Reuters: Hot Stocks: STOCKS NEWS THAILAND-TMB Bank falls after Siam denies talks

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STOCKS NEWS THAILAND-TMB Bank falls after Siam denies talks Jun 19th 2012, 04:56 Tue Jun 19, 2012 12:56am EDT Shares in TMB Bank Pcl edged lower, underperforming other banking shares and the broader stock market, after Siam Commercial Bank Pcl denied a news report that it was negotiating for a possible merger with TMB. TMB Bank shares were down 0.6 percent at 1.55 baht, with about 173 million shares traded, 1.88 times the average volume over the last 30 sessions. The bank subindex was up 1.1 percent and the main SET index was up 0.5 percent. Shares in Siam Commercial Bank gained 0.7 percent to 142.5 baht. The finance ministry was seeking to sell its 26 percent stake in TMB to Siam Commercial Bank, likely in a share swap deal, Kao-hoon newspaper quoted a ministry source as saying. For the statement, click 1152 (0452 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:46 STOCKS NEWS THAILAND: DBS cuts Banpu target price to 600 baht DBS Vickers Securities cut its target price on shares of Thailand's biggest coal miner Banpu Pcl BANP.BK to 600 baht from 700 baht, reflecting the impact of weak coal prices on the company's 2012 earnings. The broker kept its 'buy' rating on the stock. Banpu shares fell 0.4 percent to 462 baht in morning trade. The stock had fallen about 23 percent so far in the April-June quarter along with the weakness in coal prices. About 15 percent of the company's coal sales volume was not covered by fixed price contract and price hedging, the broker said in a report. "Overall, the impact on Banpu's 2012 earnings will be limited ... We expect demand to recover in a hot season because China will need coal for power production," it said. 1032 (0332 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.47 baht) Link this Share this Digg this Email Reprints

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