Indonesia Stock: Adaro Energy, First Media, London Sumatra
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the noon Jakarta-time break.
The Jakarta Composite index (JCI) retreated 8.7 points, or 0.3 percent, to 3,510.15, the first decline in three days.
Palm oil producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s second-largest listed plantation company by market value, fell 1.1 percent to 2,200 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ) declined 1.4 percent to 350 rupiah.
Palm oil for June delivery dropped as much as 1.7 percent to 3,363 ringgit ($1,109) a metric ton in Kuala Lumpur, falling for a second day.
PT Adaro Energy (ADRO IJ), Indonesia’s second-largest coal producer, dropped 4.3 percent to 2,225 rupiah, on course for the lowest close since Nov. 4, after CIMB-GK Securities Pte reduced the stock to “trading sell” from “outperform.”
PT First Media (KBLV IJ), an Indonesian cable-television provider, jumped 19 percent to 1,000 rupiah, set for the biggest increase since Jan. 18. First Media said CVC Capital Partners Asia Pacific agreed to invest 2.35 trillion rupiah ($270 million) in the company and its unit.
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