The review of key events and forecasts from "ASYL INVEST" JCS (Kazakhstan) analysts for September 13, 2011

/IRBIS, September 13, 2011/ - "ASYL INVEST" JCS (Almaty) has provided IRBIS with the review of key events and its investment ideas and forecasts for September 13, 2011 Analysts of "Asyl Invest" indicate that the news background for the domestic market today is moderately positive. Rising prices for industrial metals and oil may inspire investors to purchase. However, in the medium-term uncertainty persists, Greece is still close to default, the euro under pressure due to debt problems and economic recession in the region, commercial banks in Europe have risk rating downgrades and the inter-bank credibility in the region falls. It is therefore possible that the activity of the players today at KASE will be low, and purchases at the market will be weak. Besides, ASYL INVEST analysts note the following events on world markets: - Today the reason for the growth at the end of U.S. session was the news the Financial Times that Italy is negotiating with China for possible investments in the country of its government bonds. Significant early losses in the indices have been caused by increasing fears of a possible default of Greece, two-year yields on bonds of which have already reached 60%. - Today Asian session is held in positive territory after the price of oil and industrial metals have gone up in the correction of the previous dip. The news of the talks in Italy and China on possible investment in the last bond with the country's third-largest euro area economy and support indexes. The Nikkei today is growing at 0,3%, Shanghai Composite drops 1.5%, playing the latest developments in the market after a one-day hiatus due to vacation. - Support for the euro yesterday was provided investors' buying on the strong level of support of 1.35, which was achieved in the Asian session. At the end of the trading day the euro backed news that Italy is in talks with China on possible investment in its bonds. Today, the euro/dollar is kept at elevations reached yesterday. Restrained dynamics of the course is related to speculation that Greece is close to default, and the ECB rate can be lowered to the end of the year. In addition, investors are not actively in a hurry to buy the currency before today's auction on placement of bonds in Italy. - Yesterday, crude oil added in cost on the news in Italy. In Europe, progress in oil prices has been weak on OPEC statement that Libya will be able to recover most of its oil production within six months. Industrial metals fell yesterday on concern a price on Greece. Today, commodity markets are growing. WTI crude oil is growing by almost 1% on speculation that stockpiles of crude oil and petroleum products in the U.S. fell last week. Copper in electronic trading in New York is growing at 1.1%. Gold once again in demand among investors because of the situation in the euro area and the global economy that remains mixed. 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. [2011-09-13]