Thai Hot Stocks-PTT down after Q3, Banpu hits over 2-wk high - News

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Thai Hot Stocks-PTT down after Q3, Banpu hits over 2-wk high

By: AFX | 10 Nov 2009 | 11:23 PM ET

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BANGKOK, Nov 11 (Reuters) - Thailand's benchmark stock index was up 0.4 percent at 711.06 at 0346 GMT on Wednesday. Stocks on the move include: PTT DOWN AFTER Q3, CUT TARGET PRICE - BROKER Top oil and gas major fell 0.4 percent to 247 baht, adding to a 1.6 percent fall a day earlier after the company reported a 5 percent drop in quarterly net profit, dented by lower earnings from exploration and refining. Kim Eng Securities said in a note to clients that the result was better than expected, buoyed by gains from its refining and petrochemical businesses and higher-than-expected foreign exchange gains. The broker said it kept "buy" rating on the stock but cut its target share price to 297 baht from 323 baht. 0352 GMT BANPU HITS MORE THAN 2-WK HIGH ON BETTER Q3 The country's top coal miner gained 0.9 percent to 452 baht, coming off its highest since Oct. 26 of 454 at one stage, after its third-quarter net earnings rose a higher-than-expected 22 percent, helped by higher coal sale volume from Indonesia mines and gains from coal swap. 0354 GMT LAND & HOUSES UP AFTER SOUND Q3 Thailand's biggest house builder added 1.6 percent to 6.40 baht after posting a better-than-expected 35 percent rise in quarterly earnings after its home sales surged as consumer confidence improved. Kiatnakin Securities recommended a speculative buy on the stock with a target share price of 7.25 baht, expecting a strong 2010 performance due mainly to condominium sales. The broker said it forecast the company would pay a dividend of 0.19 baht in the second half of this year, accounting for a 3 percent dividend yield. 0356 GMT EGCO FLAT, PROJECT START-UP DELAYED The second-largest private power firm was unchanged at 75.25 baht after reporting a flat net earnings of 2.01 billion baht in the third quarter. The company said in a statement its 25 percent owned Nam Theun 2 power plant in Laos, which is now 99.54 percent completed, would begin its start-up operation in early 2010 instead of mid December this year as earlier planned. 0357 GMT - For the Thai press digest click on - For Thailand's IPO diary click on - For Thailand's stock exchange news click on - For Thailand corporate earnings: - For Thailand economic forecast: ($1=33.30 Baht) (Reporting by Ploy Ten Kate; Editing by Jason Szep) ((ploy.tenkate@thomsonreuters.com; +662 648 9735, Reuters Messaging: ploy.tenkate.reuters.com@reuters.net)) * ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E.

Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... * OTHER MARKETS: Wall Street .... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe * DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Thailand diary Wall Street Week Ahead Eurostocks Week Ahead * TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com * LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Thai baht LME price overview Keywords: MARKETS THAILAND/STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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