Indonesian Stock Movers: Ace Hardware, Medco Energi, Ramayana
The Jakarta Composite Index (JCI) rose 0.4 percent to 4,121.55, the highest close since Aug. 4. The gauge gained 3.4 percent this month and 7.8 percent this quarter.
Energy companies: PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, dropped 2.3 percent to 2,150 rupiah. PT Elnusa (ELSA) , an oil services company, fell 2.1 percent to 230 rupiah. Crude oil futures declined to a six- week low, losing 2.5 percent to $102.78 a barrel in New York yesterday. Oil was last at $103.16.
PT Ace Hardware Indonesia (ACES) , a retailer of home- improvement products, rose 4.7 percent to 4,450 rupiah, the biggest increase since March 2. Ace’s 2011 net income rose to 285 billion rupiah ($31 million), beating the mean estimate of 252 billion rupiah in a Bloomberg News survey of eight analysts.
PT Ramayana Lestari Sentosa (RALS) , a department store operator, fell 2.5 percent to 780 rupiah, the sharpest drop since March 19. Ramayana reported its 2011 net income rose to 378 billion rupiah, missing the mean estimate of 397 billion rupiah in a Bloomberg News survey of 11 analysts.
PT Unilever Indonesia (UNVR) , the nation’s largest detergent maker, rose 2.3 percent to 20,000 rupiah, the most since March 16. The company’s 2011 net income rose to 4.16 trillion rupiah, beating the mean estimate of 3.99 trillion rupiah in a Bloomberg News survey of 18 analysts.
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