Thailand Stocks: Big C, Quality Houses, Siam Cement, Thai Oil

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 for a second day, declining 1.4 percent to 1,190.65, its lowest close since April 23.

Oil companies: PTT Pcl (PTT TB), Thailand’s largest energy company, dropped 2.9 percent to 335 baht, the steepest decrease since Nov. 9. PTT Exploration & Production Pcl (PTTEP TB), the country’s only publicly traded oil explorer, lost 1.2 percent to 171 baht.

Crude futures fell for a seventh day, poised for the longest losing streak since December 2009. Oil dropped as much as 0.5 percent to $96.29 a barrel in New York.

Big C Supercenter Pcl (BIGC TB), Thailand’s second-biggest hypermarket operator, gained 3 percent to 209 baht. The company raised 4.16 billion baht ($134 million) by selling shares in a private placement, it said in a regulatory filing.

Chumporn Palm Oil Industry Pcl (CPI TB), a palm-oil producer, surged 18 percent to 5.30 baht, the highest close since May 2008. Profit in the first quarter more than doubled to 86.2 million baht.

Malee Sampran Pcl (MALEE TB), a producer of fruit juices and canned fruits, surged 24 percent to 86 baht, the highest close since November 1993. Net income in the first quarter surged to 176.9 million baht from 30.3 million baht a year earlier.

Quality Houses Pcl (QH TB), a residential property developer, climbed 2.9 percent to 1.77 baht. Net income in the first quarter jumped 93 percent to 304.3 million baht, it said in a regulatory filing.

Quality Construction Products Pcl (QCON TB), a producer of concrete products, jumped 19 percent to 8.9 baht, bound for the highest close since April 2005. Net income in the first quarter tripled to 131.7 million baht, according to a company statement.

Siam Cement Pcl (SCC TB), the nation’s fifth-biggest company by market value, dropped 1.2 percent to 342 baht, the most since April 23. Siam Cement will lose as much as 350 million baht a quarter after Bangkok Synthetic Co. Ltd. shut its plant in Rayong province following a fire during the weekend, it said in a regulatory filing. Siam Cement holds a 26 percent stake in Bangkok Synthetic.

Thai Oil Pcl (TOP TB), the nation’s largest oil refiner, slid 3.7 percent to 64.5 baht, the most since Nov. 21. The company was downgraded to neutral, the equivalent of hold, at Credit Suisse Group AG, which said its earnings may weaken on lower margins and oil prices. Net income in the first quarter was little changed from a year ago at 7.23 billion baht, the company said yesterday.

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