Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Index up, positive on Obama re-election

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS INDONESIA-Index up, positive on Obama re-election Nov 7th 2012, 06:46 Wed Nov 7, 2012 1:46am EST Indonesians shares gained on Wednesday after Barack Obama's re-election as U.S. President sparked hopes of sustained economic stimulus. The Jakarta Composite Index rose 0.65 percent to 4,341 points. "With the re-election, Fed's monetary policy won't change and the economic stimulus would be sustained. This led to the market rally," said Ernawan Rahmat Salimsyah, head of equity at Indo Premier Investment Management. Banking, automobile and construction material stocks were leading the rally. 1337 (0637 GMT) (Reporting by Andjarsari Paramaditha in Jakarta, Editing by Anand Basu) **************************************************************** 12:54 STOCKS NEWS INDONESIA-Citi says Q3 result solid from property, banks Citi Research said net profit for Indonesian companies it covers rose 22 percent in the third quarter from a year earlier, boosted by the strong performance of property and banking sectors, while the commodity sector lagged. The property sector was outstanding with a 75 percent growth in net profit year-on-year, while banks grew 24 percent for the third quarter. However, the research house said the performance of the commodity sector was below expectations. "While we expect to see further deterioration in 4Q12 for the coal mining sector, plantation stocks could see upside risk," said Ferry Wong, the Jakarta-based head of Citi equity research. The research house retained its positive view on Indonesia's equity market, with a target of 5,000 for the Jakarta stock index by end of the next year. It prefers bank, property, consumer and infrastructure sectors. Citi's top picks are state lenders Bank Mandiri and Bank Negara Indonesia, toll road operator Jasa Marga , property developer Alam Sutera and poultry breeder Charoen Pokphand Indonesia. The broader index was up 0.50 percent. 1225 (0525 GMT) (Reporting by Andjarsari Paramaditha,; Editing by Jijo Jacob) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions