June 24, 2013 / 7:57 AM / 5 years ago

STOCKS NEWS THAILAND-Airline shares up as tourist arrivals rise

Shares in Thai Airways International Pcl, Asia Aviation Pcl and Nok Airlines Pcl rose on Monday after a broker highlighted an increase in the number of tourists flying into Thailand this year.

Thai Airways shares were up 1.67 percent at 24.40 baht after touching 25.25 baht and Nok Airlines stock was up 0.88 percent at 28.75 baht after touching 29.75 baht. However, Asia Aviation was down 0.92 percent at 5.40 baht, after at one point reaching 5.60 baht.

“The number of foreigners coming into Thailand has increased 19.04 percent during January to April this year from the previous year according Ministry of Tourism and Sports data,” KGI Securities said in its report.

The research house also said the Tourism Authority of Thailand expected to raise its targeted number of foreign tourists coming into Thailand from 24.5 million this year to 30 million by 2015. 1441 (0741 GMT) (Reporting by Pairat Temphairojana; Editing by Anupama Dwivedi) ************************************************************ 14:29 STOCKS NEWS THAILAND-Maybank keeps “buy” on CP All, cites outlook Maybank Kim Eng Securities maintained its “buy” rating on the shares of CP All PCL CPALL.BK, citing expectations of solid second-quarter earnings. CP All’s second-quarter earnings could grow 15 percent year-on-year, driven by 150 new branches and promotions. However, sales in June might come under pressure due to the rainy season, Maybank said in a report. “We expect CP All to consolidate the Makro financial statement from third quarter of 2013, while CP All’s normal operations should remain healthy. We maintain our positive view on CP All based on the long-term growth potential,” it said. Siam Makro MAKR.BK is Thailand’s largest convenience store that was recently acquired by CP ALL. The two companies have combined sales of more than 300 billion Thai baht ($9.66 billion)(Full Story) The research house recommend that investors buy on any weakness in the share price, with a target price at 48 baht. At the midsession break, the shares were up 1.38 percent at 36.75 baht, while the broader SET index was down 0.68 percent. 1415 (0715 GMT) ($1 = 31.0500 Thai baht) (Reporting by Pairat Temphairojana; Editing by Anupama Dwivedi)

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