Indonesia's Astra exec says it will not sell stake in Bank Permata
JAKARTA, Feb 24 Indonesian conglomerate PT Astra International Tbk will not sell its stake in lender PT Bank Permata Tbk, the company's top executive said on Friday.
By Theopolis Waters CHICAGO, Feb 9 Chicago Mercantile Exchange live cattle futures settled higher on Thursday, helped by technical buying and this week's steady-to-firmer cash prices, said traders and analysts. They said the prospect of increased supplies capped back-month futures advances. February live cattle closed 0.875 cent per pound higher at 117.650 cents, and above the 40-day moving average of 117.091 cents. April ended up 0.075 cent to 114.825 cents. First-quarter cattle supplies will remain tight, but could grow later based on two most recent U.S. Department of Agriculture cattle reports, said U.S. Commodities President Don Roose. This week, packers in the U.S. Plains bought slaughter-ready, or cash, cattle at $119 to $120.50 per cwt, steady to up $1.50 from last week, said feedlot sources. Wednesday's Fed Cattle Exchange (FCE) sales ranged from $115 to $120.50 per cwt, with an average price of $117.50 versus last week's $119 average. Prices for cattle on a live basis in the North were lower than in the South because of recent weather issues that resulted in animals with mud on them, said Roose. Cattle carrying mud increases live weight and costs packers valuable time in cleaning the animal before processing. Investors are closely monitoring heavy snow in the Northeast United States that could hurt meat demand in the nation's most populous region. Thursday morning's choice wholesale beef price was down 34 cents per cwt to $189.09 from Wednesday. Select cuts dropped 40 cents to $186.09, the USDA said. Fund buying and late-day live cattle futures gains rallied CME feeder cattle contracts. March feeders closed 1.325 cents per pound higher at 123.625 cents. MOSTLY LOWER HOG CLOSE Investors sold deferred month CME lean hogs and simultaneously bought the February contract stirred by upward-trending cash prices, said traders. They said profit-taking and increased hog production in the coming months further pressured back months. February hogs ended 0.875 cent per lb higher at 74.225 cents, and hit a new contract high of 74.350 cents. Most actively traded April closed 0.950 cent lower at 70.775 cents, and May down 0.925 cent to 74.800 cents. Thursday morning's cash hog price in Iowa/Minnesota averaged $70.60 per cwt, 48 cents higher than on Wednesday, the USDA said. "Huge demand by packers is overcoming the big supplies," said Roose. He added that overall pork demand remained good according to last month's USDA cold storage data that showed record tight December inventories. (Reporting by Theopolis Waters; Editing by Peter Cooney)
** IPO seeking to raise up to 18.7 billion Indian rupees ($280.4 million) Source text for Eikon: http://bit.ly/2mr9xj9 Further company coverage: ($1 = 66.6850 Indian rupees) (Reporting by Devidutta Tripathy)
JAKARTA, Feb 24 Car sales in Indonesia are seen rising between 3 percent and 4 percent this year, said Sudirman Rusdi, director of the country's biggest car distributor PT Astra International Tbk, on Friday.