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Indonesia Stocks Movers: Adaro, International Nickel, Timah

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the noon Jakarta-time break.

The Jakarta Composite index (JCI) fell 1.7 percent to 3,765.13, tumbled for the first day.

Coal producers: PT Bumi Resources (BUMI IJ), Indonesia’s biggest coal producer, dropped 4.1 percent to 2,350 rupiah. PT Adaro Energy (ADRO IJ), second-largest coal mining company, fell 3.5 percent to 2,050 rupiah.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 0.2 percent in the week ended Oct. 28. Coal prices at the New South Wales port declined to $117.89 a metric ton from $118.10 the previous week, according to the globalCOAL NEWC Index.

Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, dropped 2.7 percent to 3,625 rupiah. PT Aneka Tambang (ANTM IJ), the second- biggest, slipped 2.2 percent to 1,790 rupiah.

Nickel for three-month delivery dropped 1 percent to $19,700 a metric ton on the London Metal Exchange on Oct. 28 and last traded at $19,351.

PT Buana Listya Tama (BULL IJ), an Indonesian provider of freight transportation services, advanced 2.8 percent to 112 rupiah after the company reported nine-month net income jumped to 250.64 billion rupiah from a year earlier.

PT Garuda Indonesia (GIAA IJ), Indonesia’s biggest carrier, climbed gained 2.3 percent to 445 rupiah as crude oil futures fell for a second day in New York, reducing fuel-cost pressure on the Indonesian airline.

PT Timah (TINS IJ), Indonesia’s largest tin mining company, dropped 2.7 percent to 1,970 rupiah, set for the steepest drop since Oct. 18. Fifteen tin producers in Indonesia, the world’s largest shipper, agreed to extend a self-imposed ban on exports until the end of the year to help boost prices. They will seek to widen support for the halt at a meeting this week.

To contact the reporter on this story: Femi Adi in Jakarta at fadi1@bloomberg.net

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

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