Thailand Stocks: PTT Exploration, Siam City Cement, Thai Air
The SET Index (SET) rose 1.4 percent to 1,125.78, snapping a four-day slide.
PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, gained 3.6 percent to 157 baht, the most since Jan. 4. PTT Exploration, which raised its offer for Cove Energy Plc to 1.22 billion pounds yesterday, will receive debt financing of about $1 billion from UBS AG, according to a person familiar with the matter. UBS has agreed to underwrite the loan and will syndicate it to other banks, the person said, asking not to be identified because the details are private.
Siam Cement Pcl (SCC) , the country’s largest cement producer, climbed 1.9 percent to 331 baht, the most since April 26. The company will invest about 1.25 billion baht ($39.6 million) to build a new plant in West Java, Indonesia, it said in a regulatory filing. The plant will produce a lightweight concrete block to serve the “vibrant construction sector” in Indonesia, according to the statement.
Siam City Cement Pcl (SCCC) , the nation’s second-largest cement producer, advanced 3.5 percent to 296 baht, the steepest increase since Feb. 8. The company was upgraded to outperform, the equivalent of buy, from neutral by David Gambrill, an analyst at Macquarie Group Ltd., who said Thailand’s construction activity is set to accelerate.
Thai Airways International Pcl (THAI) , the nation’s biggest carrier, jumped 5.5 percent to 21.3 baht on speculation lower oil prices will cut its fuel costs. Oil yesterday slid 2.1 percent to $89.90 a barrel in New York, the lowest close since Oct. 21.
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