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Indonesian Equity Movers: Bumi Minerals, Dian Swastatika, Vale

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June 22 (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 fell 0.3 percent to 3,889.52, paring this week’s gain to 1.9 percent, the biggest weekly advance since March.

PT Bumi Resources Minerals (BRMS IJ), a mining company, rose 8.3 percent to 455 rupiah, the largest jump since March 1. The shares gained on speculation the company will be acquired by a group of investors that include businessman Rachmat Gobel, according to Hariyanto Wijaya, an analyst at PT Mandiri Sekuritas in Jakarta. The rumor isn’t true, said Dileep Srivastava, a director at PT Bumi Resources, which owns the company.

PT Dian Swastatika Sentosa (DSSA IJ), a power producer, rose 7.7 percent to 14,000 rupiah, the most since May 22, after Kontan reported the company increased its spending target on capital expenditure this year to $120 million from $80 million as it plans to build a steam power plant in South Sumatra province. Corporate Secretary Hermawan Tarjono couldn’t be reached when called at his office.

PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s largest gas distributor, advanced 3 percent to 3,475 rupiah after it said it will meet gas-supply commitments for industrial users in East Java province.

PT Vale Indonesia (INCO IJ), the nation’s biggest nickel producer, fell 4.8 percent to 2,500 rupiah, the sharpest drop since June 1. The stock fell after commodity prices declined, said Ananita Mieke Kusumaningsih, an analyst at PT Danareksa Sekuritas. Nickel futures in London lost 4.4 percent to $16,450 a metric ton yesterday, the steepest drop since April 16.

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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