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Thailand Stocks: PTT, TMB Bank, Thai Union Frozen Products

Feb. 7 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index rose 0.1 percent to 985.63.

PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 1.7 percent to 339 baht. Crude oil futures fell 1.7 percent to $89.03 a barrel on Feb. 4, the lowest since Jan. 27.

TMB Bank Pcl (TMB TB), a lender controlled by ING Groep NV, jumped 7.8 percent to 2.22 baht, its steepest advance since July 16. Industrial & Commercial Bank of China Ltd. is in talks with Thailand’s finance ministry to buy a 26 percent stake in TMB Bank, Thai-language Kao Hoon newspaper reported, citing an unidentified ministry official. The finance ministry wants to sell its remaining stake in TMB at 3.8 baht a share after holding the investment for more than 14 years, the report said.

Xie Taifeng, a Beijing-based press officer for ICBC, declined to comment. Thailand’s Finance Minister Korn Chatikavanij didn’t answer a call to his mobile phone today.

Thai Union Frozen Products Pcl (TUF TB), a seafood exporter which earns most of its sales from the U.S., climbed 5 percent to 47 baht, the most since Dec. 1. The U.S. jobless rate unexpectedly fell in January to the lowest level in 21 months, while payroll growth was depressed by winter storms. Unemployment declined to 9 percent from December’s 9.4 percent, the Labor Department said on Feb. 4 in Washington.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net TMB TB <Equity>

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