Oil Prices Rise, Investors Eye Mining Shares

kilang minyak
Sumber :
  • www.dpi.vic.gov.au

VIVAnews - Stock analysts believe investors will be eyeing mining shares following the soaring world oil prices which have now hit US$100 per barrel.

Director of PT Capital Bridge Indonesia, Haryajid, said investors will still go for shares on mining sectors as crude oil prices tend to fluctuate sharply. Oil volatility has then resulted in the increase of commodities' prices like coal which is now valued at US$129.48 per ton.

Haryajid suggested investors put in investments in coal mining today which includes PT Borneo Lumbung Energy, PT Bumi Resources, and PT Indo Tambangraya Megah.

Based on data from the Indonesia Stock Exchange, Borneo Lumbung was yesterday listed as fourth most purchased share at 3,143 times of frequence. "In addition, Bumi just settled transactions with Vallar Plc," said Haryajid.

Despite the fall in its net profit, Indo Tambangraya is expected to gain positive sentiments this year. As for share trade, Indo Tambangraya was listed seventh most traded share at 1,976 times of frequence.

Mastono Ali, an analyst with CIMB Securities Indonesia said in a statement that the commodities' shares are likely to be anticipated by market players.

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VIVA.co.id
20 April 2024