Thailand Stocks: Charoen Pokphand, PTT Exploration, Thai Rung
Shares of the following companies had unusual moves in Thailand trading. (SET) Stock symbols are in parentheses and prices are at the close in Bangkok.
The SET Index jumped 1.8 percent to 984.18, the steepest advance since Nov. 8.
Oil companies: PTT Pcl (PTT) , Thailand’s biggest energy company, gained 1.7 percent to 302 baht, the largest increase since Nov. 10. PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil explorer, climbed 1.9 percent to 159 baht.
Oil advanced to its highest in more than a week on signs of economic recovery in the U.S., while sanctions on Syria stoked concern Middle East crude supplies may be threatened.
Charoen Pokphand Foods Pcl (CPF) , Thailand’s largest producer of animal feeds and meat, increased 4.1 percent to 32 baht, the highest close since Aug. 18. Charoen Pokphand agreed to acquire 74 percent of a Hong Kong affiliate for $2.1 billion, gaining access to agricultural businesses in China and Vietnam, the company said on Nov. 25. The shares had been suspended for the announcement.
Muramoto Electron (Thailand) Pcl (METCO) , a producer of electronic parts, dropped 2.5 percent to 195 baht, the most since Oct. 3. The company cut its annual dividend by more than half to 8 baht a share, it said in a regulatory filing today. It had a payout of 17 baht per share in the same period last year, according to data compiled by Bloomberg.
Thai Rung Union Car Pcl (TRU) , an auto-parts maker, climbed 1.9 percent to 5.25 baht, the most since Nov. 23. Net income in the third quarter jumped 58 percent to 93.1 million baht ($3 million).
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