Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Kamis, 08 September 2011

Pengadilan Jerman Angkat Wall Street - Inilah

Keputusan pengadilan Jerman yang mendukung partisipasi dalam bailout Yunani telah mendorong bursa saham Wall Street pada perdagangan Rabu (7/9).

Indeks Dow Jones naik 1,55 ke 11.312, indeks Nasdaq naik 1,8% ke 2.519 dan indeks S&P naik 1,8% ke 1.186. Dow naik setelah mendapat dukungan dari saham Bank of America yang naik 4,7% dan saham Alcoa naik 3,1% setelah melemah hingga tiga hari, yang dikutip dari

indeks S&P naik didukung saham sektor energi dan keuangan. Kenaikan ini mendapat tenaga segar dari keputusan pengadilan Jerman yang mendukung pemberian bailout yang dilakukan pemerintah untuk Yunani dan anggota Uni Eropa.

Keputusan ini juga telah menguatkan bursa saham Eropa untuk melanjutkan reli. Dukungan secara hukum terhadap bailout Jerman telah merontokkan penolakkan dari pihak Eurosceptist selama ini.

Bank of America menguat setelah melakukan perombangan terhadap staff setelah ditinggalkan Joe Harga selaku kepala konsumen perbankan dan Sallie Krawcheck selakuk kepala wealth global dan manajemen investasi.

Sedangkan saham ConocoPhillips naik 1,8% stelah meminta maaf dengan tumpahan minyak di China Utara. Perseroan akan menanggung biaya untuk membersihkan tumpahan tersebut.

Wall Street jumps as Europe debt concerns ease - Reuters

(Reuters) - Wall Street bounced more than 2 percent on Wednesday, reversing three days of losses after Germany's top court smoothed the way for Berlin's participation in bailouts that could ease Europe's debt crisis.

But investor caution that there remains a long road to recovery was underscored by light trading and continued high volatility as shown in the CBOE VIX volatility index .VIX.

In almost a mirror image of the previous session, financial stocks rebounded sharply, with the KBW Bank Index .BKX up nearly 6 percent. Bank of America Corp (BAC.N) jumped 7 percent, helped by a management shake-up.

European stocks rallied off a two-year low after the German court rejected lawsuits aimed at blocking the country from joining efforts to aid Greece and other nations. Germany's DAX .DAX index leapt more than 4 percent.

Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey, cautioned that although valuations are more attractive after a 12 percent decline in the S&P 500 index since April, uncertainty over the festering European debt crisis and the path of the U.S. economy will continue to dog Wall Street.

"This is just another step in a long road," he said. "We'd really like to see some improvement in some of the data, and we're just not there yet."

The Dow Jones industrial average .DJI gained 275.56 points, or 2.47 percent, to 11,414.86. The Standard & Poor's 500 Index .SPX rose 33.38 points, or 2.86 percent, to 1,198.62. The Nasdaq Composite Index .IXIC added 75.11 points, or 3.04 percent, to 2,548.94.

Volume was just 7 billion shares on the NYSE, Amex and Nasdaq, among its lightest readings over the last month and well below last year's average of 7.56 billion.

Bank of America (BAC.N) rose 7 percent to $7.48 and was the top percentage gainer on the Dow after the heads of its consumer banking and global wealth and investment management units left. Bank of America has lost almost half of its market value this year.

"The financials have been pounded mercilessly, and we're starting to get a real bid under their valuation," said Howard Ward, chief investment officer at GAMCO Growth in Rye, New York. "That's a huge positive."

The CBOE Volatility index .VIX fell 9.6 percent after spiking 9 percent on Tuesday but still remained over 30, a level often seen as a warning sign for equity markets. The index usually moves inversely to the S&P 500.

"The complete impetus for this rally was the severe oversold condition that had emerged over the previous three days of heavy selling," said Larry McMillan, president of McMillan Analysis Corp in a report.

"The indicators are mixed, and volatility remains high -- correctly warning of the dangers of this market," he said.

The total put-to-call ratio for all listed options finished at 0.91 on Wednesday, below the 22-day moving average of 1.15, according to option analytics firm Trade Alert. The ratio is the lowest level in one month when the ratio is adjusted for ex-dividend trading in call options.

"Many consider a high put-to-call ratio to be a sign of a market bottom. So today's reading could be interpreted as a sign of a market top," said Trade Alert president Henry Schwartz.

Shares of energy companies, a sector closely tied to economic growth, were also higher. The S&P energy index .GSPE rose 3.7 percent while the price of U.S. crude rose $3 to a five-week high Wednesday,

Yahoo Inc (YHOO.O) shares gained 5.4 percent to $13.61 after its chairman, Roy Bostock, abruptly fired Chief Executive Carol Bartz on Tuesday, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba.

Darden Restaurants Inc (DRI.N) was the biggest loser on the S&P 500, falling 3.6 percent to $44.54 a day after the operator of the Red Lobster and Olive Garden restaurant chains warned that Hurricane Irene hurt its fiscal first-quarter earnings.

Nvidia Corp (NVDA.O) climbed 8.1 percent to $14.25 a day after the chipmaker forecast 2013 sales that topped market expectations.

About 88 percent of stocks traded on the New York Stock Exchange were in positive territory, while 83 percent of stocks on the Nasdaq rose.

China kicks off winter coal shopping, Indonesia wins - Reuters

Chinese coal buyers have re-emerged in the sea-borne market after a nearly two-month lull and were snapping up Indonesian coal on expectations that domestic prices were poised to increase, industry sources said on Wednesday.

Several miners and traders said Chinese buyers were aggressively buying Indonesian coal with heating value of about 4,800 kcal/kg (NAR) and paying between $87-$89 a tonne on a landed basis, up some $4 from late August.

"They are very aggressive in bidding prices and are exceptionally eager to sign prompt and Q4 cargoes. But it's still unclear if this buying spree would continue until the end of the year," said a Indonesian coal supplier, who has already sold out his fourth-quarter shipments.

The return of Chinese buyers means the recent gains in Indonesian sub-bituminous prices would accelerate over the coming weeks, as Indian buyers have already stepped up on enquiries ahead of the end of the monsoon season in around mid-September.

Buyers said a planned 20-day maintenance of the key Daqin railway, one of the main rails transporting coal from Shanxi, Shaanxi and Western Mongolia to Qinhuangdao port, later this month was one of the triggers that have prompted them to stock up on inventories earlier than usual.

Narrowing price declines in the key Bohai Bay Rim steam coal index over the past two weeks were also interpreted as a sign that domestic prices were at a turning point.

Their eagerness to procure was also bolstered by expectations that Indonesian prices would start to rise once the wet season hits, while supplies from Australia and South Africa could also be buoyed by returning Japanese demand and higher demand in parts of Europe.

"Utilities traditionally start winter shopping in October, but now the buying pattern has changed. Everyone is rushing to be the first buyer," Sun Xuefeng, a manager at Sinosteel Raw Materials, told the IHS-McCloskey conference on Wednesday.
"The thinking now is that first movers would have a price advantage."

Average weekly prices of coal with a heating value of 5,500 kcal/kg NAR fell 0.12 percent to 825 yuan a tonne last week.

Chinese buyers were generally showing tepid interest for standard Australian and South African material, citing high prices. However, some said they were in talks to buy some off-specification material, which typically has higher ash content.
Price bids for Australian off-spec material hover between $115-$117 a tonne CFR for those with heating value of 5,500 kcal/kg (NAR) -- a range in line with producer's expectations.

"The standard spec coal is too expensive at this point, especially with freight rates moving higher," said a trader from a state-owned producer and importer.
While a cape-sized prompt cargo of South African coal has been sold into China last week at $129.50 a tonne CFR, sources said the price was not reflective of buying sentiment and actual bids were several dollars lower.

"We're now waiting for freight rates to come down, which will help us move these cargoes. I don't think index prices will move down much," said a trader.
With domestic production growing at a rapid clip this year, three major Chinese buyers said it was unclear if domestic prices would rise strongly in winter, with slowing economic growth and energy saving measures also marring the near-term outlook.

An official from China Electricity Council said at the conference that power demand growth would slow in the second half as steel production cools, but added that hydropower generation remains a wild card which would tilt the supply balance and throw the country into another power crunch.

China's GDP growth in 2010 revised up to 10.4% yoy - Xinhua

BEIJING -- The growth rate of China's gross domestic product (GDP) in 2010 was modified up by 0.1 percentage point to 10.4 percent from a year earlier, the National Bureau of Statistics announced on Sept 7.

