July 12 (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 fell 14.85 points, or 1.4 percent, to 1,062.39, the most since June 8.
Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, dropped 1.8 percent to 27.25 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) lost 1.8 percent to 5.6 baht.
Rubber futures on the Tokyo Commodity Exchange sank for a fourth day, touching the lowest level in more than a week, as concern grew that the European sovereign-debt crisis may spread, weakening demand for the commodity used to make tires.
LPN Development Pcl (LPN TB), a condominium developer, slid 3.8 percent, the biggest decrease since June 17, to 10.2 baht. The company was downgraded to “hold” from “buy” at Bualuang Securities Pcl, which cited a delay in new projects.
Quality Houses Pcl (QH TB), a property developer, declined 1.7 percent to 1.79 baht, the lowest close since June 30. The company had its share-price estimate cut to 2.75 baht from 3.3 baht at Credit Suisse Group AG, which cited lower profit estimates for 2011 and 2012.
Tisco Financial Group Pcl (TISCO TB), a financial company, fell 3.7 percent to 38.75 baht, the steepest loss since April 26. The company reported second-quarter profit rose 13 percent to 863.2 million baht ($28.4 million). Still, its net interest margin, the difference between its funding costs and lending rates, narrowed to 4.1 percent in the quarter, from 5.1 percent a year earlier, it said in a regulatory filing.
“Tisco’s outlook is dim with slower loan growth and a narrower net interest margin,” Sugittra Kongkhajornkidsuk, an analyst at DBS Vickers, wrote in a note today.
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