Energi Mega, Gas Negara, Nusantara: Indonesia Equity Preview

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 rose 0.8 percent to 3,738.61, gaining for a third day.

Energy companies: Crude oil futures declined 3.2 percent to $90.20 a barrel in New York yesterday. Oil was last traded at $91.10 a barrel. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, rose 2.3 percent to 2,225 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, gained 2.4 percent to 169 rupiah.

PT Perusahaan Gas Negara (PGAS IJ): Indonesia’s biggest gas distributor’s net income in the nine months to September declined to 4.51 trillion rupiah from 4.69 trillion rupiah a year earlier, the company said in a statement to the stock exchange yesterday. Nine months sales slid to 14.2 trillion rupiah from 14.58 trillion rupiah a year earlier. Gas Negara jumped 5.5 percent to 2,900 rupiah.

PT Nusantara Infrastructure (META IJ): The construction company may spend $50 million to buy less than a 50 percent stake in a port operator in South Sumatra province, Bisnis Indonesia reported, citing Bernardus Djonoputro, managing director at the company. The stock slid 0.5 percent to 197 rupiah.

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