Crude Palm Oil At Two-Week High On Lower Output, Soy Crop - PalmOil HQ

Crude palm oil futures on Bursa Malaysia Derivatives extended gains Wednesday, as traders covered short positions due to concerns about U.S. soybean crop conditions, though expectations of slower export demand capped gains.

Benchmark November CPO settled at MYR3,042 a metric ton, up 1.9% from Tuesday's settlement, after rising 2.3% to MYR3,053/ton intraday, the highest since Aug. 24.

Lending support to the palm oil market are expectations of a drop in Malaysia's production that could reduce palm oil stock levels by 2%-3% to 1.93 million-1.95 million tons at the end of August, trade participants said.

Traders and planters said August output was likely 1.73 million tons compared with July's level of 1.75 million tons, as workers marked holidays during the Islamic fasting month, disrupting some harvesting rounds.

But the marginal fall in production will be temporary, as harvesting will gather pace this month, "when workers return to the estates," a planter in Johor said.

This could weigh on palm oil prices, which have dropped 22% since the beginning of the year, as rising output coincides with softening export demand, following months of strong outbound sales.

Exports could fall further in September, towards 1.40 million-1.50 million tons, as stocks at ports in major vegoil consuming countries, including China, are high, a trading executive in Singapore said.

Total palm oil stocks in Chinese ports reached 526,000 as of Sept. 6, a trading executive in Guangzhou said.

Still, bullish trade participants said the wide price gap of around $110-$140/ton between refined palm olein and crude soyoil could spur further buying interest over the next few days.

"Importers are purchasing the bare minimum where soyoil is concerned, as most have shifted to palm oil," said Vijay Mehta, a director at Singapore-based Commodity Link Pte. Ltd.

"Demand should pick up from next week, as more traders from Pakistan, Bangladesh and the Middle East return to the trading desk after the Eid holidays," Mehta said.

In the cash market, refined palm olein for January/February/March traded at $1,087.50/ton, free on board Malaysian ports, a Singapore-based broker said.

Cash CPO for prompt shipment was offered MYR40 higher at MYR3,150/ton.

Traded volume on the BMD reached 16,192 lots, compared with 22,974 lots Tuesday. One lot equals 25 tons.

Open interest was 133,068 contracts compared with 131,127 contracts Tuesday.

GJTL Lepas Saham di Polychem Indonesia Awal 2012 - Okezone

PT Gajah Tunggal Tbk (GJTL) menuturkan rencananya untuk menjual sahamnya di anak usahanya, yaitu PT Polychem Indonesia Tbk (ADMG) pada 2012 mendatang.

"Kita berencana untuk menjual saham ADMG karena kita menilai anak usaha tersebut tidak sesuai dengan core bisnis kita," ungkap Direktur GJTL Catharina Widjaja kala ditemui dalam paparan publik perseroan di Gedung BEI, Jakarta, Rabu (7/9/2011).

Saat ini, kepemilikan GJTL di ADMG mencapai 26,25 persen. dengan melepas kepemilikan sahamnya di ADMG. Dia menuturkan nilai pasar dari saham GJTL di ADMG sekarang ini adalah USD80 juta. Adapun dana hasil penjualan saham tersebut akan digunakan perseroan untuk pengembangan bisnis inti GJTL.

Tambahnya, mekanisme penjualan sama ini terdapat dua skema, pertama akan dilepas ke publik sebanyak satu hingga dua persen, sedangkan sisanya akan dilepas kepada strategic buyer.

"Saat ini kita sedang mencari partner strategis, mudah-mudahan tahun depan sudah dapat," pungkasnya.

Gajah Tunggal Pasok Ban untuk Pabrik Mobil Malaysia - Okezone

PT Gajah Tunggal Tbk (GJTL) akan memasok ban mobil untuk kebutuhan produsen mobil Malaysia, Proton, pada kuartal I-2012.

Direktur GJTL Chatarina Widjaja menuturkan saat ini pihaknya tengah melakukan negosiasi mengenai jumlah kebutuhan dan harga ban dalam rangka memenuhi kebutuhan pasokan Proton.

"Yang sudah pasti kita akan memasok ban mobil kepada Proton adalah sekira 3.000-4.000 ban mobil per bulan," ungkap Chatarina usai paparan publik perseroan di Jakarta, Rabu (7/9/2011).

Sekadar informasi, saat ini 50 persen produksi perseroan masih berada di domestik, sementara untuk ekspornya sudah mencapai sekira 37 persen dan sebesar 13 persen untuk memasok kebutuhan ban Original Equipment for Manufacturer (OEM) untuk kebutuhan produsen mobil atau motor.

Vallares merges with Genel Energy - Insider Stories

Just over 2 months after raising more than US$2.0 billion to invest in promising oil and gas projects in developing markets, Vallares Plc today announces that it plans to merge with Genel Energy International Ltd, the largest oil producer in the Kurdistan Region of Iraq.

Genel has stakes in two world-scale producing oil fields, a major gas condensate discovery and significant exploration acreage, all in the Kurdistan Region of Iraq.
The merger will be achieved through an all-share reverse-takeover in which Vallares will issue new shares worth US$2.1 billion at a price of £10 a share to acquire 100%of Genel, giving Vallares and Genel's current owners equal stakes in the combined business.

The transaction is subject to the approval of the Kurdistan Regional Government which is expected to be given later this month.
The newly enlarged company, to be renamed Genel Energy Plc, intends to publish a prospectus in October in order to get the consideration shares admitted to the standard listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities.

Vallares shares will be suspended from trading in the meantime. Tony Hayward will be Chief Executive Officer and Julian Metherell will be Chief Financial Officer. Both will sit on the Board. Nathaniel Rothschild will be a Non-Executive Director.
Mehmet Karamehmet, Genel's current majority owner with a stake of 56.18%, will nominate his daughter, Gulsun Nazli Karamehmet Williams, as a Non-Executive Director. Mehmet Sepil, who has 29.06%, and is currently Chief Executive of Genel will become President.

Murat Yazici will be Mehmet Sepil's nominee to the Board. Mehmet Karamehmet and Mehmet Sepil have committed to retain their interests in the newly enlarged company for one and two years respectively.
"Genel Energy Plc will have a majority of independent directors and is expected to be fully compliant with UK corporate governance rules from closing. Our aim is to achieve a premium listing early in 2012," said Rodney Chase, Non-Executive Chairman, in an official statement today.

The other Non-Executive Directors include James Leng, Sir Graham Hearne, George Rose and Mark Parris, whose appointment to the Board (which will become effective from the completion of the merger) is also announced today.
A further two Independent Non-Executive Directors are expected to be appointed with effect from the completion of the merger.

"I believe our investors are acquiring a strong existing business with excellent producing assets, a fine team of technical and operating staff already in place, and immense potential for future growth. Most importantly, we are doing so at the attractive entry price of some US$1.50 a barrel," said Tony Hayward.
Genel's biggest producing asset is the Taq Taq field where it has a 44% working interest and is joint operator.

It holds a 25% stake in the smaller Tawke field, near the Turkish border which is operated by DNO. Their proven and probable gross reserves are estimated at 647 million and 286 million boe respectively under the McDaniel & Associates competent persons report to be included in the prospectus to be published in connection with the transaction.

CPO Price Increases, Plantation Stocks Gain - The Indonesia Today

CPO futures price for November delivery on Bursa Malaysia was settled at RM3,042 per ton, up RM57 from previous closing. While the futures CPO price for November delivery is settled at Rp8,750 per kg on the ICDX, down Rp160 from previous closing.

Astra Agro Lestari's auction settled CPO price for physical contracts at Rp8,590 per kg, up Rp240 from yesterday's auction, and US$ 1,065 per ton. While KPB Nusantara settled CPO price at Rp8,490 per kg. At the auction, KPB Nusantara sold eight packages of CPO totaling 9,500 tons at price Rp8,230 - Rp8,490. Pacific Palmindo bought three packages totaling 4,000 tons at premium price.

Plantation stocks in Jakarta gained substantially. Tunas Baru Lampung surged 4.41%, followed by SMART and Bakrie Sumatra which gained 4.00% and 3.95% respectively. The others rose by 0-2%. Jaya Agra Wattie and PP London Sumatra were unchanged.

