Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for February 7, 2011

/IRBIS. February 7, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for February 7, 2011. Analysts of JSC "BCC Invest" now expect a positive opening of trading and continued growth against growth of quotations of depositary receipts on Friday in London. JSC "BCC Invest" also noted the following important events in the Kazakh market: - Government will prepare a draft revised budget for 2011 until the end of February this year, said Mr. Karim Masimov Kazakh Prime Minister. "Perhaps, given the employment program, on encouraging the construction, rehabilitation of enterprises under the program" Business Road Map, "this month, we group together all these matters and turn to the deputies about the possibility of clarifying the budget (for 2011 - IF- K") "- he said, speaking at the Ministry of Economic Development and Trade on Friday in Astana. "The macroeconomic situation allows (to adjust the national budget - IF-K"), budget revenues increased by stabilizing the economy and the challenges that the president has put before us, we will begin to carry out their right now in 2011, and possibly unload Budget in 2012 due to withdrawal of its costs this year, "- said the prime minister. As reported, revenues and expenditures of the republican budget for 2011 is planned in the amount of 4 trillion 041 billion KZT and 4 trillion 643.8 billion KZT, respectively. Current rate - 146.75/$ 1. The national budget deficit for 2011 is planned in the amount of 602.5 billion KZT (2.8% of the GDP). - Chief Executive Officer of ENRC PLC goes down. According to a press release, the company announced the decision of Chief Executive Officer Mr. Felix Vulis voluntary resignation for personal reasons. Mr. Felix Vulis intends to continue its work until the appointment of a successor. The company plans to convene a Nominating Committee to consider suitable candidates for the post of chief executive officer, with the subsequent announcement of the results. On the official website states that Mr. Felix Vulis is the position of Chief Executive Officer since August 2009 and also oversees the Committee on Health, Safety and Sustainable Development Unit. Earlier, before his appointment as Chief Executive Officer Mr. Felix Vulis served as Chief Operating Officer of ENRC from December 2006. Analysts JSC "BCC Invest" does not expect further negative impact on share prices ENRC PLC, as we believe that the market has already reacted to the news, but do not exclude the fact that trading on the Kazakhstan market may undergo a decrease in quotations on the background of their slides on the London trading floor. JSC "BCC Invest" leaves the updated recommendation to "hold" with a target price of 11.67 pounds (2,767 KZT) per share. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data on official international reserves, the reserve fund and fund of national welfare. - in 15:30 (AST) will be published data on the Euro zone index of investor confidence from Sentix. At 17:00 (AST) in Germany to be published data on industrial orders. - In the U.S. publication of important economic statistics are expected. - Today report OJSC Gazprom, Lorillard Inc, and others. Analysts of JSC "BCC Invest" give the following advice for investors in securities of issuers in the domestic Kazakh market:: ---------------------------------------------------------------------- Issuer Last price Target Predicted price. code price % Recom- mendation ----------------- ------- ---------- ------ ---------------- --------- Kazkommertsbank KKGB 570 479 -15.96 Neutral KKGBp 230 335 +45.65 Buy Halyk Bank HSBK 420 432 +2.86 Hold Bank CenterCredit CCBN 659 646 -1.97 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 19,200 22,300 +16.15 Buy Kazakhmys PLC GB_KZMS 3,800 3,977 +4.66 Hold ENRC PLC GB_ENRC 2,510 2,767 -10.24 Neutral Kazakhtelekom KZTK 19,650 19,200 -2.29 Hold KZTKp 9,100 9,300 +2.20 Hold MREK MREK 1,100 1,130 +2.73 Hold ---------------------------------------------------------------------- The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material. [2011-02-07]