Indonesian Stock Movers: Adaro, Energi Mega, Global Mediacom
The Jakarta Composite Index (JCI) rose 0.9 percent to 3,991.54, the highest close since May 22.
Energy-related companies: PT Adaro Energy (ADRO) , Indonesia’s second-biggest coal producer, jumped 7.6 percent to 1,560 rupiah, its steepest increase since Oct. 6. PT Energi Mega Persada (ENRG) , the nation’s second-largest listed oil company, climbed 2.1 percent to 146 rupiah.
Crude futures surged 9.4 percent to $84.96 a barrel in New York on June 29, the most in more than three years. Oil was last at $83.66 in after-hours trading.
Nickel producers: PT Vale Indonesia (INCO) , the nation’s biggest producer of the metal, rose 8.4 percent to 2,900 rupiah, the most since Oct. 17. PT Aneka Tambang (ANTM) , the second largest, advanced 1.5 percent to 1,360 rupiah. Nickel futures rose 3.2 percent to $16,730 a metric ton in London on June 29, the biggest gain since April 26.
PT Global Mediacom (BMTR) , a media company, climbed 1.3 percent to 1,540 rupiah, the highest close since May 29. Global Mediacom will offer 1.25 trillion rupiah ($133 million) of bonds from July 3 through July 9 to raise working capital and fund capital expenditure, the company said in a statement published in the Seputar Indonesia newspaper.
PT Tiga Pilar Sejahtera Food (AISA) , an instant-noodle maker, increased 3.3 percent to 630 rupiah. The company plans to buy land in West and East Kalimantan provinces and on Sumatra island to boost its land bank to 200,000 hectares in the next three years, the Jakarta Globe reported, citing Corporate Secretary Yulianni Liyuwardi. The company owns 79,000 hectares of land for oil-palm plantations, the report said. Liyuwardi couldn’t be reached when called at her office.
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