Indonesia Stock Movers: London Sumatra, Petrosea
(Corrects date of palm oil price in second mover item.)
The Jakarta Composite index rose 0.2 percent to 4,023.53.
Metal producers: PT Vale Indonesia (INCO) , the nation’s biggest nickel producer, increased 1.3 percent to 4,025 rupiah while PT Aneka Tambang (ANTM) , the second-largest, rose 1.1 percent to 1,930 rupiah. PT Timah (TINS) , Indonesia’s biggest tin mining company, rose 1.1 percent to 1,920 rupiah. Nickel futures gained 2.1 percent to $21,305 a metric ton in London on Feb. 3, while tin futures added 1 percent to $24,400 a ton.
Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s largest plantation stock by market value, gained 1.9 percent to 21,900 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) , the second-biggest, rose 2 percent to 2,500 rupiah. Palm oil futures climbed as much as 1 percent to 3,085 ringgit ($1,024) a metric ton in Kuala Lumpur on Feb. 3.
PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, gained 2.2 rupiah to 2,325 rupiah. Crude futures in New York rose for the first time in six days on Feb. 3, gaining 1.5 percent to $97.84 a barrel. Oil last traded at $97.25 in New York.
PT Petroseo (PTRO) , a service provider to the oil and gas and mining industries, sank 19 percent to 36,500 rupiah, set for the steepest drop since Sept. 30, 2002. The stock fell after Bisnis Indonesia reported parent company PT Indika Energy sold 28.99 million Petrosea shares at 36,000 rupiah each, 20 percent less than the closing price on Feb. 3. A call to Indika’s office in Jakarta wasn’t answered.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
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