Indonesia Stock Movers: Aneka, Gajah Tunggal, Mitra Adiperkasa
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. Jakarta-time close.
The Jakarta Composite index (JCI) declined 29.43 points, or 0.8 percent, to 3,808.71, falling for the first time in three days.
Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, retreated 1.5 percent to 4,850 rupiah. PT Aneka Tambang (ANTM IJ), the second biggest, fell 1.1 percent to 2,225 rupiah. Nickel for three- month delivery fell as much as 3.1 percent to $23,791 a metric ton in London, extending yesterday’s 1.2 percent slide.
PT Gajah Tunggal (GJTL IJ), Indonesia’s biggest tire producer, jumped 8 percent to 2,875 rupiah, the highest close since at least August 1991. PT Kresna Graha Sekurindo said in a report today that the tire producer expects 2011 revenue to gain 25 percent from a year earlier to 12.3 trillion rupiah ($1.4 billion). Catharina Widjaja, a director at the company, couldn’t be reached when called at her office.
PT Mitra Adiperkasa (MAPI IJ), the retailer that runs Starbucks Corp. coffee shops, rose 4.3 percent to 3,650 rupiah, closing at a record. CLSA Asia-Pacific Markets in a note yesterday raised the share-price estimate to 3,900 rupiah from 3,300 rupiah citing the company’s better-than-expected first- quarter results.
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