March 22 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.
The Jakarta Composite index slid 1.13 points, or less than 0.1 percent, to 3,517.72.
PT Adaro Energy (ADRO IJ), Indonesia’s second-largest coal producer, dropped 4.3 percent to 2,225 rupiah, the lowest close since Nov. 4, after CIMB-GK Securities Pte. reduced the stock to “trading sell” from “outperform,” citing “potential earnings disappointment” in the fourth quarter of 2010.
PT Bank Rakyat Indonesia (BBRI IJ), Indonesia’s second-largest bank by assets, rose 2 percent to 5,200 rupiah. Bank Rakyat was raised to “overweight” from “underweight” at JPMorgan Chase & Co. The brokerage increased its share-price forecast to 6,000 rupiah from 4,250 rupiah, analysts led by Aditya Srinath wrote in a report.
PT First Media (KBLV IJ), an Indonesian cable-television provider, jumped 12 percent to 940 rupiah, the biggest increase since Jan. 18. First Media said CVC Capital Partners Asia Pacific agreed to invest 2.35 trillion rupiah ($270 million) in the company and its unit.
PT Semen Gresik (SMGR IJ), Indonesia’s largest cement producer, advanced 2.4 percent to 8,650 rupiah. The company’s 2010 net income rose to 3.63 trillion rupiah from 3.33 trillion rupiah a year earlier, it said. That compares with the 3.58 trillion rupiah median estimate of 25 analysts in a Bloomberg News survey.
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