Indonesian Stocks: Akasha Wira, Bumi, Medco, Perusahaan Gas
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the 4 p.m. close in Jakarta.
The Jakarta Composite Index (JCI) rose 0.1 percent to 4,133.63.
Energy companies: Crude futures fell for a seventh day, set for the longest losing streak since December 2009. Oil dropped as much as 0.5 percent to $96.29 a barrel in New York.
PT Energi Mega Persada (ENRG) , Indonesia’s second- biggest listed oil company, declined 1.1 percent to 182 rupiah. PT Bumi Resources (BUMI) , Asia’s biggest exporter of power- station coal, retreated 1.1 percent to 1,860 rupiah, the lowest close since Oct. 5.
PT Akasha Wira International (ADES) , a producer of bottled drinking water, jumped 12 percent to 1,490 rupiah, extending yesterday’s 24 percent rally. Net income more than tripled to 13.45 billion rupiah ($1.45 million) from 3.54 billion rupiah a year earlier, the company said after the market closed on May 8.
PT Lippo Karawaci (LPKR) , a property developer, dropped 1.2 percent to 800 rupiah. The company sold $150 million of 7 percent notes due May 2019, according to data compiled by Bloomberg. The bonds were issued at 99.32 cents on the dollar, the data show.
PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, climbed 1.2 percent to 2,125 rupiah. Medco will form a group with PT Perusahaan Gas Negara (PGAS) , Indonesia’s biggest gas distributor, and PT Pupuk Sriwijaya to buy a stake in a gas block in Aceh province previously operated by Exxon Mobil Corp., Medco President Director Lukman Mahfoedz said. Gas Negara gained 1.4 percent to 3,700 rupiah.
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