Thailand Stocks: PTT Exploration, Precious, Thoresen, Workpoint
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Bangkok.
The SET Index fell 3.24 points, or 0.3 percent, to 1,065.89, a second day of declines. The gauge has climbed 2.8 percent this week.
Shipping companies: Precious Shipping Pcl (PSL) , Thailand’s biggest shipping company by market value, gained 2.3 percent to 17.8 baht, set for the highest close since Aug. 5. Thoresen Thai Agencies Pcl (TTA) advanced 1.5 percent to 20 baht.
The Baltic Dry Index, a measure of shipping costs for commodities, rose 3.9 percent to 1,682 yesterday, the highest level since Jan. 4, according to the Baltic Exchange in London.
PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, dropped 2.9 percent to 168.5 baht, set for the steepest slump since Aug. 19. The company may raise funds for acquisitions and has asked banks to submit proposals, Chief Executive Officer Anon Sirisaengtaksin said. PTT Exploration may sell bonds or shares or seek loans, Anon said today by phone.
Workpoint Entertainment Pcl (WORK) , a producer of television programs, rose 2.8 percent to 14.60 baht, poised for the highest close since January 2008. Revenue may rise 33 percent in 2011 on its expansion into satellite broadcasting, the Bangkok Post newspaper reported, citing Chief Financial Officer Kanchit Kawachat. Kanchit was not immediately available to comment at his office.
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