Indonesia Stocks: Astra Agro, Benakat Petroleum, Saranacentral

Shares of the following companies had unusual (JCI) moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the close in Jakarta.

The Jakarta Composite index rose 1.1 percent to 3,794.27, the highest close since Nov. 16. The gauge has gained 2.5 percent this year.

Nickel producers: PT International Nickel Indonesia (INCO) , the nation’s biggest producer of the metal, advanced 1.7 percent to 3,050 rupiah. PT Timah (TINS) , Indonesia’s largest tin producer, rose 1.2 percent to 1,670 rupiah. Nickel futures gained 2.6 percent to $18,865 a metric ton in London yesterday and tin added 1.6 percent to $19,000 a ton.

Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s biggest plantation stock by market value, advanced 1.9 percent to 21,150 rupiah. PT Sampoerna Agro (SGRO) , the second largest, increased 1.7 percent to 3,000 rupiah. Palm oil futures climbed as much as 1.6 percent to 3,069 ringgit ($970) a metric ton in Kuala Lumpur.

PT Benakat Petroleum Energy (BIPI) , an oil and gas company, rose 2.5 percent to 205 rupiah, the highest close since May 5, 2010. Benakat agreed to buy PT Astrindo Mahakarya Indonesia, a provider of coal mining infrastructure services, for as much as $600 million, the company said today.

PT Saranacentral Bajatama (BAJA IJ), a steel products maker, jumped 36 percent to 340 rupiah on its listing debut. The company raised 100 billion rupiah ($11 million) through an initial public offering last week to expand output capacity and for working capital.

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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