose 2.3 percent to 21,850 rupiah, providing the biggest boost to the Jakarta Agricultural Index. Palm oil futures gained 1.7 percent to 3,065 ringgit ($1,029) a metric ton in Kuala Lumpur. Astra Agro plants only oil palm trees.

PT Bank Danamon Indonesia (BDMN IJ), run by Singapore’s Temasek Holdings Pte and Deutsche Bank AG, climbed 2.8 percent to 5,500 rupiah, rising for a fourth day in the longest winning streak since March 9. Rocky Indrawan, an analyst at OSK Research Sdn upgraded the stock to “buy” from “neutral.”

PT Tiga Pilar Sejahtera Food (AISA IJ), an instant-noodle maker, rose 4 percent to 780 rupiah, the highest close since July 27. The company has acquired the Taro Snack brand and its plant from PT Unilever Indonesia (UNVR IJ), Investor Daily reported, citing Yulianni Liyuwardi, corporate secretary at Tiga Pilar. Unilever gained 2.1 percent to 16,750 rupiah. Liyuwardi couldn’t be reached when called at her office. Three calls to Unilever’s office weren’t answered.

PT Timah (TINS IJ), Indonesia’s biggest tin producer, rose 4.5 percent to 2,325 rupiah. Tin futures advanced 4.6 percent to $24,700 a metric ton in London on Aug. 12, the steepest increase in almost a year.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Shiyin Chen in Singapore at schen37@bloomberg.net

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