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Indonesia Stocks: Bumi Citra Permai, Fajar Surya, Medco Energi

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Nov. 30 (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 0.7 percent to 3,715.08, gaining for a third day. The measure fell 2 percent this month.

PT Bumi Citra Permai (BCIP IJ), a construction services company, jumped 20 percent to 590 rupiah, a record close, after the bourse lifted a one-day trading suspension. Bumi Citra said Nov. 21 it plans to buy PT Gunung Besi Utama, which operates an iron ore mine. The stock has surged 162 percent since the announcement.

PT Fajar Surya Wisesa (FASW IJ), a paper producer, surged 24 percent to a record 3,650 rupiah after Fitch Ratings affirmed the company’s long-term foreign currency and local currency default ratings at “B+” with a stable outlook.

PT Medco Energi Internasional (MEDC IJ), the nation’s biggest listed oil company, rose 3.3 percent to 2,325 rupiah, the steepest increase since Nov. 8. Crude oil futures gained 1.6 percent to $99.79 a barrel in New York yesterday, the highest settlement since Nov. 16. Oil last traded at $99.44.

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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