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Thai Hot Stocks - Quality Houses, ITD, Energy up
BANGKOK, June 6 - Thailand's benchmark stock index was up 6.55 points, or 0.81 percent, at 816.37 points in thin turnover of 16.3 billion baht at 0912 GMT on Friday.
Stocks on the move included:
QUALITY HOUSES UP ON STRONG Q2 OUTLOOK
Quality Houses surged 4.3 percent to 2.44 baht, having hit a four-day high of 2.46 baht, after Kim Eng Securities said tax incentives would boost the company's second-quarter net profit.
The broker rated the stock a "buy", noting that rising oil prices and lending rates had been factored into the market.
"QH should see upside from government tax incentives driving earnings," the broker said.
ITALIAN-THAI UP ON NEW CONTRACTS
Contractor Italian-Thai Development rose nearly two percent to 7.75 baht, extending its two-day rally, after the firm said it had signed two construction contracts in Bangkok worth a combined 686.3 million baht.
ENERGY SHARES <.SETEN> UP ON RISING OIL PRICES
Energy firms jumped 2.09 percent as oil rose above $128 a barrel and the U.S. dollar weakened on signals from the European Central Bank that it may raise interest rates this year.
At 0914 GMT, U.S. crude <CLc1> was up 1.43 percent at $129.63 a barrel.
Top oil and gas firm PTT PCL rose 2.5 percent to 332 baht, having hit an one-week high of 334 baht. PTT Exploration and Production climbed 3.4 percent to 183 baht.
COAL PRICE BOOSTS BANPU
Coal miner Banpu extended its recent gains, rising 3.4 percent to 484 baht, coming off a near two-week high of 488 baht in early trade after coal prices hit a record $152.45 a tonne due to solid demand.
Asia Plus Securities expected Banpu's 2008 net profit to rise 35 percent from a year earlier due to higher coal prices.
The broker gave a "buy" rating on the stock with a target share price of 564.07 baht.
PALM OIL PRODUCERS GET LIFT FROM HIGH PRICES
Palm oil producers rose as higher crude palm oil prices fuelled expectations of stronger earnings this year.
Lam Soon was up 2.5 percent at 4.86 baht, while United Palm Oil gained 3.8 percent to 81.50 baht. Univanich climbed almost three percent to 86.50 baht.
Thai Vegetable Oil , Southeast Asia's largest soybean oil producer, surged 6.1 percent to its all-time high of 24.20 baht.
- For the Thai press digest click on [ID:nBKK197278]
- For Thailand's IPO diary click on <TH/IPOMENU>
- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
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