The plantation stocks in Singapore also gained. Noble Group advanced 5.74%, followed by Golden Agri 3.13%. Mewah Int'l climbed 4.35%. Only Kencana Agri that dropped 1.39%.

In Kuala Lumpur, plantation stocks closed higher led by IOI Corp 2.41%, followed by KL Kepong, and PPB Group 1.60% and 1.68% each. The losers are IJM Plantations and TH Plantations, which fell 1.85% and 0.48% respectively.

Budi Acid to pay Rp8 interim dividend - Insider Stories

PT Budi Acid Jaya Tbk, member of Sungai Budi Group, today announces a Rp8 per share dividend interim from net profit of this year's financial statement.

The company has determined cum dividend, a certain date that entitle investors with dividend when they buy the shares, on September 28 2011 in the regular and negotiation markets. Ex-dividend has been set on September 29 2011.

WEF Drops Indonesia Two Notches in World Competitiveness - The Indonesia Today

The World Economic Forum (WEF) has downgraded Indonesia's global competitiveness ranking two notches to 46th.

Neighbors Malaysia and Singapore widened the gap as Malaysia gained five places to 21st and Singapore advanced three places to second.

Indonesia is ranked below Portugal and Lithuania in the Global Competitiveness Index 2011-2012, but higher than Brazil (53) and India (56). China, the world's second largest economy, ranked 26th, while US ranked fifth.

Indonesia's rank for basic requirements is 53, while efficiency enhancers at 56. Innovation and sophistication factors had higher ranking at 41.

In the basic requirement ranking, Indonesia's infrastructure ranked 76, but macroeconomic environment had substantially higher ranking (23). The main weaknesses in efficiency enhancers are technological readiness (94) and labor market efficiency (94).

Trada Maritime buys Gunung Bara Utama - Insider Stories

PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memorandum of understanding was signed on September 6 2011.

Awesome Coal was founded in Indonesia and controls 99.99% shareholding in PT Batu Kaya Berkat that owns 99.89% stake in PT Gunung Bara Utama Gunung Bara has coal concession in Mantar, West Kutai, East Kalimantan. The transactions is subjet to extraordinary of shareholders meeting.

BAT Lepas Sebagian Saham di Bentoel - VivaNews

British American Tobacco (2009 PCA) Limited melepas sebagian kepemilikan sahamnya di PT Bentoel Internasional Investama Tbk sebanyak 970.542.854 unit kepada UBS AG, London Branch.

"Perseroan telah menerima tembusan surat tertanggal 26 Agustus 2011 dari British American Tobacco terkait perubahan kepemilikan saham," kata Sekretaris Perusahaan Bentoel Internasional Investama, Hadrianus Wahyu Trikusumo, dalam penjelasan tertulis yang dipublikasikan PT Bursa Efek Indonesia di Jakarta, Rabu 7 September 2011.

Menurut dia, surat tersebut ditujukan kepada Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) serta ditembuskan kepada perseroan dan Bursa Efek Indonesia. Dalam surat itu disebutkan, British American Tobacco (2009 PCA) Limited selaku pemegang saham perseroan telah menjual sebagian kepemilikan sahamnya pada 25 Agustus 2011.

Sementara itu, data perdagangan di pasar negosiasi Bursa Efek Indonesia pada 25 Agustus 2011 menyebutkan, penjualan saham BAT di Bentoel Internasional Investama dilakukan pada harga Rp760 sebanyak 1.941.086 lot atau 970,54 juta saham senilai Rp737,61 miliar.

Setelah transaksi, BAT memiliki sebanyak saham Bentoel, yang merupakan 85,55 persen dari seluruh modal disetor perseroan.

Sebelumnya, pada Juni 2009, British American Tobacco mengambil alih 85,13 persen saham pengendali di Bentoel Internasional Investama dari PT Rajawali Corpora dan para pemegang saham lainnya senilai US$494 juta atau sebanyak 5.731.595.500 saham pada harga Rp873 per unit.

Selanjutnya, BAT melakukan penawaran tender untuk sisa saham publik Bentoel. Penawaran tender oleh British American Tobacco diselesaikan pada Agustus 2009 dengan meningkatkan kepemilikan sahamnya di Bentoel hingga menjadi 99,74 persen.

Rabu, 07 September 2011

Flash news :" IPO DOMBA MAS "

Flash news :" IPO DOMBA MAS " Unsp akan segera melakukan persetujuan untk melakukan IPO saham Domba Mas yg di targetkan akhir 2011 ini. Dalam IPO tersebut Unsp akan meraup dana sekitar US$ 350 juta. IPO ini kemungkinan akan ditangani oleh Danatama dan CSFB. Akhir bulan lalu Unsp merelease kenaikan laba bersih paling tinggi di antara emiten di BEI yaitu 1,065% pd semester 1 2011. Rencana IPO ini erat hubungannya dengan pinjaman yg akan di terima Unsp di awal bulan ini sebesar us$ 250 juta oleh 5 bank yg dipimpin oleh CSFB.

Wall Street down on Europe; bear market fears grow - Reuters

(Reuters) - Wall Street fell for a third day on Tuesday on fears Europe still has failed to tackle its debt crisis, prompting worries the market is headed to new lows for the year.

Investors channeled cash into less risky assets as doubts resurfaced over the political will of Italy and Greece to push through tough budget measures and as Germany hardened its stand against providing more aid. The worries over the European debt crisis renewed fears that the global economy could fall into recession.

The S&P 500 is now down 14.5 percent from its highest point in 2011, reached at the end of April. Though investors have periodically taken heart from signs that Europe has carved out a plan to deal with its festering crisis, confidence has been repeatedly walloped every time there is a development showing that the problems have not been solved.

"We have got a shot at trading the S&P under 1,100 again," said Nick Kalivas, an equity index analyst at MF Global in Chicago. "I don't sense that people are really going to defend the market until something like that occurs."

A similar pattern of fractured confidence exists in bank stocks. Major U.S. banks were among the biggest decliners on Tuesday, with the KBW Bank index off nearly 2 percent. Late on Friday, the Federal Housing Finance Agency sued 17 large U.S. banks over subprime mortgage-backed bonds, compounding fears about the health of the sector.

JPMorgan and Bank of America, both subjects of the suit, fell more than 3 percent on Tuesday.

The CBOE Volatility Index, or Vix, a measure of expected market turbulence, posted its biggest gain in nearly two weeks, climbing 9.4 percent to 37.08.

"Right now there is a tremendous amount of uncertainty," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut. "There is a decent chance that we are in a bear market."

The Dow Jones industrial average dropped 100.96 points, or 0.90 percent, to 11,139.30. The Standard & Poor's 500 Index fell 8.73 points, or 0.74 percent, to 1,165.24. The Nasdaq Composite Index lost 6.50 points, or 0.26 percent, to 2,473.83.

Traders are monitoring lows set by major global indexes during the selloff in the first half of August. So far, only Germany's DAX, down nearly 25 percent this year, and Japan's Nikkei have fallen below those levels.

The S&P 500 hit a 2011 low of 1,101 on August 9.

European shares extended losses on Tuesday, after falling more than 4 percent on Monday, hitting their lowest close in more than two years on worries the euro zone debt crisis was deteriorating. The PHLX Europe sector index slumped 3.5 percent. U.S.-listed shares of Credit Suisse fell 12.9 percent to $23.84.

Gold stocks got a lift as the price of gold jumped to a record high above $1,920 after Switzerland pegged its currency to the euro in an effort to prevent its rapid appreciation in an extended spat of safe-haven buying. The precious metal then retreated 2 percent from that level as investors took profits.

The Arca Gold Bugs index, which measures the performance of 16 U.S.-listed gold miners, rose 0.6 percent. Eldorado Gold Corp was the biggest percentage gainer, up 2.4 percent to $21.36.

The Financial Times reported several big U.S. banks, in talks with state officials on settling claims of improper mortgage practices, were offered a deal to limit legal liability in return for a multibillion-dollar payment.

Several brokerages including Nomura cut their price targets on big lenders.

Bank of America Corp lost 3.6 percent to $6.99 and JPMorgan Chase & Co fell 3.4 percent to $33.44.

Among gainers, Sunoco Inc rose 5.3 percent to $38.03 after the energy company said it plans to exit its refining business and focus on its logistics operations.

Packaging company Temple-Inland Inc jumped 25 percent to $30.85 after International Paper Co agreed to buy it for $32 per share. International Paper rose 8.9 percent to $27.77.

