London Sumatra, Medco Energi, Elnusa: Indonesian Equity Preview

Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index dropped 1 percent to 3,940.11.

Energy related companies: Crude oil for June delivery rose for the first time in seven days, gaining 1.2 percent to $92.57 a barrel in New York yesterday. The contract was last at $92.63 in after-hours trading. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 2 percent to 1,920 rupiah and PT Elnusa (ELSA IJ), an oil services company, lost 3.4 percent to 198 rupiah.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ): The palm oil and rubber producer plans to spend 800 billion rupiah ($86 million) to 900 billion rupiah on capital expenditure this year compared with 400 billion rupiah last year, Bisnis Indonesia reported, citing Corporate Secretary Endah R. Madnawidjaja. The company plans to plant 5,000 hectares this year compared with 2,000 hectares last year, the report said. London Sumatra advanced 3.2 percent to 2,425 rupiah.

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