Thailand Stocks: Jubilee, Thai Union, Univanich, United Palm
The SET Index (SET) rose 1 percent to 1,211.07, the highest level since July 1996.
Palm oil futures gained as much as 0.9 percent to 3,566 ringgit ($1,171) a ton on the Malaysia Derivatives Exchange, the highest price for the most-active contract since March 9, 2011.
Jubilee Enterprise Pcl (JUBILE) , a jewelry retailer, jumped 9.1 percent to 14.40 baht, a record close. The company was upgraded to buy from hold by Jaroonpan Wattanawong and Maria Lapiz, analysts at Maybank Kim Eng Securities (Thailand) Pcl.
Thai Union Frozen Products Pcl (TUF) , Thailand’s largest seafood exporter, climbed 3.4 percent to 76.75 baht, a record close. Tuna prices will continue to rise after reaching an all- time high in March, Prasit Sujiravorakul, an analyst at Bualuang Securities Pcl, wrote in a report today. Rising tuna prices will boost Thai Union’s profit margins, the analyst said.
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