Market reviews and recommendations of analysts of BCC Invest JSC (Kazakhstan) for February 24, 2010

/IRBIS, February 24, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for February 24, 2010. Analysts of JSC BCC Invest now expects that the Kazakhstan stock market will experience dynamic changeable under the influence, on the one hand, the head of the Fed statement about interest rates and investors concerns about the budget problems and a possible reduction in credit ratings of Greece, on the other side. Analysts of JSC "BCC Invest" expect weak neutral dynamics of the Kazakh stock market before the opening of trading in Europe, and then will set the tone of European traders, and the course of trading on KASE will be determined by the movement of quotations of depositary receipts of Kazakhstan's companies on the London Stock Exchange. JSC "BCC Invest" also noted the following important events in the Kazakh market: - JSC Kazakhtelecom as part of the strategy and program of asset restructuring, approved by the board of directors, announced that is currently exploring options to sell 77.08% stake Nursat. Kazakhtelecom invites investors interested in stock options Nursat contact the company at term to 04 March. Kazakhtelecom intends to conclude a deal before the end of May 2010. The company does not disclose the value of sold shares. Analysts JSC "BCC Invest" indicate that the lack of information the estimated amount of the transaction is currently not possible to assess the effect that the transaction will have on the stock quotations of JSC Kazakhtelecom. AO Nursat occupies an insignificant portion of total revenue AO Kazakhtelecom (about 2% in our estimation), and its sale in our opinion would not a substantial loss of revenue AO Kazakhtelecom. Analysts AO "BCC Invest" assess the transaction amount in the range of KZT1.3 billion ($ 7-20 million.) Analysts confirm the recommendation to "hold" on common shares KZTK c target price of KZT17,800 per share and "buy" on preferred shares KZTKp with a target price of KZT10,300 per share. - JSC KazMunaiGas EP from March 1 will announce its financial results for the fourth quarter of 2009, the company said. Conference call for investors and analysts will be held at 18:00 AST (12:00 London) on the same day. The data for the participation a conference call: number of participants +44-20-8515 2302, code - KazMunaiGas 4Q Results. Analysts of JSC "BCC Invest" are also waiting for the next events in the international markets: - on Russian markets today are data on the growth of foreign direct investment in the country for the fourth quarter of last year and the state's gold reserves at the end of last year. At the opening of today's trading analytics JSC "BCC Invest" expect moderate adverse market movements, which may be caused by the negative influence of the external background and the continuing weakening of the single European currency. - European markets today are data on unemployment in Germany in February that it would be one of the major economic events of the day. In addition, to be published indexes of consumer and industrial confidence in France and the euro area in February, and the data on the growth of investment in the UK for the fourth quarter of last year. Today the majority of the shares of Asian companies traded in the red on the background of re-surging concern for Greece, leaving analysts JSC "BCC Invest" expect a negative mood at the opening of the trading day in European countries. - on the U.S. markets again today the market will closely monitor the performance of another Ben Bernanke before Congress. Plus, the financial markets may affect economic statistics, which today will please plenty of publications. Most interesting will be the publication of data on the growth of orders for durable goods and initial applications for unemployment benefits. - Today also held an auction on placement of 7-year-old Treasury bonds, which once again expected to be high volume deployment. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: ---------------------------------------------------------------------- Issuer Last price Target Predicted price, code price % Recom- mendation ----------------- ------- ---------- ------ ---------------- --------- Kazkommertsbank KKGB 610 695 13.85 Hold KKGBp 245 347 41.76 Hold Halyk Bank HSBK 359 335 -6.82 Hold Bank CenterCredit CCBN 750 947 26.27 Buy KazMunaiGaz RDGZ 21,200 21,100 -0.47 Hold Kazakhmys PLC GB_KZMS 3,070 3,528 14.92 Hold ENRC PLC GB_ENRC 2,400 2,709 12.88 Buy Kazakhtelekom KZTK 18,000 17,800 -1.11 Hold KZTKp 8,100 10,300 27.16 Buy ---------------------------------------------------------------------- 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. [2010-02-25]