Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on September 29, 2010

/IRBIS, September 30, 2010/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on September 29, 2010. JSC Finance Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - major U.S. stock indexes finished the day in Europe and a decrease in quotations. In the absence of important publications macro statistics, market participants are likely to choose to focus on the factors of technical analysis. Thus, the American index S & P 500, after several unsuccessful attempts to capture the psychological resistance level at around 1,150 points by the end of the day fell by a quarter percent, in negative territory other major U.S. indices. There was no consensus among traders and European markets, the local indexes for most of the session, veering from side to side, but the closing date is still caught them below floating marks. More than all the French CAC 40 fell - his fall was about 0.67%, German DAX "fell" on 0.47%, the British FTSE 100 index managed to end the day only a nominal reduction - to 0.16%. Today in the United States is expected to yield the final data for GDP for the second quarter is expected to grow by about 1.6%. In addition, United States publishes data on business activity index Chicago PMI - analysts expect the decline to 0.8 points, to a level of 55.9 points. - the site of the emerging economies have completed the trading session in different directions: the Indian BSE and the Chinese SSEC fell by 0.7% and 0.02% respectively, Brazilian Bovespa and the Russian RTS rose by 0.01% and 0.7%. Note that if the negative emerging markets imported from the Western areas, then as was supporting quotations regional sites factor made a moderate increase in prices of basic commodities assets. External background before today's opening formed at the sites of emerging markets are more negative: in addition to the weak closure of European and U.S. indices, market participants will exert pressure and are now seeing the negative course of trading in Asia. - Oil prices in the middle of the last session were added at once about $2 a barrel, or 2.6% as a percentage. The main reason that prompted investors to buy contracts for the supply of "black gold", delivered weekly publication of data on changes in stocks of petroleum and petroleum products in the U.S., which last week unexpectedly plummeted. Thus, stocks Diesel fuel, instead of analysts' expectations of growth forecast by 400 thousand barrels, fell by 1.3 million barrels a similar dynamics also showed gasoline stocks, and that instead of the expected growth of 500 thousand barrels, fell by 3.5 million barrels. Oil reserves, in turn, decreased by 175 thousand barrels more than the expectations of market participants. The cost of "black gold", at the end of last session, crept close to the level of a six-peak, centered at the level above $ 78. Regarding the future prospects of oil prices, analysts of "REAL Invest.kz" believe that the growth in the coming days may be extended, but the probability that the price is durable and long can be fixed above the mark at $ 80 per barrel, according to the "REAL Invest.kz" very small. - The cost of ounce of gold, meanwhile, has cooled somewhat his championship fervor in recent weeks, and most of the past day reconsolidated. However, this does not prevent the quotations of "yellow metal" set a new historic peak, which is now at around $ 1,314 an ounce. Analysts of "REAL Invest.kz" believes that the value of contracts for the supply of gold may well be correct from current levels, while not ruled out the probability of continuation in the short term the current growing momentum. - two majors of the Forex market finished the session environment virtually unchanged, while if the EUR/USD by the end of the session fell after a small increase in the early days, the British pound on the contrary, it is added to the end of the session, offset by a decrease in quotations of the beginning of the day. Market participants, premonitory increase in steam EUR/USD and GBP/USD at least in the short term, as the main reason for such developments mark a fundamental weakness of the dollar against excessive U.S. budget deficit, as well as the intentions of the Fed to continue pumping liquidity into the economy to maintain growth recovery. Analysts of "REAL Invest.kz" believe that the British pound does have good potential to strengthen the U.S. dollar, which could further increase if breaking through a couple of marks in 1.60. At the same time, the euro, according to the "REAL Invest.kz", needs to be corrected after two weeks of uninterrupted growth for more than 7.5%. Analysts of "REAL Invest.kz" noted that the most attractive stories among the shares of Kazakh companies are RD Kazmunaigas, Kazakhtelecom and Halyk Bank. Especially attractive look and EP Kazakhtelecom, as both companies are very strong balance sheet with low debt burden, the EP's net debt at all negative, i.e. cash flows of the company exceed liabilities. Besides their business generates more free cash flow, which allows them to pay a very solid dividends. Dividend income on preferred shares of KMG and Kazakhtelecom is 6-8% and 3- 4% of ordinary shares. Shares of these companies are traded much cheaper than the shares of similar companies in other emerging markets. This material is for informational purposes and is not an offer or recommendation to perform any transaction in securities. Agency IRBIS is not responsible for the opinions expressed in this material. [2010-09-30]