Trading volume was lower than usual at 7.9 billion shares on the New York Stock Exchange, the American Stock Exchange and Nasdaq.

Decliners beat advancers by nearly than three-to-one on the New York Stock Exchange. On Nasdaq, decliners beat advancers by about two-to-one.

US Banks' Exposure to Europe Is 'Manageable': Bernanke - CNBC

While a recent report showed that U.S. financial companies have nearly $200 billion in net exposure to Greece, Ireland, and Portugal, the amount is "manageable relative to their capital," according to a July 14 letter Federal Reserve Chairman Ben Bernanke wrote to members of Congress.

Bernanke warned, however, that "a sovereign credit event in the region could affect a broad range of markets and financial institutions," including those outside of Europe.

Bernanke's letter came in response to an inquiry from Sen. Corker (R.-Tenn.) and Sen. Tom Coburn (R.-Okla.), who had expressed concern over the exposure of U.S. banks, and the American economy, to a potential default by one or more of the European countries.

The letter, obtained by CNBC Tuesday, said that most of the $200 billion comes in the form of credit-default swaps (CDS) [cnbc explains] sold by financial institutions on the debt of those countries. The amount doesn't take into account purchases by the banks themselves of debt protection against default, Bernanke wrote.

Confidential CDS data from the Depository Trust & Clearing Corporation's Trade Information Warehouse show that when CDS protection—both sold by banks and purchased by them—is taken into account, "the net exposures of the U.S. financial institutions to Greece, Ireland, and Portugal from CDS are quite small," the letter said.

Hedge Funds Increase Bets on Bear Market This Fall - CNBC

Bearishness among hedge funds is surging as they increase their bets that stocks will continue to drop, pushing the S&P 500 [.SPX 1165.24 -8.73 (-0.74%) into bear market territory this fall.

Negative sentiment among hedge funds jumped to 42 percent from 27 percent, the highest level in a year, according to the TrimTabs/BarclayHedge monthly survey. About 27 percent are outright bullish, the lowest level since April 2011, the month the stock market set its bull market highs.

A deeper look into the survey shows why they are so bearish. More than half of those surveyed believe the economy is in a recession, just 17 percent believe Congress and the president will agree on an economic plan that goes farther than just spending cuts and only three percent believe economic growth is poised to accelerate.

“Hedge fund managers have reversed their stance on U.S. equities,” stated the report on the survey conducted between Aug. 23 and Aug. 25. “Bearishness on the part of hedge fund managers squares with equity futures flows. Speculative traders have been net buyers of equity futures in only six weeks in 2011.”

Short interest, the number of shares being bet against a security, for the S&P 500 Index jumped 7.7 percent in mid-August, the largest increase since June 2008, according to Bank of America Merrill Lynch. Consumer, technology and financials are the most highly targeted sectors by short sellers, according to the firm.

The S&P 500 is down 15 percent from its 2011—and bull market high—on April. A 20 percent decline is the threshold that most consider to be a bear market. It appears hedge funds have plenty more dry powder to take us there.

“The level of free credit cash accounts—the money in margin accounts after margin requirements, short sale proceeds, and other factors are considered—is up 13.2 percent this year and stands at the highest level since early 2008,” stated the TrimTabs report.

Doug Kass of Seabreeze Partners took an informal survey of 14 of his hedge fund peers Tuesday.

“Only one hedge fund manager increased his net long exposure over the past two days,” said Kass. “Nine have lowered exposure and four have sat on their hands.”

To be sure, many investors take this giant leap in bearishnesses as a contrarian indicator. After all, this very same survey showed bullishness at a high for the year—43 percent—in July before the August slaughter.

“This is the one statistic that could tarnish my bearish view,” said Brian Kelly of Brian Kelly Capital. “When everyone runs to one side of the boat, it is almost always the wrong side of the boat to be on. For my part, I am locking in all my gains on the short side and looking for potential longs.”

Short sellers borrow shares from securities firms and sell them, profiting if the stock drops and they are able to buy back the borrowed shares at a lower price. TrimTabs/BarclayHedge surveyed 86 total firms.

China growth may slide below 9 percent in 2012: FX regulator - Reuters

China's economic growth in 2012 may drop below 9 percent for the first time in a decade, a senior Chinese foreign exchange official said on Tuesday, underlining the gloom in Beijing over the deteriorating health of the global economy.
Still, Huang Guobo, the chief economist at China's currency regulator, the State Administration of Foreign Exchange, told a forum that policy would remain focused on controlling inflation in coming months.
That echoed comments last week by Premier Wen Jiabao, who said inflation is unacceptably high.

"The Chinese economy is facing serious challenges despite strong growth," Huang said. "The weakening global demand for Chinese exports will be a challenge...Next year, if the situation continues, China's growth rate may fall below 9 percent."
Huang is not the first of China's many government economists to forecast slower growth. But his statement could signal a strengthening view in the government that growth in the world's second-biggest economy is moderating.

Wang Jian, an economist affiliated with China's National Development and Reform commission, known for relatively bearish views, told local Chinese media at the weekend that China's growth could fall below 8 percent in the first half of 2012.
The outlook would not be welcomed by policymakers elsewhere because China's growth during the global financial crisis played a key role in underpinning the world economy.

China's economy expanded in 2010 by 10.3 percent and during the global crisis years of 2008 and 2009 maintained annual growth of more than 9 percent. The last sub 9-percent expansion was in 2001, when GDP rose by 8.3 percent.
China's economy relies heavily on demand for its exports from the likes of Europe and North America, so financial markets are pricing in a slow down.
A Reuters poll in July showed analysts expect China's economic growth to slow from 9.3 percent this year to 8.8 percent next year.

Such a slowdown would be within Beijing's threshold. The country's five-year economic blueprint allows for growth of 7 percent a year on average through to 2015.
Wen was quoted last week saying that an economic slowdown was expected and even desirable in the fight to combat inflation, which was 6.5 percent in July.
Huang said policymakers needed to keep their focus on inflation because an increasing amount of hot money will flow into emerging markets, a common worry among China analysts, many of whom expect the United States to launch a new round of quantitative easing.

"Globally, we see weakening growth. Also, this year, the sovereign debt crisis has worsened, particularly in Europe. This has greatly undermined global confidence and has also caused volatility in the global markets," Huang said.
"Facing such a slowing economy and the sovereign debt crisis, I think there is a dilemma. Fiscal policy cannot be massively used and monetary policy has already been eased."

Many private economists have cut their growth forecasts for China sharply because of concern that weakening global growth will take a bite out of exports.
They see 8 percent growth as critical. Growth below that level may not create enough jobs to keep up with China's rapidly urbanizing population, they say.

Franc Swiss tekan harga emas - Bisnis Indonesia

LONDON: Harga emas diperkirakan terus terkoreksi turun karena investor mengalami kerugian dengan pundi franc Swiss mereka. Emas harus mereka jual untuk menutupi kerugian.
Nilai tukar franc Swiss anjlok setelah bank sentral Swiss mematok kurs minimum 1,20 per uero.

Sebastien Galy, analis valas senior Societe Generale SA, mengatakan anjloknya kurs franc Swiss akan diikuti penurunan harga emas.

"Tindakan bank sentral Swiss itu mengindikasikan kita akan berada dalam suasana yang berisiko, dan tidak baik bagi pasar emas," ujarnya melalui e-mail kepada Bloomberg.

Harga emas sempat naik 1,1% ke level US$1.921,15 per ounce di Bursa Komoditas London. Namun, pada sesi perdagangan hari ini pukul 14:37 waktu London, harga emas berada di level US$1.903 atau turun 2%.

Sementara itu, harga emas di Bursa Comex New York sempat naik 1,5% ke posisi US$1.921,15 per ounce. Namun, level harga itu masih di bawah level tertinggi yang sempat menyentuh US$1.923,70 di Bursa Comex.

Investor masih akan terus memantau pergerakan kurs franc Swiss dan mau tidak mau akan mempengaruhi konsentrasi mereka untuk mempertahankan emas di genggaman.

Indo Tambang to pay Rp1,168 dividend - Insider Stories

Coal miner PT Indo Tambangraya Megah Tbk (ITMG) will distribute a Rp1,168 a share interim dividend to its shareholders.
The dividend payment was agreed by the company's commissioners meeting on August 25, said President Director Somyot Ruchirawat in an official statement to Indonesia Stock Exchange last night.

