Thai Stocks: PTT Exploration, Kasikornbank, Robinson, Tycoons
The SET Index rose 1 percent to 1,029.37, taking its gain this week to 6.4 percent.
Oil producers: PTT Pcl (PTT) , Thailand’s biggest energy company, gained 1.3 percent to 320 baht, its highest close since Sept. 9. PTT Exploration & Production Pcl (PTTEP), the biggest publicly listed explorer, rose 1.2 percent to 166 baht. Crude oil futures gained as much as 0.9 percent to $101.09 a barrel in after-hours trading in New York and have advanced 4.1 percent for the week.
Kasikornbank Pcl (KBANK) , a Thai lender, rose 2.1 percent to 122 baht, its highest close since Nov. 8. The bank is targeting 12 percent growth in lending to small-and medium-sized businesses in fiscal 2012, up from 9.4 percent in the first nine months of 2011, Bualuang Securities Pcl wrote today in a report.
Robinson Department Store Pcl (ROBINS) , the country’s second-largest department store operator, rose 5.1 percent to 41 baht, its highest close since November 1996. The company plans to open about 20 stores over the next few years, expanding its dominance in provinces outside Bangkok, KGI Securities (Thailand) Pcl said in a note to clients today. KGI reinitiated coverage of Robinson with an “outperform” rating and a stock- price target of 50 baht.
Tycoons Worldwide Pcl (TYCN) , a maker of steel wires and screws, fell 0.7 percent to 7.25 baht. The company yesterday bought back 13.1 million of its shares at 7.3 baht apiece, it said in a regulatory filing.
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