Indonesia Stocks: Citra Marga Nusaphala, Perusahaan Gas Negara
The Jakarta Composite Index reversed earlier losses, rising 1.1 percent to 3,808.77, the first gain in three days.
Energy related companies: PT Perusahaan Gas Negara (PGAS) , Indonesia’s biggest gas distributor, gained 0.8 percent to 3,175 rupiah. Crude futures declined for the first time in seven days yesterday, dropping 2 percent to $99.36 a barrel in New York. Oil was last at $99.48. A lower oil price reduces the appeal of alternative fuels such as gas.
PT Citra Marga Nusaphala Persada (CMNP) , a toll road operator, gained 0.6 percent to 1,650 rupiah. Citra Marga plans to raise 1 trillion rupiah to 1.5 trillion rupiah ($163 million) selling bonds in the first half of 2012 to fund highway acquisitions, Kontan reported, citing Finance Director Indrawan Sumantri.
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