Referring to the yesterday closing price, the yield dividend is 0.027%. ITMG fell 1.39% to Rp42,550 per share yesterday. Cum dividend is set on September 28 2011 and ex-dividend is decided on September 29.
Indo Tambang booked a 53.09% increase in net profit in the first half of this year to US$205.33 million from US$134.12 million. Revenue rose 19.04% to US$970.31 million from US$815.07 million.

Astra Akuisisi Tol Mojokerto Rp750 Miliar - VivaNews

Anak perusahaan PT Astra International, PT Astratel Nusantara (Astratel) mengakusisi 95 persen saham PT.Marga Hanurata Intrinstic (MHI) dari PT. Natpac Graha Arthamas dengan nilai Rp750 miliar.

Presiden Direktur PT Astra International, Prijono Sugiarto menjelaskan untuk akuisisi itu, Astratel membayar sekitar Rp750 miliar kepada Natpac. Dana itu berasal dari internal funding induk perusahaan, Astra. Akuisisi ini dinilai strategis, karena kelanjutan dari langkah Grup Astra di bidang infrastruktur, khususnya pengembangan jalan tol di Indonesia.

“Kami berupaya ikut serta mendukung pembangunan ekonomi nasional, yakni pengembangan infrastruktur yang sangat dibutuhkan bagi pembangunan Indonesia,” ujar Prijono Sugiarto dalam keterangan tertulis yang diterima, Selasa 6 September 2011.

Ia menjelaskan komposisi pemegang saham MHI setelah akuisisi itu menjadi 95 persen Astratel, dan 5 persen Natpac. MHI adalah perusahaan yang telah menandatangani Perjanjian Pengusahaan Jalan Tol (PPJT) dengan Badan Pengatur Jalan Tol (BPJT) melaksanakan pengusahaan jalan tol ruas Kertosono-Mojokerto sepanjang 40,5 km.

Menurutnya, biaya proyek jalan tol ini secara keseluruhan diperkirakan sekitar Rp 3,5 triliun termasuk biaya pembebasan tanah, dan konstruksi. MHI sekarang ini telah masuk dalam tahap proses pembebasan tanah, dan melakukan pekerjaan konstruksi.

Dengan akuisisi MHI ini, lanjut Prijono, maka Astratel telah memiliki 3 ruas tol, termasuk PT Marga Mandalasakti (MMS) yang mengoperasikan jalan tol ruas Tangerang-Merak sepanjang 72,5 km, dan PT Marga Trans Nusantara (MTN) yang akan membangun, dan mengoperasikan jalan tol ruas Kunciran-Serpong sepanjang 11,2 km bekerjasama PT Jasa Marga Tbk.

"Total penyertaan Astratel untuk ketiga jalan tol ini mencapai Rp 3,4 triliun dengan total panjang jalan 124,15 km, di mana 72,5 km dikelola oleh MMS telah beroperasi," katanya.

Astratel didirikan 12 Oktober 1992 adalah perusahaan induk untuk Divisi Infrastruktur dalam Grup Astra, dan sahamnya dimiliki 100 persen oleh Astra International.

BRI masuk 10 perusahaan terbaik Forbes Indonesia - AntaraNews

Jakarta (ANTARA News) - PT Bank Rakyat Indonesia Tbk (Persero) masuk dalam 10 perusahaan berkinerja terbaik dari Majalah Forbes Indonesia edisi Agustus 2011 yang memasukkan Bank BRI dalam jajaran Top Ten Companies 2011 dengan total penjualan (sales) di atas 1 miliar dolar Amerika Serikat (AS).

"BRI merupakan satu-satunya wakil dari industri perbankan yang masuk dalam jajaran Top Ten Companies 2011 tersebut," kata Sekretaris Perusahaan BRI, Muhamad Ali, di Jakarta, Selasa.

Menurut dia, penilaian Forbes Indonesia dilandaskan pada beberapa indikator, yakni konsistensi pendapatan operasional perusahaan dalam lima tahun terakhir, penjualan selama lima tahun, peningkatan harga saham dalam setahun, dan pertumbuhan earning per share (EPS) perusahaan tiga hingga lima tahun terakhir.

"Metodologi ini menemukan perusahaan yang memiliki kinerja konsisten dalam jangka panjang di berbagai industri dan memiliki tata kelola serta likuiditas yang baik," kata Ali, mengutip keterangan majalah yang berkantor pusat di AS itu.

Selain Bank BRI, sejumlah perusahaan nasional yang masuk dalam jajaran ini yakni PT Sinar Mas Multiartha, PT Charoen Pokphand Indonesia, PT Japta Comfeed Indonesia, PT Adaro Energy, PT Gajah Tunggal, dan PT Indomobil Sukses Internasional, PT AKR Corporindo, PT Semen Gresik, dan PT Indocement Tunggal Prakasa.

Ali mengatakan, prestasi ini tidak lepas dari semakin kompetitifnya Bank BRI di pasar keuangan mikro serta ekspansi jaringan yang kian masif dilakukan perusahaan dalam beberapa tahun terakhir. "Dari sisi daya saing, Bank BRI semakin teratas di pasar, ini tidak lepas dari ekspansi jaringan kita yang sekarang merupakan yang terbesar dan tersebar di pelosok nusantara," katanya.

Sebelumnya juga secara berturut-turut, Bank BRI juga menjadi satu-satunya perusahaan Indonesia yang masuk dalam daftar "Asian Fabulous 50" atau Daftar 50 Perusahaan Terhebat Asia. "Asian Fabulous 50" merupakan daftar perusahaan-perusahaan publik terbesar Asia, di luar peringkat 500 dunia. Untuk masuk daftar ini tidaklah mudah karena daftar ini dibuat oleh Forbes berdasarkan laba jangka panjang, pertumbuhan penjualan dan pendapatan, kenaikan harga saham, dan proyeksi pendapatan.

Kinerja BRI yang membaik juga tercermin di pasar saham akhir-akhir ini yakni kapitalisasi pasar saham Badan Usaha Milik Negara (BUMN) yaitu Bank BRI (BBRI) mencatatkan kapitalisasi pasar saham BUMN terbesar di BEI senilai Rp159,96 triliun periode 26 Agustus 2011.

Pada Mei 2011, BRI juga meraih peringkat terbaik dalam jajaran 500 merek bank paling bernilai tinggi sedunia dari Brand Finance. Brand Finance PLC merupakan konsultan spesialis valuasi merek global yang berbasis di London UK yang didirikan tahun 1996.

Setiap tahun Brand Finance PLC mengadakan penilaian merek-merek bank ternama di dunia dengan menghitung nilai masing-masing merek bank dengan me-makai metode royalty relief, yang telah disahkan oleh International Standard Organisation (ISO) 10668.

BPMigas Targetkan Penerimaan Penjaulan Gas US$6 M -

BPMigas menargetkan penerimaan negara dari harga jual beli gas bisa mencapai US$ 6 miliar di tahun 2012.

Pencapaian penerimaan negara tersebut dapat diperoleh seiring dengan perbaikan harga jual gas. "Kita ingin harga jual gas merata, tidak di hilir saja tapi hulu juga. Sehingga dengan adanya persamaan harga itu, nantinya dapat memberikan pemasukan kepada penerimaan negara yang lebih besar," kata Kepala BP Migas R Priyono di Jakarta, Selasa (6/9).

Priyono menjelaskan, dengan adanya persamaan harga gas tersebut akan memberikan kepastian usaha kepada industri hulu khususnya. Sementara terkait kontrak harga gas dengan PT PGN pihaknya mengaku sudah mengirimkan surat kepada Menteri BUMN dan Menteri Keuangan. "Yang di bawah harga 3 dolar kita minta supaya naik, karena itu bekal kita juga untuk nego dengan Fujiyan," tukas Priyono.

Priyono menambahkan, bahwa harga kontrak gas domestik saat ini tidak mencerminkan apresiasi industri di hulu. Seperti diketahui, kontrak harga gas domestik saat ini berkisar antara 1,6, 1,8 hingga 3 dolar.

Agus Marto Batasi Pinjaman Valas Perusahaan RI - Detikfinance

Jakarta - Menteri Keuangan Agus Martowardojo bakal menerbitkan aturan pembatasan pinjaman dalam bentuk valuta asing (valas) bagi perusahaan-perusahaan bank dan non bank BUMN maupun perusahaan swasta.

