Indonesia Stock Movers: Bentoel Internasional, Gajah Tunggal

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) climbed for a fourth day, rising 3.96 points, or 0.1 percent, to 4,005.39.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company by market value, declined 1.3 percent to 22,200 rupiah, the first drop in four days. PT Bakrie Sumatera Plantations (UNSP IJ) fell 1.3 percent to 390 rupiah.

Palm oil futures declined as much as 0.9 percent to 3,015 ringgit ($1,008) a metric ton in Kuala Lumpur.

PT Gajah Tunggal (GJTL IJ), Indonesia’s largest tiremaker, rose 1.6 percent to 3,150 rupiah, the highest close since Aug. 4. The company plans to sell its entire 26.25 percent stake in PT Polychem Indonesia, Bisnis Indonesia reported, citing Catharina Widjaja, a director at Gajah Tunggal. Widjaja couldn’t be reached when called at her office in Jakarta.

PT Bentoel Internasional Investama (RMBA IJ), the smallest of Indonesia’s three listed cigarette companies, gained 3.8 percent to 820 rupiah, the highest close since Aug. 5. British American Tobacco Plc, Europe’s largest cigarette maker, sold 970.5 million shares in Bentoel to UBS AG for 737.6 billion rupiah ($86.1 million), or 760 rupiah a share, Bentoel said.

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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