Indonesian Stock Movers: Medco, Summarecon Agung, XL Axiata
The Jakarta Composite index rose 0.4 percent to 4,105.17, the highest close since Aug. 4. The gauge has risen 7.4 percent this quarter.
PT Intiland Development (DILD) , a property developer, jumped 12 percent to 325 rupiah, the highest close since Feb. 17. The company’s Ngoro Industrial Park in East Java province is in talks with four companies to sell them about 40 hectares of land, Corporate Secretary Theresia Rustandi said in an e-mailed statement.
PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, slipped 2.2 percent to 2,200 rupiah. Crude oil futures dropped 0.3 percent to $105.06 a barrel in New York, extending yesterday’s 1.8 percent decline.
PT Summarecon Agung (SMRA) , a property developer, gained 2.7 percent to a record high of 1,540 rupiah after reporting 2011 net income jumped 68 percent to 392 billion rupiah ($43 million), beating the average estimate of 326 billion rupiah in a Bloomberg News survey of 17 analysts.
PT Wijaya Karya (WIKA) , a state-owned construction company, gained 5.8 percent to 910 rupiah, a record close. CIMB Group Holdings Bhd. increased its share-price estimate to 1,000 rupiah from 890 rupiah in a note today, saying the company is “enjoying margin expansion in the midst of an infrastructure upcycle.”
PT XL Axiata (EXCL) , a unit of Malaysia’s Axiata Group Bhd., rose 5.2 percent to 5,100 rupiah, the biggest gain since Oct. 27, after President Director Hasnul Suhaimi said the company will pay a dividend this year of 130 rupiah a share, more than planned, as it wants to attract investors.
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