Agus Marto menyatakan pemerintah telah berkoordinasi dengan Bank Indonesia terkait kebijakan pembatasan tersebut. Hal ini dilakukan sebagai langkah antisipasi atas gejolak ekonomi yang masih belum stabil, yang akan menimbulkan risiko nilai tukar (currency risk).

"Jadi karena interest valuta asing lagi rendah, dan juga currency-nya ada kecenderungan melemah, bisa saja mereka kemudian cenderung untuk meminjam dalam valuta asing. Padahal mereka itu usahanya tidak ada penerimaan dalam valuta asing. Itu namanya ada currency risk. Ada exchange risk," ujar Agus Marto saat ditemui di kantornya, Jalan Wahidin Raya, Jakarta, Selasa (6/9/2011).

"Untuk itu, kita musti mengatur supaya perusahaan-perusahaan yang tidak mempunyai penerimaan dalam valuta asing itu harus dikendalikan izin untuk meminjam dalam valuta asing," tambahnya.

Selain itu, lanjut Agus Marto, aturan tersebut juga untuk menghindari perbedaan jangka waktu.

"Misalnya orang meminjam jangka pendek tetapi untuk dipinjamkan atau diinvestasikan jangka panjang. Jadi meminjam dananya jangka pendek 3 bulan tapi dipakai untuk beli tanah atau beli gedung. Loh nanti 3 bulan ditarik pinjamannya kan dia tidak bisa ambil uangnya. Jadi itu juga ada yang disebut sebagai mismatch dalam jangka waktu," paparnya.

Agus Marto menyatakan pemerintah juga khawatir dengan derasnya pinjaman dalam bentuk valas maka akan terdapat risiko tingkat bunga.

"Misalnya dia meminjam tingkat bunga floating tetapi dia memberikan pinjaman fixed. Jadi floating itu kan bisa dari rendah tahu-tahu naik jadi tinggi. Sedangkan dia meminjamkan fixed," jelasnya.

"Itu adalah hal-hal yang Bank Indonesia maupun pemerintah sejalan untuk kita akan tertibkan," tambahnya.

Rencananya, ujar Agus Marto, pemerintah akan menerbitkan suatu kebijakan untuk pembatasan pinjaman valas tersebut dalam bentuk peraturan menteri keuangan (PMK). Aturan ini akan diterapkan merata pada setiap sektor, baik bank maupun non bank.

"Induknya peraturan pasar modal ataupun PMK," pungkasnya.

Sebelumnya, Gubernur BI Darmin Nasution mengatakan saat ini pihaknya tengah mengkaji untuk membatasi pinjaman dalam bentuk valas bagi perbankan swasta maupun pelat merah.

Selasa, 06 September 2011

Eurozone Private Sector Growth At 2-Year Low - RTT News

Private sector growth in euro area eased to its lowest level in two years in August on the back of weak demand as the region's recovery almost ground to a halt, survey results from Markit Economics showed Monday.

The final Composite Output Index for the 17-nation euro currency bloc fell to 50.7 from 51.1 in July. However, a reading above 50 suggests expansion in the sector. The latest score was below the flash estimate of 51.1.

The Purchasing Managers' Index for services dropped to 51.5, unchanged from the flash reading. It was down from 51.6 in July. This was the second-lowest reading since recovery began in September 2009. The slowdown in activity growth at Eurozone service providers mainly reflects weaker gains in new business.

The fifth successive slowdown in the rate of expansion in the Eurozone's key services sector during August, coupled with a further weakening of new business growth, reinforces concern that Eurozone growth is in serious danger of grinding to a halt, IHS Global Insight Chief Economist Howard Archer said.

Business volumes across the private sector decreased in August, for the first time in two years. Manufacturing new orders declined at the fastest pace since June 2009, while service providers saw the weakest increase in new work since November 2009. Read More ...

ECB: Debt crisis reveals weaknesses of eurozone - AP

The chief of the European Central Bank said Monday that the debt crisis had revealed the weaknesses of the eurozone and that one solution would be to eventually create a central finance ministry for the continent.

Jean-Claude Trichet told a conference on the crisis in Paris that the biggest European economies had in the past ignored rules that required them to keep their deficits and debts in check. But he said the crisis had created a new consensus to strengthen and follow those rules.

That's Trichet's hope, at least. While the eurozone has been forced to bail out Greece, Ireland and Spain, it now faces a much bigger problem: There are concerns Italy could be the next country to fall. The eurozone likely does not have enough money to save its third-largest economy.

As a result, Trichet and others have been pushing Italy to make drastic cuts in its budget in order to slash its deficit. Rome has promised to do so, but Premier Silvio Berlusconi's government has backtracked on some of those cuts.
Trichet noted, as others have, that one of the hallmarks of the crisis has been that while the eurozone economies are linked by their common currency, each country creates its own budget. That will need to change, he said.

"In the future, we can imagine a confederation ... with a minister of finance with responsibilities including the regulation of the solvency of the eurozone," he said.
In the heyday of the boom, several European countries allowed their budgets to run larger deficits than the rules allowed. Countries like Greece and Portugal eventually came close to bankruptcy and were saved only by international rescue packages.

Now their debts are threatening the entire eurozone, with the large countries forced to bail them out.

Copper Market May See Shortage of Supplies for Third Year on China Demand - Bloomberg

Copper will remain in short supply for a third straight year in 2012 as China-led demand boosts prices, Japan’s top producer said. Demand will likely exceed supply by 495,000 metric tons in 2011, the biggest deficit since 2004, compared with 214,000 tons last year, said Akira Miura, executive officer of the marketing and raw-material department at Pan Pacific Copper Co., Japan’s biggest producer. The shortage may shrink to 31,000 tons in 2012, he said.

Copper, used in wires and pipes, has climbed 18 percent in the past year, reaching a record $10,190 a ton in February, as the global economy recovers from its worst recession since World War II. Higher prices benefit major producers such as BHP Billiton Ltd. (BHP) and Freeport-McMoRan Copper & Gold Inc. (FCX) The metal is favored by Goldman Sachs Group Inc. because of its “superb supply-demand fundamentals.”

“Even though the market deficit will decline sharply, tightness will continue because of a lower stockpile-to-use ratio,” Miura said in an interview on Sept. 1. The global- inventory ratio may decline to a 1.3-month level in 2012 from an estimated 1.4 this year and 2010’s 1.8, he said.

Global output may increase 1.7 percent to 19.5 million tons in 2011 and 6.2 percent to 20.7 million tons in 2012 with new smelting capacity in China, Miura said. Demand may grow 3.1 percent to 20 million tons this year and 3.8 percent to 20.7 million tons in 2012, he said.

Supply Disruptions
“Copper-supply disruptions will amount to at least 8 percent of total production loss this year, compared to 4 percent to 5 percent we had expected earlier in the year,” Goldman analysts Sal Tharani and Sandeep SM said in a report dated Aug. 31. Read More ...

US growth and eurozone woes hit stocks - Financial Times

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Monday 16.35 BST. Investors dumped European banking stocks and sharply pared positions in growth-focused assets as worries about the eurozone debt crisis and the US economy continue to batter sentiment.

Germany’s Dax index fell 5.1 per cent to its lowest level since November 2009 on a cocktail of concerns and the FTSE Eurofirst 300 lost 3.8 per cent as financials took a severe beating. Investors are piling into the perceived haven of German sovereign debt, forcing Bund yields to record lows.

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The FTSE All-World equity index is down 2 per cent, following a rotten session in Asia and there is broad softness in commodities, where copper is off 1.7 per cent to $4.05 a pound and Brent crude is lower by 1.3 per cent to $110.86 a barrel.

Corporate and sovereign credit default swap indices in Europe widened, and gold is benefiting from the tension, rising 0.8 per cent to $1,899 an ounce.

Wall Street is closed on Monday for the labour day vacation, but in electronic trading the S&P 500 futures contract is down 2 per cent.

The action at the start of the week is primarily focused on two themes: the hangover from an extremely disappointing US jobs report on Friday and nervousness ahead of a week of eurozone fiscal and political wrangling.

The latter is delivering one of its regular pulses of intense stress and appeared to be the main driving force going into the European close.

