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Thailand Stocks: Esso (Thailand), Sri Trang Agro, Thai Rubber

Jan. 25 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index fell 0.7 percent to 1,056.01, the first decline in three days.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, increased 4.3 percent to 21.7 baht, the highest close since Sept. 19. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) jumped 8.4 percent to 4.38 baht, the highest since Aug. 24.

Rubber futures rose as much as 2.2 percent to 321.1 yen a kilogram ($4,120 a metric ton) in Tokyo, their highest level since Oct. 18. It settled at 320.7 yen.

Esso (Thailand) Pcl (ESSO TB), a refinery unit of Exxon Mobil Corp., gained 2.4 percent to 13 baht, the highest level since May 20. Exxon may complete the sale of its entire 65 percent stake in Esso “soon,” Kao Hoon reported, without saying where it obtained the information. Exxon may offer to sell Esso shares to Thai Oil Pcl at between 14 baht and 16 baht apiece, the Thai-language newspaper reported. Thai Oil (TOP TB) was unchanged at 61.5 baht.

Thai Oil Chief Executive Officer Surong Bulakul denied the report today. Mongkolnimit Auacherdkul, Esso’s spokesman, declined to comment.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, dropped 2 percent to 173 baht, the most since Jan. 16. Crude oil traded below $100 a barrel in New York as signs of rising U.S. stockpiles countered a report that showed gasoline demand rose last week in the country, the world’s largest oil consumer.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net

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