Thailand Stocks: BEC, Precious Shipping, Robinson, Thai Airways
The SET Index rose 1.6 percent to 1,189.56, the highest close since July 1996. The gauge climbed 2.7 percent this week, the biggest weekly advance in three months.
Bulk shipping companies: Precious Shipping Pcl (PSL) , Thailand’s biggest operator of commodity carriers, increased 1.2 percent to 16.30 baht, the steepest advance since Feb. 29. Thoresen Thai Agencies Pcl (TTA) added 1.5 percent to 20.2 baht.
The Baltic Dry Index, a measure of shipping costs for dry- bulk commodities, climbed 1.3 percent yesterday, its 16th day of gains, according to the Baltic Exchange in London. That’s the highest level since Jan. 19.
BEC World Pcl (BEC) , Thailand’s biggest television broadcaster, jumped 5.2 percent to a record 51 baht. Investors are speculating the company’s advertising revenue will increase in 2012 as domestic spending rebounds in Thailand and it broadcasts the Euro 2012 soccer tournament, Jitra Amornthum, head of research at Finansia Syrus Securities Pcl, said by phone today. Chatchai Thiamtong, BEC World’s chief financial officer, wasn’t immediately available for comment when called at his office.
City Steel Pcl (CITY) , a producer of steel products, surged 13 percent to 2.34 baht, the highest close since June 2008. Net income in the second quarter climbed 80 percent from a year earlier to 39.8 million baht ($1.3 million).
Robinson Department Store Pcl (ROBINS) , a department store operator, gained 3 percent to 51.25 baht, the highest close since Nov. 1996. The company plans to invest 2.8 billion baht in 2012 to build three new stores, the English-language Bangkok Post reported, citing Jiraphan Thongton, the company’s general manager for finance. Jiraphan was not immediately available for comment after a call to the office.
Thai Airways International Pcl (THAI) , the country’s largest carrier, advanced 2.4 percent to 25.50 baht. The carrier filled 79 percent of its passenger seats in February, compared with 77.6 percent in the same period last year, it said in a statement today.
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