STOCKS NEWS THAILAND-Bank of Ayudhya up on expectations of stake sale

Bank of Ayudhya Pcl shares jumped 5.6 percent to 37.5 baht, their highest in nearly 16 years, after Khao-hoon newspaper quoted a source as saying the stock exchange would suspend trading in the stock pending a stake sale announcement.

The bank denied the news report. "Reference is made to the news in some media concerning the acquisition of BAY's shares by a new investor ... we have not received a notification from GE, one of the strategic shareholder, that they have entered into a deal on this matter," it said in a statement.

The stock has gained almost 15 percent since June 24, outperforming a 10 percent gain of the banking sub-index , after reports that Japan's Mitsubishi UFJ Financial Group (MUFG) was in talks to buy a majority stake in the Thai bank in a deal worth over $4 billion.

1115 (0415 GMT)

(Reporting by Viparat Jantraprap in Bangkok; Editing by Prateek Chatterjee)