Indonesia Stock Movers: Astra Agro, Benakat Petroleum, XL Axiata

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

The Jakarta Composite Index (JCI) fell 1.8 percent to 3,915.16, the biggest drop since Nov. 21.

Oil producers: PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, retreated 3.1 percent to 2,350 rupiah, the lowest since Dec. 15. PT Benakat Petroleum Energy (BIPI) lost 2.1 percent to 235 rupiah. Crude futures in New York dropped for a second day, losing as much as 0.9 percent to $98.71 a barrel.

Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s biggest listed plantation company by market value, fell 2.1 percent to 21,100 rupiah. PT Bakrie Sumatera Plantations (UNSP) decreased 1.7 percent to 290 rupiah. Palm-oil futures declined as much as 1.6 percent to 3,085 ringgit ($1,008) a metric ton in Kuala Lumpur.

PT XL Axiata (EXCL) , a unit of Malaysia’s Axiata Group Bhd., sank 5.8 percent to 4,500 rupiah, the biggest loss since Oct. 28. CIMB Investment Bhd. lowered its share-price estimate to 5,300 rupiah, citing the potential for a lower profit margin in 2012.

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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