Thailand Stocks: Bangchak Petroleum, Charoen Pokphand, PTT
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index rose for a second day, climbing 19.76, or 2 percent, to 1,033.26, the biggest gain since May 9.
Oil companies: PTT Pcl (PTT) , Thailand’s biggest energy company, increased 2.8 percent to 333 baht, the steepest advance since May 9. PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil explorer, added 1.2 percent to 168 baht.
Crude rose for a second day in New York, extending the biggest gain in six weeks, on speculation U.S. crude inventories declined and steps by Greece’s government to prevent a default will bolster Europe’s economy.
Bangchak Petroleum Pcl (BCP) , a Thai oil refiner, jumped 4.7 percent to 20.10 baht, the biggest gain since June 17. Bangchak has increased sales of fuel oil to the Electricity Generating Authority of Thailand to offset a decline in supplies of natural gas following a pipeline leak, Kao Hoon reported. Bangchak has reduced exports of fuel oil and diverted shipments to the state power producer, the newspaper said, citing the company’s President Anusorn Sangnimnuan. Anusorn was not available for comment when called at his office.
Charoen Pokphand Foods Pcl (CPF) , the biggest meat producer, rose 2.6 percent to 29.25 baht. The company was rated “outperform” in new coverage at Credit Suisse Group AG, which said the company’s profit margin may widen on higher meat prices and lower raw material costs.
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