Indonesian Stocks: Intiland Development, Medco Energi, Timah

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 (JCI) rose 0.7 percent to 4,047.47, the highest close since July 6.

PT Medco Energi Internasional (MEDC) , Indonesia’s largest listed oil company, climbed 1.2 percent to 1,740 rupiah. Crude oil futures gained 1.2 percent to $87.10 a barrel in New York on July 13. Oil was last at $86.86 in after-hours trading.

PT Intiland Development (DILD) , a property developer, rose 4.3 percent to 365 rupiah, the steepest increase since June 11. Kontan reported it plans to buy 100 hectares of land for its Ngoro Industrial Park in East Java province. Corporate Secretary Theresia Rustandi couldn’t immediately confirm the report when called at her office.

PT Timah (TINS) , Indonesia’s largest tin producer, rose 2.1 percent to 1,450 rupiah, the most since July 4. Tin for three-month delivery advanced 1.5 percent to $18,780 a metric ton in London on July 13.

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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