Indonesian Stock Movers: Agung Podomoro, Medco Energi, Ramayana
The Jakarta Composite Index (JCI) rose 0.6 percent to 4,070.67, heading for a third day of gains.
PT Agung Podomoro Land (APLN) , a property developer, advanced 1.5 percent to 350 rupiah after it said it plans to sell 800 billion rupiah ($84 million) of five-year bonds next month to fund expansions.
PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, advanced 1.7 percent to 1,770 rupiah. Crude-oil futures rose 1.5 percent to $88.43 a barrel in New York yesterday, gaining for a fourth day in the longest winning streak since a six-day rally ended April 27. Oil was at $88.51 in after-hours trading.
PT Ramayana Lestari Sentosa (RALS) , a retailer, gained 4.5 percent to 1,170 rupiah, bound for a record close. The company’s first-half revenue increased to 3.07 trillion rupiah, exceeding its target of 2.95 trillion rupiah, Bisnis Indonesia reported, citing Setyadi Surya, a director at Ramayana. Surya hasn’t replied to a mobile-phone text message seeking confirmation.
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