Thailand Stocks: Precious Shipping, Thai Oil, Thoresen Thai

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index rose 13.25 points, or 1.3 percent, to 1,036.21, halting a four-day, 4.6 percent slide.

Shipping companies: Precious Shipping Pcl (PSL) , Thailand’s biggest bulk carrier, gained 4 percent to 18.1 baht, the most in since Aug. 2. Thoresen Thai Agencies Pcl (TTA) rose 2.2 percent to 19 baht, the steepest advance since Aug. 23.

The Baltic Dry Index, a measure of shipping costs for commodities, increased 1.4 percent to 1,927 yesterday, the highest level since Dec. 20, according to the Baltic Exchange in London.

Bangkok Expressway Pcl (BECL) , the nation’s largest private tollway operator, advanced 1.1 percent to 18 baht, the biggest increase since Aug. 31. The company will pay a dividend of 0.60 baht a share. That would be an increase from the payout of 0.55 baht a share in the same period last year, data compiled by Bloomberg show.

Group Lease Pcl (GL) , a lender of motorcycle loans, rose 4.8 percent to 27.5 baht, the largest increase since Aug. 10. The company will pay a dividend of as much as 1.75 baht a share, it said in a regulatory filing.

Thai Oil Pcl (TOP) , Thailand’s biggest oil refiner by market value, climbed 2 percent to 64 baht, the most since Aug. 31. The company may spend as much as $500 million to acquire new projects in the next two to three years, Chief Executive Officer Surong Bulakul said. The company is studying a proposal to acquire two to three businesses related to petrochemicals and refineries, Surong told reporters in Bangkok. The study will be concluded by the end of this year, Surong said.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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