Indonesia Stocks: Adira Dinamika, Astra Agro Lestari, Medco
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) rose 1.1 percent to 3,820.67, the first gain in three days.
Energy producers: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, advanced 2.1 percent to 2,425 rupiah, the last gain in a week. PT Energi Mega Persada (ENRG IJ), the second largest, increased 3.2 percent to 160 rupiah. Crude-oil futures rose 1.2 percent to $98.99 a barrel in New York on Nov. 11, the highest settlement since July 26. Oil last traded at $99.10.
PT Adira Dinamika Multi Finance (ADMF IJ), a financing company, climbed 1.3 percent to 11,500 rupiah. Adira plans to sell 2 trillion rupiah ($223 million) of bonds next month to help fund its vehicle-financing business, the company said in a prospectus published in Bisnis Indonesia.
PT Astra Agro Lestari (AALI IJ), Indonesia’s largest publicly traded plantation company by market value, gained 1.9 percent to 21,900 rupiah. Palm oil may climb to 4,000 ringgit ($1,277) by the end of June, the highest level since 2008, as output slows in Indonesia and Malaysia amid “buoyant” demand, said Dorab Mistry, director of Godrej International Ltd.
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