Thailand Stocks: CIMB Thai Bank, PTT Exploration, Thai Union
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok. Thailand’s financial markets were closed yesterday for a public holiday.
The SET Index (SET) rose for the first time in three days, climbing 1.3 percent to 1,168.31, the highest since July 1996.
Oil companies: PTT Pcl (PTT) , Thailand’s biggest energy company, advanced 1.1 percent to 357 baht, the most since Feb. 20. PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil explorer, climbed 1.4 percent to 183 baht. Crude oil rose for a second day in New York on signs that sanctions on Iran are succeeding in cutting the nation’s crude exports.
CIMB Thai Bank Pcl (CIMBT) , a Thai unit of Malaysia’s CIMB Group Holdings Bhd., dropped 2 percent to 2.90 baht, the largest decline since Jan. 13. The Thai lender will offer as many as 4.89 billion new shares at 1 baht each in a rights offer, it said in a regulatory filing.
Pan Asia Footwear Pcl (PAF) , Thailand’s biggest shoemaker, fell 2.9 percent to 1.65 baht, the lowest close since Dec. 26. The stock resumed trading for the first time since Feb. 29 after the company submitted its 2011 statements. Pan Asia reported a fifth straight annual loss in 2011 of 142.6 million baht ($4.7 million).
Thai Union Frozen Products Pcl (TUF) , the nation’s largest seafood exporter, gained 2.7 percent to 66.75 baht, the most since Feb. 7. The company was upgraded to “buy” from “accumulate” by Naree Apisawaittkan, an analyst at Phillip Securities (Thailand) Pcl
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