Indonesian Stock Movers: Bank Danamon, Bank Tabungan Pensiunan

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 0.4 percent to 4,096.20, the highest close since May 11.

PT Bank Danamon Indonesia (BDMN) , a takeover target of Singapore’s DBS Group Holdings Ltd., rose 1.6 percent to 6,300 rupiah, the highest close since April 26. Bank Indonesia issued regulations that may allow DBS to proceed with the planned purchase. The shares also rose after Danamon said yesterday first-half net income gained 36 percent from a year earlier to 2 trillion rupiah ($211 million).

PT Bank Tabungan Pensiunan Nasional (BTPN) , which provides loans to retirees, climbed 1.8 percent to 4,200 rupiah, a record close, after it said it plans to sell 1.25 trillion rupiah of bonds this month to boost lending.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.