Indonesian Stock Movers: Elnusa, Garuda Indonesia, Medco Energi

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 advanced 0.2 percent to 4,139.54, its first gain in four days.

Oil companies: PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, rose 3.7 percent to 2,100 rupiah. PT Elnusa (ELSA) , an oil services provider, climbed 1.5 percent to 199 rupiah. Crude futures rose 1.7 percent to $102.70 a barrel in New York yesterday, rising from an eight- week low. Oil was last at $103.00.

PT Garuda Indonesia (GIAA) , the national flag carrier, gained 3.3 percent to 620 rupiah, its biggest increase since March 15. Morgan Stanley has been appointed by PT Danareksa Sekuritas, PT Bahana Securities and PT Mandiri Sekuritas to advise on the sale of their 10.8 percent stake in the airline, Investor Daily Indonesia reported, citing Parikesit Suprapto, a deputy to the state enterprise minister. Suprapto couldn’t be reached when called on his mobile-phone.

PT Timah (TINS) , Indonesia’s largest tin producer, fell 1.1 percent to 1,750 rupiah. Tin for three-month delivery lost 1.4 percent to $22,425 a metric ton in London yesterday, falling for a second day.

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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