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Bakrie Sumatera, Modern, Semen Gresik: Indonesia Equity Preview

Sept. 29 (Bloomberg) -- Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index gained 1.1 percent to 3,513.17.

Metal producers: Nickel futures fell 2.7 percent to $18,000 a metric ton in after-hours trading in London while tin dropped 3.4 percent to $19,855 a ton. PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, declined 0.8 percent to 2,975 rupiah and PT Timah (TINS IJ), the largest tin producer, rose 0.6 percent to 1,820 rupiah.

PT Bakrie Sumatera Plantations (UNSP IJ): The Indonesian palm oil and rubber producer plans to “fulfill its obligation” on $600,000 of notes held by Credit Suisse (USA) LLC with 6.1 million of the company’s shares it bought back from the market, the company said. Bakrie Sumatera fell 3.3 percent to 290 rupiah.

PT Modern Internasional (MDRN IJ): The company may spend as much as 180 billion rupiah ($20 million) to build 60 7-Eleven stores in Jakarta next year, Kontan reported, citing Modern Internasional’s Finance Director Donny Susanto. The stock fell 1 percent to 2,450 rupiah.

PT Semen Gresik (SMGR IJ): Indonesia’s biggest cement producer plans to sell rupiah-denominated bonds equivalent of as much as $500 million late next year to help fund capital expenditure, President Director Dwi Soetjipto said. Semen Gresik rose 3.1 percent to 8,350 rupiah.

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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