Business

Tue May 27 02:19:11 PDT 2008

(Adds Loxley, ITD)

BANGKOK, May 27 (Reuters) – Thailand’s benchmark stock index <.SETI> was up 0.56 points, or 0.07 percent, at 857.36 points in thin turnover of 12.2 billion baht ($378 million) at 0820 GMT on Tuesday.

Stocks on the move included:

LOXLEY <LOXL.BK> UP ON ANALYST PROFIT FORECASTS

Conglomerate Loxley rose 3.52 percent to 2.94 baht after Trinity Securities said in a note it expected the firm to report higher 2008 earnings and 2009 after the Finance Ministry said the firm would begin selling a new on-line lottery in September.

"We estimate additional profit to LOXLEY by 30 million baht this year and another 90 million the next year," the broker said.

ITALIAN-THAI <ITD.BK> UP ON GOVT’S UNDERGROUND PLAN APPROVAL

Contractor Italian-Thai Development jumped 3.47 percent to 8.95 baht, having hit its six-day high of 9.10 baht as analysts expect the firm would benefit from the Cabinet’s approval of the extension of Bangkok’s underground railway worth about $1.74 billion.

Other contractors also rose, with Sino-Thai Engineering <STEC.BK> up 1.3 percent at 4.70 baht and Ch Karnchang <CK.BK> up 0.7 percent at 7.30 baht.

PREMIER MARKETING <PM.BK> DOWN ON DEBUT

Debutant Premier Marketing fell 2.58 percent to 3.02 baht from an initial public offering price of 3.10 baht.

The stock opened flat on its debut as weak market sentiment eclipsed a strong earnings outlook.

STEEL COMPANIES <.SETIM> RISE ON STRONG SECTOR PROSPECTS

Domestic steel maker Nakornthai Strip Mill <NSM.BK> jumped 3.2 percent to 0.65 baht, having hit a two-year high of 0.69 baht, on positive analyst reports on the sector due to rising global steel prices and demand.

Samchai Steel Industries <SAM.BK> was up two percent at 2.04 baht after Kaohoon Turakij newspaper said the firm had raised its 2008 revenue growth forecast to 40 percent from 10 percent due to strong demand from China.

- For the Thai press digest click on [ID:nBKK154415]

- 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=32.30 Baht)

(Reporting by Ploy Chitsomboon; Editing by Anshuman Daga)

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