Indonesian Stocks: London Sumatra, Royal Oak, United Tractors
The Jakarta Composite index rose 0.5 percent to 4,181.07, the first increase in three days.
Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s biggest listed plantation company by market value, gained 1.7 percent to 21,500 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) , the third largest, advanced 2 percent to 2,575 rupiah, gaining for the first time in seven days. Palm oil futures rose for a second day, adding as much as 0.8 percent to 3,388 ringgit ($1,109) a metric ton in Kuala Lumpur.
PT Atlas Resources (ARII) , an Indonesian coal producer, increased 2.9 percent to 1,420 rupiah, the biggest gain since April 20. Atlas plans to raise about 1 trillion rupiah ($108 million) from a bond sale to refinance debt and for working capital, Bisnis Indonesia reported, citing Dono Boestami, finance director at the company. Boestami couldn’t be reached when called at his office.
PT Royal Oak Development Asia (RODA) , a property developer, rose 1.3 percent to 390 rupiah, the highest close since April 8, 2002. Royal Oak plans to acquire a property project for about 100 billion rupiah in the first half of 2012, its 10th acquisition since last year, Bisnis Indonesia reported, citing Silvana, a director at the company. Silvana couldn’t be reached when called at her office.
PT United Tractors (UNTR) , Indonesia’s largest heavy equipment seller, declined 3.3 percent to 27,500 rupiah, the sharpest drop since April 4. CIMB Group Holdings Bhd. downgraded the stock from neutral to underperform, meaning its total return is expected to be below a relevant benchmark’s total return by 5% or more over the next 12 months.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com MEDC IJ <Equity> ENRG IJ <Equity> ARII IJ <Equity> AALI IJ <Equity> LSIP IJ <Equity> RODA IJ <Equity> UNTR IJ <Equity>