EDL-Gen extends into 4 day rally
EDL-Gen extends into 4 day rally
EDL-Gen September 20 maintained an unabated 4 day rally at a very stubborn September price resistance level of 4,900 kip.
The stock market Thursday opened up on some strong EDL-Gen volumes which were almost equal to the previous day's, in the opening session, the first of six half hourly settlements. Trading patterns remained very much unchanged. BCEL (7,500 kip) made an early entrance up +100 kip on a small trade of just 4,000 stocks from the opening bell. The index fell (7) points when EDL-Gen (4,850 kip) at 9am closed down -50 kip on a neat large parcel of 100K but then things fizzled out for both stocks with the next four sessions struggling to reach a total of just 117K shares. By the closing 11:30am session another 38K stocks crossed, of which 2½K were BCEL at 7,450 kip (+50 kip daily gain) and 34K EDL-Gen but at the 4,900 kip previous day's close. The index turnover for the day increased by +US$21½ K or 28 percent.
Events calendar: Tuesday (30-Oct) Boun Ok Phansa (Buddhist Lent ends). Wednesday (31-Oct) Vientiane boat racing festival. (28-Nov) Vientiane's That Luang Festival. (2-Dec) is Lao National Day but the holiday will occur Monday (3-Dec). LSX will traditionally be closed on (26-28 Dec), the last 3 business days of the year.
Lao Stocks key statistics: Bloomberg's website key statistics data report (19-Sep) shows a very favourable stock price at a 25 percent for a (1 year) YoY return for EDL-Gen:
• EDL-Generation PCL bloomberg.com/quote/EDL:LS/key-statistics1-Yr Return: (+25.08%) 52wk Range: Low 4,100.00 – High 5,100.00 LAK-Kip.
• Banque pour le Commerce Exterieur Lao bloomberg.com/quote/BCEL:LS/key-statistics 1-Yr Return (-2.63%) 52wk Range: Low 5,700.00 - High 8,150.00 LAK-Kip. Excluding the August 2012 declared dividend other figures were Current P/E Ratio (ttm) 6.6607, Earnings Per Share (ttm) 1,111 LAK-Kip, Average Volume (5-day) 70,450, 30-day Average Volume 70,428.
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