Forecast and recommendations of BTA Securities (Kazakhstan) analysts on August 4, 2009

/IRBIS August 4, 2009/ - JSC "BTA Bank"s subsidiary "BTA Securities" (BTA Securities, Almaty) has provided IRBIS with a survey of main events and Investment ideas and forecasts for August 4, 2009. According to the report, the company analysts expect: - the Europe and the USA markets most likely will continue increase, after the basic indexes have punched psychological levels yesterday. Today, a support to the markets will be provided by corporate results and positive macro-data across the USA. Thanks for positive data on sales of auto leaders, the European market can go to upwards, today - manufacturers of region: Fiat, Daimler and Volkswagen AG. The American markets will support positive financial results from Centex Corp and Chesapake Energy. Macro-data on concluded purchase contracts of residential and consumer confidence of the USA, most likely, will be positive. The prices for oil and metals should continue increase on expectations of the further easing of the American dollar in immediate prospects. The American currency has punched psychological level at 1.43 points yesterday. Dynamics of futures for the basic indexes of Europe and the USA says about growth of the European market today. The technical analysis gives a signal to upwards. - KASE index can continue increasing thanks to growth of the world share markets and the prices for oil and metals the day before. - stock quotes and GDR of JSC "National savings bank of Kazakhstan" have continued increasing yesterday and considerably exceeded targets for this year. At these current levels the analytics of "BTA Securities" recommend to fix up profits on them. Besides on that the analysts of "BTA Securities" also consider that the strong growth of stock quotes and receipts of JSC "Kazkommertsbank" fundamentally is not proved. GDRs of bank have already reached $4.4 point, which is above than our target level for this year on 19 %. - growth in oil market on positive moods after signs of restoration of economy of the USA and China will proceed, however by the end of the American trading session data of institute API on oil stocks can be negative, as well as week before, that will cause decrease in quotations. Corresponding dynamics should be expected on stocks of oil and gas companies. - analysts of "BTA Securities" keep positive expectations on prices for metals and quotations of the domestic metallurgical companies, thanks to recently charge of optimism received by the markets. Nevertheless, expected correction of the American dollar after considerable easing can put pressure upon raw materials cost. - strengthening of US dollar concerning euro against a positive on Pending Home Sales the USA on August 04 is expected. The given material has exclusively information character and is not the offer or the recommendation to make any transactions with the stocks. Agency "Irbis" doesn't take responsibility for the opinions which are in given material. [2009-08-04]