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Indonesian Stocks: Bumi Minerals, Energi Mega Persada, Elnusa

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

The Jakarta Composite index rose 1.3 percent to 3,857.88, the highest close since Sept. 13.

Energy companies: PT Elnusa (ELSA) , an Indonesian oil and gas services company, gained 4.4 percent to 240 rupiah. PT Energi Mega Persada (ENRG IJ), the nation’s second-biggest listed oil company, advanced 5.9 percent to 198 rupiah, its highest close since Aug. 23. Crude oil futures gained as much as 2.2 percent to $101 a barrel in New York.

PT Bumi Resources Minerals (BRMS) , a unit of Indonesia’s largest coal producer, PT Bumi Resources (BUMI) , jumped 7.6 percent to 570 rupiah, the most since Nov. 9. Bumi Resources is open to “strategic partnering” in Bumi Minerals, Bumi Resources Director Dileep Srivastava said in a mobile-phone text message in response to a query from Bloomberg News.

Investor Daily Indonesia reported earlier that Bumi Resources planned to sell shares in Bumi Minerals and was looking for a strategic partner to develop the unit’s mines. Bumi Resources rose 3.4 percent to 2,275 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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