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11/24/11

Prediction of coal prices in the doldrums, stocks and ADRO eroded EARTH?

JAKARTA. Shares of coal producers this morning hit by a sell.Take the example of PT Bumi Resources (EARTH) and PTAdaro Energy (ADRO).


At 10.38, the stock plummeted EARTH 4.10% to Rp 1990. A number of brokers who sell its stake, among many others: OSKSecurities Nusadana worth Rp 13.63 billion, Woori KorindoSecurities valued at USD 2.85 billion, and Mandiri Securitiesvalued at USD 2.64 billion.

While stocks fell 2.62% recorded ADRO to $ 2850. Threebrokers who sell the most of this stock is PT Kim Eng Securitiesvalued at USD 3.37 billion, Deutsche Securities valued at USD2.35 billion, and AmCapital Indonesia valued at USD 2.27 billion.

Allegedly, the decline in stock prices follows a two-waymovement of world coal prices. Based on the estimate of sixanalysts surveyed by Bloomberg, the benchmark contract price ofcoal port of Newcastle in Australia is predicted at U.S. $ 118 permetric ton next year. In fact, in 2011, the average price of coalreached U.S. $ 122.

source:detik.com
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