(Adds AIS, Makro)
BANGKOK, Nov 9 (Reuters) - Thailand's benchmark stock index
.SETI was up 0.54 percent at 702.41 at 0432 GMT on Monday.
Stocks on the move included;
ADVANCED INFO SERVICE ADVA.BK UP ON OUTLOOK
Top mobile phone firm rose 1.17 percent to 86.25 baht,
having hit a one-week high of 86.50, as brokers remained
positive on its outlook after it reported a
better-than-expected quarterly net profit last week.
[ID:nBKK127654]
"AIS's strong free cash flow and balance sheet should help
support a generous dividend payout policy and hence an
attractive dividend yield ... Cost savings from a shift to 3G
licensing should drive better earnings in the medium term,"
Citigroup said in a research note.
The broker rated AIS as a "hold" with a target price of 98
baht a share.
0403 GMT
SIAM MAKRO MAKR.BK UP ON BETTER-THAN-EXPECTED Q3
Shares in Thailand's leading cash-and-carry wholesaler
climbed 0.61 percent to 82 baht, although the company reported
a 17.4 percent fall in third-quarter earnings. Kim Eng
Securities upgraded its earnings forecast for Siam Makro due to
higher revenue and rising cash margins.
"With the rise in the cash margin, we're upgrading our
earnings forecast for Siam Makro by 9 percent for 2009 and 10
percent for 2010 ... We're raising the target price to 94 baht
from 86 baht," Kim Eng said.
0407 GMT
MINOR INTERNATIONAL MINT.BK DOWN AFTER POOR Q3
The operator of luxury hotels and global food franchises
fell 2.65 percent to 11 baht after it reported a
worse-than-expected 60 percent fall in third-quarter net profit
to 152 million baht, compared with 376 million baht a year
earlier. [ID:nBKK482185]
The company attributed the decline in earnings to an
absence of residential sales and a sharp drop in hotel
occupancy.
0309 GMT
KCE ELECTRONICS KCE.BK UP AFTER UPBEAT Q3
The printed-circuit-board maker rose 1.4 percent to 4.40
baht after it reported a net profit of 124 million baht in the
third quarter, up 92 percent from a year earlier, boosted by
higher profit margin.
0304 GMT
SINO-THAI ENGINEERING STEC.BK AT ONE-WEEK HIGH
Thailand's third-largest construction firm rose 1.5 percent
to a one-week high of 6.95 baht after it reported a
third-quarter net profit of 76 million baht, up 73 percent from
44 million baht a year earlier, helped by rising gross margins
and falling costs.
0303 GMT
- For the Thai press digest click on [PRESS/TH]
- 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]
($1=33.34 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
