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Indonesia Stock Movers: Garuda Indonesia, Indofood CBP, Timah

Oct. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite index rose 0.4 percent to 3,829.96, advancing for a fifth day. The gauge climbed 5.8 percent this week.

Metal producers: PT Timah (TINS IJ), Indonesia’s largest tin mining company, rose for a fifth day, adding 2.3 percent to 2,025 rupiah, the highest close since Sept. 21. PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, gained 7.2 percent to 3,725 rupiah, the highest since Sept. 16. Tin futures rose 3.2 percent to $22,050 a metric ton on the London Metal Exchange yesterday, while nickel increased 4.1 percent to $19,900 a ton.

PT Garuda Indonesia (GIAA IJ), the nation’s biggest carrier, jumped 7.4 percent to 435 rupiah, the steepest advance since Aug. 18. Net income in the nine months to September rose 57 percent from a year earlier to 306.42 billion rupiah ($34.8 million), the airline said today.

PT Indofood CBP Sukses Makmur (ICBP IJ), Indonesia’s largest instant-noodle maker, gained 3.7 percent to 5,600 rupiah, its highest close since Aug. 24. Net income in the nine months to September increased 18 percent from a year earlier to 1.52 trillion rupiah, Indofood CBP said.

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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