Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for February 8, 2011

/IRBIS. February 8, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for February 8, 2011. Analysts of JSC "BCC Invest" is awaiting the opening of trading on a neutral background multidirectional closing on shares and depositary receipts of Kazakhstan issuers on the eve of London. Further, during the day, the dynamics of trading on the Kazakhstan stock market will depend on investor sentiment in the western trading floors. JSC "BCC Invest" also noted the following important events in the Kazakh market: - The court has banned two of the island Nevis subsidiary of OJSC MMC Norilsk Nickel "- Corbiere and Raleigh - voting shares owned by them quasitreasury and blocked a deal to sell stock in MMC Netherlands company Trafigura, the report said UC Rusal. This decision was made in the petition meet Rusal to impose interim measures. These security measures in effect until March 2, when will the next hearing. The next hearing Rusal will present their arguments as to why Corbiere and Raleigh do not have the right to vote or transfer their shares Norilsk Nickel, as well as take further action in respect of transactions with Trafigura. As explained in the message, "Rusal" appealed to the court of the island Nevis, trying to prevent damage arising as a result of repurchase of shares of MMC and the transaction with the company Trafigura. Previously, the company has repeatedly stated that the decision of the Board of Directors of MMC on redemption of 6.2% stake in Norilsk Nickel at a premium to the market value of securities taken a little more than a week after announcing the sale of 8% packet quasitreasury shares at a lower price Netherlands Trafigura, "is unlawful and harms the company's shareholders and destroys its value." As a matter of "Norilsk Nickel" confirm the imposition of such interim measures, and claim that "the structures of MMC plan to appeal the verdict." As they say in the decision to impose interim measures (available to the Interfax news agency), it can be appealed within five working days. The decision was dated on February 3. Quotations stake in Norilsk Nickel on the news about the imposition of provisional measures on Monday, February 7, at 15:10 Moscow time fell by 2 7%, to 7,236 rubles per share. Analysts of JSC "BCC Invest" expect a moderately negative impact of these events on the quotation of equity securities of MMC Norilsk Nickel. Corporate conflict escalates; however, JSC "BCC Invest" leaves the current recommendation to "hold" with a target price of $ 25.08 per depositary receipt. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data on the contingency fund and the National Welfare Fund - in 06:01 (AST) in the UK were published data on retail sales of BRC and an index of housing prices from RICS. In France, in 13:30 (AST) will be published data on the index of business sentiment from the Bank of France, and in 13:45 (AST) - for the balance of the budget and trade balance. At 17:00 (AST) in Germany to be published data on industrial production. - U.S. at 18:30 (AST) will be published data from the optimism of small business from the NFIB, and 21:00 (AST) - an index of economic optimism of the IBD / TIPP and the JOLTs - to open vacancies. - today reports UBS AG, Toyota Motor Corp, ArcelorMittal, Xstrata PLC, BG Group PLC, Gazprom OJSC, 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 585 479 -18.12 Neutral KKGBp 230 335 +45.65 Buy Halyk Bank HSBK 435 432 -0.69 Hold Bank CenterCredit CCBN 658 646 -1.82 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 2,455.01 2,767 +12.71 Hold Kazakhtelekom KZTK 20,000 19,200 -4.00 Hold KZTKp 9,100 9,300 +2.20 Hold MREK MREK 1,210 1,130 -6.61 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. [2011-02-08]