The review of key events and forecasts from "ASYL INVEST" JCS (Kazakhstan) analysts for August 26, 2011

/IRBIS, August 26, 2011/ - "ASYL INVEST" JCS (Almaty) has provided IRBIS with the review of key events and its investment ideas and forecasts for August 26, 2011 Analysts of "Asyl Invest" indicate that the news background for the domestic market today is neutral. Before the performance of Fed Bernanke in Jackson Hole today domestic investors are unlikely to make any investment decisions. Certainly investors will focus on specific ideas, chief among which are now shares of Kazakhmys. Issuer after the crash in August at the lowest traded price levels compared to other players in the market shares of copper. Yesterday's news that the company launched a repurchase program of ordinary shares with a market worth $ 250 million, according to the "Asyl INVEST", will support long quotations, because price conditions prevailing at the moment are extremely attractive to the program. Redemption will increase earnings per share and the fundamental value of securities. Long-term prospects for the company's business prospects remain favorable. Copper deficiency in the market will keep prices high and the profitability of the industry and company in the next 6 years, plans to continue to increase production from new projects to meet demand in Asia. Besides, ASYL INVEST analysts note the following events on world markets: - The number of initial claims last week rose by 12 thousand to 417 thousand, economists had expected claims to decline by 3 thousand to 408 thousand a week earlier. Fall was also due to significant reduction in the German index after speculation that the restrictions on short selling will be enhanced, intensified. Indices suffered heavy losses, more significant than the stock market indicators in France, Great Britain, Italy and Spain. - Asian market today does not determine the direction of motion. Pressure on the market has a negative end of trading in the U.S. on the eve of the weak unemployment data, as well as expectations of weak revised data on the U.S. economy for the second quarter, which will be published today. Support to the market has speculation that Bernanke speech in Jackson Hole today may announce measures to stimulate the economy. Futures for U.S. indices are currently increasing. Hang-Seng index from the start of trading has lost 0.1%, Nikkei, on the contrary, adds 0.1%, the Shanghai index suffered the most significant loss, decreasing by 0.7%. - Concerns yesterday embraced the German markets, sending the DAX index down by 4% over a short period of time, although by the end of the day index played loss to - 1.7%. The euro is now trading in Asia on rising against the dollar on expectations of weak data on the U.S. economy today and the likelihood of scoring the new head of the Fed's stimulus. Economists expect that the revised data on U.S. GDP growth in the second quarter will be worse than the original estimates by 0.2 percentage points. Other statistics show the U.S. could increase private consumption by 0.2% in the second quarter against the original estimate of 0.1%. Michigan's consumer confidence index in August could reach 55.8 points in the final assessment against 54.9 points on the original mid-month assessment. - Yesterday, oil prices have shown modest growth, adding in U.S. and Europe 0.2 and 0.5% respectively. Prices for copper for delivery in three months rose by 1.8%, zinc and lead rose in price by more than 2%. Gold rose after two days of decline in price by 0.8%. Today, commodity market shows vague dynamics. Gold has hardly changed in price. U.S. oil shows a moderate decline, while in Europe - poor growth. Copper is growing weaker pace at auction in Shanghai and New York is reduced by 0.5%. Investors seem to have decided to wait for the key events of the day and at least until the release of statistics on the U.S. market is unlikely to come to some kind of opinion about the direction of motion. The present material is exclusively informative and isn't an offer or recommendation to conclude any deals with stock. "IRBIS" Agency doesn't take responsibility for the opinions, given in the present material. [2011-08-26]