Fiscal vacillation in Rome and doubts about Greece’s latest bail-out tranche are again causing tremors. Italian 10-year yields have risen for the 11th consecutive session, up 28 basis points to 5.57 per cent, even as the European Central Bank is seen standing as a backstop. Vague talk of an imminent downgrade for Italy is doing the rounds – unsubstantiated, it should be stressed.

The ECB will meet on Thursday to discuss monetary policy and the Italian debt purchase programme is likely to be on the agenda. Read More ...

Ketakutan Krisis, Bursa Eropa 'Memerah' - Detikfinance

Saham-saham di bursa Eropa jatuh pada perdagangan hari ini, dengan penurunan tertinggi pada bursa Paris sebesar 4%. Penurunan terjadi karena tekanan krisis utang dan risiko krisis yang makin besar.

Harga surat utang yang diterbitkan Yunani dan Italia jatuh tajam yang mengakibatkan suku bunga surat utang menjadi tinggi.

Nilai tukar euro juga jatuh terhadap dolar AS karena investor mengalihkan investasinya dari Eropa yang diselimuti sentimen krisis utang. Sementara harga emas naik di atas US$ 1.900 per ounce.

Gubernur Bank sentral Eropa Jean-Claude Trichet mengingatkan perlunya sebuah kebijakan penyelamatan tahap dua bagi Yunani sehingga terhindar krisis utang. Sementara Direktur IMF Christine Lagarde kembali mengingatkan bank-bank di Eropa perlu modal ekstra untuk bisa bertahan dari krisis utang yang terjadi.

"Saat ini saham bank masih di dalam tekanan karena kondisi di Eropa. Kesempatan untuk perbaikan keadaan makin tipis karena utang yang makin besar, jelas Analis Manoj Ladwa seperti dikutip dari AFP, Senin (5/9/2011).

Pada awal perdagangan, bursa Paris jatuh 4%, bursa London jatuh 2,45%, dan Frankfurt turun 3,85%. Bursa Madrid turun 3,63%, dan bursa Milan turun 3,67%.

Bursa Asia juga jatuh tajam dipimpin penurunan bursa Tokyo 1,86%.

Seperti diketahui, pemerintah AS menuntut ganti rugi senilai US$ 200 miliar kepada perbankan karena kerugian krisis subprime mortgage di 2008 lalu. Bahkan pihak berwenang AS menuntut 17 bank besar senilai miliaran dolar AS karena kerugian subprime mortgage tersebut.

Hal ini menyebabkan saham-saham perbankan di Eropa berada di 'zona merah' pada perdagangan hari ini. Saham Royal Bank of Scotland terjun 10,39%, saham Barclays turun 6,6%, saham Deutsche Bank jatuh 8,92%, dan saham Societe Generale turun 8,84%.

Fitch Adaro Ratings No Immediate Impact on Acquisition Step

Fitch Ratings said that PT Adaro Indonesia's (Adaro Indonesia) ratings are not immediately affected by its parent's, PT Adaro Energy Tbk (Adaro Energy), acquisition of a 75% stake in a green field coal mining company for US$ 222.5 million.

Adaro Indonesia is rated Long-Term Foreign and Local Currency Issuer Default 'BB+' with Stable outlooks. Its US$ 800 million senior notes due in 2019, guaranteed by Adaro Energy, are also rated 'BB+'.

The acquisition is to be funded by drawing down on existing credit facilities of Adaro Indonesia. In Fitch's view, the immediate increase in debt and associated interest does not significantly affect Adaro Indonesia's financial profile.

The company is yet to announce details of the coal resources acquired and associated development costs or any guidance on coal production from this venture. Fitch will review the ratings once these details are made available.

Both Adaro Energy and Adaro Indonesia continue to display strong financial profiles, including robust liquidity. Both companies reported improved financial results for the six months ended June 2011 due to higher coal production and stronger selling prices relative to 2010.

Fitch expects coal prices to remain robust and Adaro Indonesia to benefit from increasing production in the short- to medium-term. At end-June 2011, Adaro Indonesia's adjusted debt net of cash to operating EBITDAR and funds from operations interest coverage were 0.85x and 8.72x, respectively (0.83x and 8.71x, respectively for Adaro Energy).

Saham PGAS Teraktif Diperdagangkan Senin (5/9) -

Saham PGAS teraktif diperdagangkan pada hari ini dengan transaksi mencapai 7.652 kali senilai Rp467,9 miliar dengan volume 164,5 juta saham.

Demikian dikutip dari data BEI, Senin (5/9). IHSG ditutup menguat 24,4 poin atau 0,6% ke 3.866,17. Volume perdagangan mencapai 4,1 miliar saham senilai Rp5,9 triliun. IHSG mengalami net foreign buy Rp59,7 miliar dengan penjualan asing sebesar Rp2,93 triliun dan pembelian asing mencapai Rp2,99 triliun.

Urutan kedua saham BBRI dengan transaksi sebanyak 5.127 kali senilai Rp52,3 miliar dengan volume perdagangan mencapai 84,8 juta saham. Urutan ketiga saham ASII dengan transaksi sebanyak 4.282 kali senilai Rp550,2 miliar dengan volume perdagangan mencapai 8,1 juta saham. Urutan keempat saham BMRI dengan transaksi sebanyak 3.988 kali senilai Rp433,3 miliar dengan volume perdagangan mencapai 62,5 juta saham.

Urutan kelima saham APIC dengan transaksi sebanyak 3.656 kali senilai Rp36,1 miliar dengan volume perdagangan mencapai 127,2 juta saham. Urutan keenam saham TLKM dengan transaksi sebanyak 3.321 kali senilai Rp492,1 miliar dengan volume perdagangan mencapai 65,2 juta saham. Urutan ketujuh saham ADRO dengan transaksi sebanyak 2.914 kali senilai Rp175,7 miliar dengan volume perdagangan mencapai 86,01 juta saham.

Urutan kedelapan saham BUMI dengan transaksi sebanyak 2.470 kali senilai Rp144,5 miliar dengan volume perdagangan mencapai 56,9 juta saham. Urutan kesembilan saham BBCA dengan transaksi sebanyak 2.332 kali senilai Rp221,5 miliar dengan volume perdagangan mencapai 27,1juta saham. Urutan kesepuluh saham INDF dengan transaksi sebanyak 2.264 kali senilai Rp86,37 miliar dengan volume perdagangan mencapai 14,2 juta saham.

Gamala Katoppo to join Delta Dunia - Insider Stories

Well-experienced Head of Investor Relations Gamala Virasa Katoppo at engineering contractor PT Truba Alam Manunggal Tbk will resign from his current position and join coal mining contractor PT Delta Dunia Makmur Tbk (DOID).

Gamala, or people call him Wira, will be appointed as corporate secretary at Delta Dunia, taking over responsible from Andre Soelistiyanto.
Wira was former head of investor relations at oil and gas producer PT Medco Energi Internasional Tbk (MEDC) for several years.

In an official announcement published today. Truba Manunggal has mandated Kristono Wardhana as new corporate secretary, replacing his predecessor.
"I will join Delta Dunia as corporate secretary, which is now handled by Andre Soelistiyanto," Wira told Insider Stories.
Delta Dunia is Indonesia's second largest coal mining contractor, led by Hagianto Kumala, former famed executive of PT United Tractors Tbk, which is controlled by Texas Pacific Group, China Investment Corporation, and Government of Singapore's Investment Corporation.

Truba Manunggal, leading EPC contractor of power plant projects, is now headed by Sidarta Sidik with President Commissioner Richard Harjani.
In the first quarter of 2011, PT Mandala Kapital controls 27.97% shareholding in Truba Manunggal, Indo Infrastructure Group Pte Ltd of 9.52%, PT Alam Manunggal of 10.21%, and public holders of 52.30%.

BI Belum Akan Ubah Suku Bunga - Republika

Pola inflasi di Indonesia berbeda dengan negara lainnya. Faktor yang memberi pengaruh utama terhadap inflasi di Indonesia masih didominasi komoditas pangan. Jadi, saat komoditas pangan tertentu, seperti beras, cabai, dan daging direspon dengan baik, maka inflasi dapat ditekan.

Bank Indonesia (BI) sebagai bank sentral di Indonesia berperan penting dalam mengendalikan inflasi. Ia mengandalkan tingkat suku bunga dan jumlah uang yang beredar untuk mengendalikan harga.

“Saat ini BI belum akan mengubah suku bunga (BI rate),” ungkap Gubernur Bank Indonesia, Darmin Nasution.

