BLBG:Indonesia Stocks: Energi Mega Persada, International Nickel
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the noon Jakarta-time break.
The Jakarta Composite index (JCI) retreated 55.10 points, or 1.3 percent, to 4,122.75, set for its biggest slide since July 12.
Metal producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, declined 2.4 percent to 4,100 rupiah, on course for the sharpest drop since March 10. PT Timah (TINS IJ), Indonesia’s biggest tin producer, sank 3.1 percent to 2,350 rupiah.
Nickel futures fell 1.1 percent to $24,520 a metric ton in London, erasing yesterday’s 1 percent gain. Tin lost 3 percent to $27,250 a ton yesterday, the sharpest drop since June 2. The contract was last traded at $27,200 a ton.
PT Energi Mega Persada (ENRG IJ), the nation’s second- largest listed oil company, plunged 5.8 percent to 245 rupiah, set for the steepest decline since Nov. 30. Crude oil futures fell for a fourth day, its longest losing streak since May, losing as much as 0.7 percent to $93.10 a barrel in after-hours trading in New York.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net