Forecast and recommendations of BTA Securities (Kazakhstan) analysts on September 10, 2009

/IRBIS September 10, 2009/ - BTA Securities Subsidiary of BTA Bank (Almaty, BTA Securities) provided its main survey of events and investment ideas and forecast to IRBIS on September 10, 2009. According to the report, the company analysts expect: - today is not ruled out further enhance of quotations of major indexes in Europe and the USA. Oil prices may rise again, because rally of the euro against the dollar promises to continue. Data on reserves of oil and gasoline in the U.S. may also be better than expected. Positively affect to the market dynamics should investors' optimistic expectations regarding the data on industrial production in China, which coming today. Production in China must grow by 11.8% in August. Today the shares of technologic sector can provide support to the market, after Texas Instruments forecasts of revenues and profits for the third quarter exceeded analysts' expectations. Today existing data on the primary applications for unemployment benefits in the U.S. is expected positive. The best data on unemployment can only provoke further decline of the dollar, which will strengthen the dynamics of oil and metals prices and the stock market. Dynamics of futures for the major indexes still says in favor of their overall growth today, both in Europe and the United States. - index of KASE, likely to continue to increase in response to expected growth in commodity markets today. Dynamics of shares in banks will be multidirectional. - optimism on foreign markets continued to support the shares of domestic banking sector, despite the fact that the majority of shares of the sector has significantly overestimated and carries risks of a strong fall in case of change of sentiment. Analysts of BTA Securities still recommend selling of shares of Kazkommertsbank and Halyk Savings Bank of Kazakhstan, as their current market prices by more than 15% higher than the target levels for this year. After yesterday's rally of shares Kazkommertsbank today they might fall, while more fundamentally strong shares of Bank CenterCredit, must rise to attractive levels. The growth potential of the latter is 28%. - in the near future oil prices will depend on the dynamics of change of its stocks in the United States. Analysts forecast that the weekly report of U.S. Department of Energy, published this week, will reduce supplies of crude oil in the country at 1.6 million barrels. In addition, the expected reduction in gasoline stocks to 1.5 million barrels. Also to support oil prices can expected to continue of U.S. dollar weakening. - the analysts of BTA Securities expect an increase of stock price of domestic steel companies due to higher commodity prices, supported by further weakening of U.S. dollar. Today a great importance also will be published macro data, in particular - the data on industrial production in China. - on 10th of September is expected weakening of U.S. dollar against the euro on positive U.S. labor market and the U.S. stock markets quotations growth. 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. [2009-09-10]