RTRS:Thai Hot Stocks-Index retreats; Bangkok Aviation, Esso Thailand
(Updates index at midsession; stock moves)
BANGKOK, May 12 (Reuters) - Thailand's benchmark stock index
was down 0.3 percent at 1,097.15 at the midsession break
on Thursday in turnover of 17.48 billion baht ($580 million),
with big-cap energy and banking stocks falling
back after recent gains.
Stocks on the move:
BANGKOK AVIATION FUEL SERVICES HITS ALL-TIME HIGH
Shares in the jet fuel firm gained as much as 7 percent to a
record high of 12.2 baht after it told the exchange its
first-quarter net profit rose by half in line with the recovery
in tourism and airline industries. [ID:nSET3rvJ2H]
The company's earnings outlook for the second and third
quarters is weaker due to seasonal low demand in the local
airline sector, analysts said.
At 0538 GMT, the stock was up 4.4 percent at 11.9 baht.
ESSO (THAILAND) AT RECORD HIGH
The unit of Exxon Mobil shot up 15.3 percent to a
record high of 13.6 baht, after it told the exchange its first
quarter net profit was almost 13 times higher than a year
before. [ID:nSET8tRJVV]
Broker Kasikorn Securities said it had raised its rating on
the stock to 'buy'.
"We revise up our forecast on ESSO to reflect the
better-than-expected paraxylene price and raise our fair price
from 11 baht to 14.4 baht. As the current share price provides
22 percent upside to our new fair price, we thus upgrade our
recommendation from outperform to buy."
At 0538 GMT, Esso shares were up 13.56 percent at 13.4 baht.
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(Reporting by Viparat Jantraprap; Editing by Alan Raybould)