Indonesia Stocks: Barito Pacific, Bumi Minerals, Medco Energi
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. Jakarta-time break.
The Jakarta Composite index (JCI) fell 1 percent to 3,756.14, set for a second day of losses. The gauge has dropped 0.6 percent this week, bound for a third straight weekly decline.
Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 2.1 percent to 2,350 rupiah. PT Energi Mega Persada (ENRG IJ), the second- largest, declined 1.2 percent to 159 rupiah. Crude oil futures slumped 3.7 percent to $98.82 a barrel in New York yesterday, and last traded at $98.60 a barrel.
PT Barito Pacific (BRPT IJ), a petrochemical producer, rose 2.5 percent to 830 rupiah. Barito has set aside $50 million to acquire coal mines and other assets as it seeks to diversify its business, Kontan reported, citing Agustino Sudjono, head of investor relations. Sudjono couldn’t be reached when called at his office.
PT Bumi Resources Minerals (BRMS IJ), a unit of Indonesia’s largest coal producer, PT Bumi Resources, rose 3.4 percent to 610 rupiah. PT Dairi Prima Mineral, in which Bumi Minerals owns an 80 percent stake, obtained a permit for underground mining works at its Dairi zinc and lead project in North Sumatra province, Bumi Minerals said in an e-mailed statement today.
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