Reuters: Hot Stocks: STOCKS NEWS THAILAND-BEC World drops back; broker blames trading glitch

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STOCKS NEWS THAILAND-BEC World drops back; broker blames trading glitch Oct 1st 2012, 03:55 Sun Sep 30, 2012 11:55pm EDT Shares in broadcaster BEC World Pcl fell as much as 20 percent after shooting up nearly 30 percent in the previous session, which a broker said was probably caused by transaction errors. BEC shares were down 19.3 percent at 61.75 baht after Friday's 29.7 percent surge to 76.5 baht. The media subindex fell 11.96 percent while the broader SET index edged down 0.09 percent. "We think that (Friday's surge in BEC) might involve transaction errors. We have talked to BEC and found that there's no significant change to the company's fundamentals," broker Kiatnakin Securities said in a report. The broker said BEC's fair value was 47.6 baht and rated the stock a 'sell'. 1043 (0343 GMT) (Reporting by Viparat Jantraprap in Bangkok; editing by Alan Raybould; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:16 STOCKS NEWS THAILAND-Banpu shares up; sees no need for provisions after court case Shares in Banpu Pcl BANP.BK, Thailand's biggest listed coal miner, edged up after it said it would not set provisions for damages that might have to be paid to former partners in the Hongsa power project in Laos after a recent court ruling. Banpu was up 0.8 percent at 395 baht versus a 0.03 percent gain in the energy subindex .SETEN and a 0.14 percent loss in the broader SET index .SETI. The stock had fallen 11.3 percent from Sept. 20 to Friday, when the company told the stock exchange about the Thai court's ruling that Banpu should pay about $1 billion in damages. "The company is confident that it has strong factual and legal grounds for an appeal. For these reasons, the company and its subsidiary have no need to set provisions in their financial statements for damages," it told the exchange. Many analysts have downgraded Banpu shares as the damages were expected to affect its earnings and a profit contribution from the Hongsa project would be lost due to a prolonged delay. For the company statement and related stories, click (Full Story) (Full Story) 1007 (0307 GMT) (Reporting by Viparat Jantraprap in Bangkok; editing by Alan Raybould; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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