Indonesia Stocks: Bank Permata, Media Nusantara Citra, Timah
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. local-time close in Jakarta.
The Jakarta Composite index climbed 12.91 points, or 0.4 percent, to 3,514.62, advancing for a third straight day.
PT Bank Permata (BNLI IJ), which is partly owned by Indonesia’s biggest auto retailer, PT Astra International, rose 2.5 percent to 1,670 rupiah. Permata sold this month a 31 percent stake in the Indonesian affiliate of Nipponkoa Insurance Co. for 67.4 billion rupiah ($7.5 million) to focus on its banking business, the lender said.
PT Media Nusantara Citra (MNCN IJ), a television broadcasting company, advanced 2.2 percent to 920 rupiah. Media Nusantara’s 2010 net income rose 94 percent from a year earlier to 748 billion rupiah bolstered by growth in ad revenue, it said.
PT Timah (TINS IJ), Indonesia’s biggest tin producer, jumped 4.6 percent to 2,825 rupiah, the steepest increase since Oct. 13. Tin for three-month delivery rose to a record, gaining 1.5 percent to $28,625 a metric ton in London yesterday. The contract traded at $28,720 a ton today.
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