Thursday, February 18, 2010

IOI rises as Stanchart says buy planters

Posted by yuslina at 1:57 AM

IOI Corp, a Malaysian plantation company, rose the most in more than three months in Kuala Lumpur trading after Standard Chartered Bank recommended investors should buy plantation stocks to take advantage of resurgent crude palm oil prices.

The stock rose 1.9 per cent to close at RM5.32 in Kuala Lumpur trading.

Palm oil prices have enjoyed their longest rally in more than a year, closing February 12 at RM2,579 (US$754) a metric ton. -- Bloomberg

 

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