Indonesian Stock Movers: Adaro Energy, Bank Rakyat, Berau Coal
The Jakarta Composite Index (JCI) rose 0.3 percent to 4,090.57. The gauge has risen 7 percent this quarter.
PT Adaro Energy (ADRO) , Indonesia’s second-largest coal producer, rose 2.1 percent to 1,930 rupiah, the steepest gain since March 2. The company said its 2011 net income more than doubled to $550 million, from $247 million a year earlier, beating the mean estimate of $506.5 million in a Bloomberg News survey of 29 analysts.
PT Bank Rakyat Indonesia (BBRI) , the nation’s second- largest bank by market value, rose 1.5 percent to 6,900 rupiah. Bank Rakyat has allocated 1 trillion rupiah ($109 million) to buy a brokerage in the third quarter of this year, President Director Sofyan Basir said.
PT Berau Coal Energy (BRAU) , a coal producer, jumped 7.8 percent to 550 rupiah, the highest close since Aug. 18. The company’s 2011 net income surged to $133.9 million, from $49.7 million a year earlier, it said in a statement yesterday.
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