Jika tekanan inflasi dan ekspektasi harga tak meningkat, maka belum cukup alasan BI untuk menaikkan policy rate. Apalagi, lanjut Darmin, inflasi Indonesia hingga akhir tahun nanti kecenderungannya akan turun.

Mengubah policy rate, tambahnya, hanya akan memengaruhi suku bunga bank lain. Akibatnya, masyarakat akan lebih berpikir untuk memertimbangkan dana yang mereka punya di bank.

Darmin memaparkan mekanisme kerja policy rate. Jika pemerintah menaikkan policy rate, masyarakat nantinya akan cenderung menabung dan menempatkan dana mereka di bank. Hal tersebut karena bunga bank akan naik.

Darmin membenarkan bahwa uang masyarakat di bank tersebut masih berupa likuiditas. “Namun, kapasitas masyarakat rumah tangga dalam pola konsumsi menjadi menurun,” jelasnya.

Oil Falls to US$83.7, Metals Lost Ground - The Indonesia Today

Nymex crude oil tumbled 3.17% to US$83.7 per barrel Monday (Sep 5), dragging down energy stocks worldwide. Metals also lost ground on growing recession worries.

Xstrata, the world's largest thermal coal exporter, closed lower by 6% in London Monday, while Anglo American and Glencore dropped 3.64% and 3.56% respectively. Earlier in Asia, China Coal and BHP Billiton down more than 3%, while Rio Tinto dropped 3.14%.

BP closed lower by 2.99% in London, while CNOOC slashed 8.89% in Hong Kong. Santos and WOodside also closed lower by 4.92% and 3.06% in Sydney. In Paris, Total SA dropped 4.28%, while Premier Oil tumbled 4.35% in London.

Metals ended mostly lower in the London Metals Exchange, where nickel dropped 2.84% to US$20,890 per ton, while tin lost 1.24% to US$23,950 per ton. Copper also declined 1.29% to US$8,959 per ton, while zinc and lead down 1.05% and 1.22% respectively.

Meadow Indonesia, Matahari to merge - Insider Stories

Meadow Asia Company Ltd is keen to merge PT Meadow Indonesia with PT Matahari Department Store.

In its statement published today, the subsidiary of CVC Capital Partners Ltd will receive 6,849.95 shares of Matahari for each share of Meadow Indonesia. Therefore the merger will not be diluting minority ownership in Matahari. It also will not increase capital when the two companies merge.
Meadow Indonesia owns 98.15% of Matahari. The companies will seek shareholders’ approval scheduled on September 20, 2011.

As earlier reported, the market authority indicated that the merger plan has no problem as they want to have one board of directors to run for the two companies for efficiency reason.

However the management of Matahari is yet to respond to a number of additional queries from Bapepam-LK about the merger plan.
Matahari Corporate Secretary Miranti Hadisusilo explain the company is targeting sales growth of between 10% and 15% this year from last year's sales of Rp7.9 trillion.

The company will also build 10 new outlets this year in Java and Kalimantan islands. Miranti said the opening of new outlets has been implemented at Artha Gading Mall and Kalibata Mall, Jakarta.
The LPPF-coded stock dropped 1.82%, or Rp50, to Rp2,700 on July 28 in Jakarta, before it was suspended by the market authority.

Tak Surut Semangat Garap Libya - Inilah

Gejolak di Libya tak menyurutkan langkah Direktur Hulu Pertamina Muhammad Husein untuk menancapkan bendera bisnis Pertamina di negara Khadafy itu.

“Kita masih ingin melanjutkan bisnis di sana," kata Direktur Hulu Pertamina, Muhammad Husein di kantor Pertamina Senin (5/9). Ia mengakui, kondisi geo politik negara Libya sedang bergolak, namun hal itu tidak membuat semangat PT Pertamina (Persero) menjadi kendor.

Menurutnya, Pertamina akan tetap meneruskan bisnis bidang migas (minyak dan gas) di negara tersebut. "Kita masih menunggu kabar baik di sana, untuk itu kita kasih waktu dulu mereka untuk merapikan internalnya. Kami sangat harapkan agar nggak berubah situasinya," kata Muhammad Husein .

Pertamina tengah mengelola blok Sirt dan Sabrata di lepas pantai Libya melalui Pertamina E&P Libya Limited. Perusahaan ini mengeksplorasi dan memproduksi minyak dan gas di bawah Perjanjian Eksplorasi dan Produksi (EPSA) dengan National Oil Corporation (NOC).

Pertamina sudah mengeluarkan dana investasi hingga US$50 juta untuk kegiatan seismik. BUMN perminyakan itu telah menarik seluruh karyawan dari Libya Februari lalu gara-gara gejolak politik di negara itu. Pertamina sebelumnya mempekerjakan sebanyak 10 orang pegawai ditambah dari masyarakat setempat.

Muhamad Husen yang sebelum diangkat menjadi Direktur Hulu PT Pertamina, menjabat sebagai Komisaris PT Pertamina EP dari 1 Juli 2009 itu berharap agar BUMN itu tetap bisa menjalankan bisnisnya di Libya.

Setelah hampir tiga tahun kosong, PT Pertamina menunjuk Muhammad Husein sebagai direktur hulu. Posisi ini hanya diisi pejabat setingkat pelaksana tugas setelah Karen Agustiawan dilantik menjadi Direktur Utama. Salah satu target dari sektor hulu yang dikomandani Muhammad Husein yang selama ini menjadi penopang utama Pertamina dalam hal pencapaian kinerja keuangan adalah membangkitkan kembali bisnis di Libya.

Bapak dari tiga anak yang lahir di Bandung, 2 Maret 1957 ini, diangkat melalui Surat Keputusan Nomor 123/MBU/2011 dan dilantik pada 31 Mei 2011. Ia meraih gelar Sarjana Geologi di ITB (1984) dan Magister Sains di University of London (1989).

Muhamad Husen mengawali karir di dunia perminyakan pada 1984 sebagai Geologist di Divisi Eksplorasi LEMIGAS. Selanjutnya sebagai Kepala Remote Sensing & GIS Studies Group dan Kepala Unit Layanan Teknis Eksplorasi LEMIGAS.

Pada 2001-2005 Muhamad Husen menjabat sebagai Kepala Divisi Eksplorasi LEMIGAS dan pernah menjabat sebagai Asisten Deputi Bidang Perminyakan pada Deputi Bidang Energi Sumber Daya Mineral dan Kehutanan di Kantor Kementerian Koordinator Bidang Perekonomian.

Medco Segera Buka Lagi Kantor di Libya - Detikfinance

akarta - PT Medco Energi Internasional Tbk menyatakan akan kembali kegiatan kantornya di Tripoli, Libya setelah lama tutup akibat konflik politik di negara tersebut.

Hal ini disampaikan oleh Direktur Utama Medco Lukman Mahfoedz dalam keterangan, Senin (9/5/2011).

"Medco Energi akan segera memulai kembali kegiatan kantor di Tripoli agar sekitar 60 orang karyawan Medco Energi yang merupakan warga Negara Libya dapat kembali bekerja minggu ini. Kami juga akan mulai mempersiapkan kegiatan operasi di wilayah kerja Area 47 agar dapat kembali beroperasi sesegera mungkin," tutur Lukman.

Lukman mengatakan dirinya menyambut baik pernyataan Menteri Luar Negeri Indonesia Marty Natalegawa yang mendukung proses transisi demokrasi damai di Libya yang dilakukan melalui Dewan Transisi Nasional Libya (National Transition Council-NTC), serta dukungan Asosiasi Negara-Negara Asia Tenggara terhadap semua upaya yang sedang berjalan yang melibatkan Dewan Transisi Nasional untuk mendorong rekonsiliasi dan membentuk Libya yang demokratis dan stabil sesuai dengan aspirasi dan keinginan rakyat Libya.

Dikatakan Lukman, pada Rabu pekan lalu Medco juga telah menerima kabar dari mitra kerjanya, Libyan Investment Authority (LIA), bahwa NTC telah menunjuk kembali Mohammed H. Layas sebagai Chairman dari Board of Directors LIA, dan Rafik A. Nayed sebagai Chief Executive Officer LIA.

LIA adalah badan pengelola keuangan yang didirikan oleh Pemerintah Libya pada 2006 untuk mengelola pendapatan negara yang berasal dari minyak dan saat ini memiliki aset lebih dari US$ 65 miliar.