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Thailand Stocks: Bangkok Bank, Charoen Pokphand, GFPT, Minor

April 23 (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 0.4 percent to 1,189.35, snapping a three-day gain.

Poultry producers: Charoen Pokphand Foods Pcl (CPF TB), the nation’s biggest chicken meat producer, gained 1.3 percent to 38.5 baht, a record close. GFPT Pcl (GFPT TB) advanced 1 percent to 10.10 baht.

Retail prices for whole chicken jumped to an average of 59 baht ($1.90) per kilogram on April 20, a 10 percent gain from April 2 prices, according to the website of Thailand’s Department of Internal Trade.

Bangkok Bank Pcl (BBL TB), Thailand’s biggest lender, dropped 3.1 percent to 187 baht, the biggest loss since Jan. 5. Citigroup Inc. downgraded the bank to neutral from buy, citing limited upside following the stock’s recent rally. Neutral is the equivalent to hold. Net income in the first quarter rose 25 percent to 8.08 billion baht, the bank said after the market close on April 20.

Minor International Pcl (MINT TB), a hotel and fast-food restaurant operator, increased 2.2 percent to 13.90 baht, the highest close since June 2008. First-quarter net income may rise 28 percent to 1.06 billion baht, Preeyanun Tripetchchuporn, an analyst at Phillip Securities (Thailand), wrote in a note after meeting its management. An increase in hotel bookings and food business revenue will boost Minor’s earnings, the analyst wrote. Suphatchanee Saiphatana, Minor’s finance manager, didn’t answer a call to her office in Bangkok today.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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