Indonesian Stock Movers: Bank Danamon, Bank Tabungan Pensiunan

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 rose 0.4 percent to 4,096.20, the highest close since May 11.

PT Bank Danamon Indonesia (BDMN IJ), a takeover target of Singapore’s DBS Group Holdings Ltd., rose 1.6 percent to 6,300 rupiah, the highest close since April 26. Bank Indonesia issued regulations that may allow DBS to proceed with the planned purchase. The shares also rose after Danamon said yesterday first-half net income gained 36 percent from a year earlier to 2 trillion rupiah ($211 million).

PT Bank Tabungan Pensiunan Nasional (BTPN IJ), which provides loans to retirees, climbed 1.8 percent to 4,200 rupiah, a record close, after it said it plans to sell 1.25 trillion rupiah of bonds this month to boost lending.

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