Bloomberg Indonesia Stocks: Bank Danamon, Bumi Resources, Krakatau Steel

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. local-time close.

The Jakarta Composite index advanced 12.92 points, or 0.4 percent, to 3,548.65.

PT Bumi Resources (BUMI IJ), Indonesia’s biggest coal producer, gained 3.3 percent to 3,150 rupiah. PT Adaro Energy (ADRO IJ), the second largest, climbed 3.9 percent to 2,675 rupiah. The companies were rated “buy” in new coverage at Nomura Holdings Inc., which said it was “bullish” on the nation’s coal mining industry given the outlook for demand globally and in the domestic power industry.

PT Bank Danamon Indonesia (BDMN IJ), owned by Singapore’s Temasek Holdings Pte and Deutsche Bank AG, jumped 11 percent to 5,950 rupiah, the steepest increase since May 19, 2009. The shares rose amid speculation DBS Holdings Ltd. will buy a stake in the lender, according to Teguh Hartanto, an analyst at PT Bahana Securities. So far there’s no plan for a change in the bank’s ownership, Danamon Finance Director Vera Eve Lim said in a mobile-phone text message.

PT Krakatau Steel (KRAS IJ), Indonesia’s largest maker of the metal, rose 0.9 percent to 1,170 rupiah. Krakatau expects revenue to rise to as much as 21 trillion rupiah ($2.3 billion) this year from an estimated 18 trillion to 19 trillion rupiah last year, Bisnis Indonesia reported, citing Irvan Kamal Hakim marketing director at the state-owned company. Hakim couldn’t be reached when called at his office in Cilegon, Banten province.

To contact the reporter on this story: Berni Moestafa in Jakarta