JAKARTA, April 6 (Reuters) - Shares in Indonesia's Bakrie group rose across the board on Tuesday, lead by coal miner PT Bumi Resources after it agreed a contract with a Japanese buyer.
Shares of Bumi, which is controlled by the Bakrie group, rose 8.7 percent to 2,500 rupiah at 0352 GMT.
Bumi announced late on Monday that it has secured a coal supply agreement to sell coal at $104 per tonne to Japanese buyers..
'It mainly driven by the confirmation of coal sales of Bumi's unit to a Japanese buyer,' said Bagus Hananto, a coal analyst at PT NISP Sekuritas.
Barkie & Brothers, the group investment company, also rose after it posted better financial result to narrow its net loss for 2009 to 1.63 trillion rupiah ($180 million) compared to a 16.46 trillon rupiah net loss in 2008.
Ikhsan Binarto, an analyst at PT Optima Securities, said investors still considered Bakrie stocks to be undervalued.
'Investors are now collecting their stocks as they still underperformed compare to the broader market,' Binarto added.
Bakrie & Brothers shares rose 10 percent to 77 rupiah.
In line with those gain, shares in Bakrie Sumatra Plantation rose 6.14 percent to 520 rupiah, while the overall index was down 0.07 percent.
Shares in another Bakrie group Dharma Henwa Tbk rose 5 percent to 107 rupiah.
Shares in Bakrie's energy firm, PT Energi Merga Persada also rose 7.25 percent to 148 rupiah.
Shares in its telecommunication unit PT Bakrie Telecom rose 2.86 percent to 144 rupiah.
($1 = 9,055 rupiah) (Reporting by Telly Nathalia and Janeman Latul; Editing by Ed Davies) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) ($1=9055 Rupiah) Keywords: MARKETS INDONESIA/BAKRIE (ed.davies@thomsonreuters.com; Reuters messaging: ed.davies.reuters.com@reuters.net; +6221 384 6364) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shares of Bumi, which is controlled by the Bakrie group, rose 8.7 percent to 2,500 rupiah at 0352 GMT.
Bumi announced late on Monday that it has secured a coal supply agreement to sell coal at $104 per tonne to Japanese buyers..
'It mainly driven by the confirmation of coal sales of Bumi's unit to a Japanese buyer,' said Bagus Hananto, a coal analyst at PT NISP Sekuritas.
Barkie & Brothers, the group investment company, also rose after it posted better financial result to narrow its net loss for 2009 to 1.63 trillion rupiah ($180 million) compared to a 16.46 trillon rupiah net loss in 2008.
Ikhsan Binarto, an analyst at PT Optima Securities, said investors still considered Bakrie stocks to be undervalued.
'Investors are now collecting their stocks as they still underperformed compare to the broader market,' Binarto added.
Bakrie & Brothers shares rose 10 percent to 77 rupiah.
In line with those gain, shares in Bakrie Sumatra Plantation rose 6.14 percent to 520 rupiah, while the overall index was down 0.07 percent.
Shares in another Bakrie group Dharma Henwa Tbk rose 5 percent to 107 rupiah.
Shares in Bakrie's energy firm, PT Energi Merga Persada also rose 7.25 percent to 148 rupiah.
Shares in its telecommunication unit PT Bakrie Telecom rose 2.86 percent to 144 rupiah.
($1 = 9,055 rupiah) (Reporting by Telly Nathalia and Janeman Latul; Editing by Ed Davies) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) ($1=9055 Rupiah) Keywords: MARKETS INDONESIA/BAKRIE (ed.davies@thomsonreuters.com; Reuters messaging: ed.davies.reuters.com@reuters.net; +6221 384 6364) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.