Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 9, 2010

/IRBIS, March 9, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 9, 2010. Analysts of JSC BCC Invest now expects that the Kazakhstan stock market will experience continued technical rebound after the crash on Thursday against the backdrop of today positive mood of investors in Asia and growth in the commodities markets. Likely to have high activity on the shares of JSC KazMunaiGas EP on the eve of publication of the accounts for the fourth quarter of last year, which is projected JSC BCC Invest, expected after the market closes. JSC BCC Invest also noted the following important events in the Kazakh market: - Volume of oil and gas condensate in Kazakhstan in January- February 2010, according to operative data, was 12 mln. and 867.832 thousand tons, which is 7.5% higher from the rate of January-February of 2009. Including gas condensate were produced 827.466 thousand tons (100% YoY). In February, oil and gas condensate in Kazakhstan amounted to 6 mln. and 249.255 thousand tons, including 407.344 tons of gas condensate. Gas production in Kazakhstan in January-February 2010 amounted to 5 mlrd. and 854.710 million cubic meters, which is 1.7% higher than in 2009. Misrepresented the number of natural gas was produced 3 billion mln. and 22.932. cub meters (105.0% YoY). In February, gas production in Kazakhstan amounted to 2 mlrd. and 657.393 million cubic meters. - China plans to increase strategic reserves of grain, oil and nonferrous metals this year, reported Bloomberg referring to data from the Ministry of Finance of China. Active procurement of the Government of China in the first half of last year helped to stabilize commodity markets and prices for copper and zinc have doubled in a year, while imports of copper, soybeans and iron ore to China reached a record level. "News can support prices, but need additional details to assess the extent of the impact on individual commodities, - analyst Standard Chartered Bank in Shanghai, Judy Zhu - China is likely to wait until the prices of raw materials overseas will decline before make purchases. Of the metals governance of strategic reserves in China last year took on copper, aluminum, zinc, indium and titanium. It is expected that this year's list will not change. As stated in the message of the Chinese Ministry of Finance, on the management of reserves of grain, edible oil and other commodities were allocated 107.8 mlrd. Yuan (USD15.8 billion), which is 4.4% below last year. - March 5, JSC Exploration Production KazMunaiGas published on its official web-site press release on the situation in the manufacturing subsidiary of KMG EP Ozenmunaygaz, namely, the individual cases of violations of labor discipline and production activities. At the initiative of a group of 20-30 employees OMG 01 March almost an hour, was detained leave replacement workers to the oilfields, March 2 - 20 minutes, 3 March - 1 hour. A 04 March at work has not left more than half of shift workers and more than 800 units of special equipment. March 5, unofficial strikes continued. It is reported that the loss of daily production from suspension of production activities OMG, the preliminary estimate is within 1% of the consolidated mining KMG EP. The degree of influence on the performance of annual production company depends on how quickly stability is restored production activities of the branch. According to analysts of "BCC Invest", the situation in the PF OMG adversely affect the dynamics of stock price and depository receipts of KMG EP in the short term, but analysts "BCC Invest" believe that the management company will be able to normalize the situation and the impact on the quotation will be neutralized. 05 марта "BCC Invest "has issued a review of KMG EP, which were lowered price targets on shares and depositary receipts of the issuer, respectively, to KZT20,300 per share and $23.30 per GDR, saving recommendations on them to hold. - March 8, it has Max Petroleum PLC issued a message of completion of drilling exploratory wells KZN-1 in the area North Kyzylzhar 2 East Block E, which is the 2nd of 12 in the program of exploration drilling in promising areas oversaline Blocks A and E. Also this week expected to publish the results of testing wells BOR-1 in the area Borkyldakty Block E. According to "BCC Invest", the message is neutral for the stock price of the company, because it corresponds to earlier statement. Analysts of "BCC Invest" confirm the recommendation to "hold" on shares of Max Petroleum PLC and the target price of 21 pence per share. Analysts of JSC BCC Invest are also waiting for the next events in the international markets: - on Russian markets today are data on the volume of exports and imports in the country in January and, accordingly, the value of the trade balance. Likely, on Tuesday Russia's actions show the correction that is overdue, after nearly two weeks of growth. - Today, European markets again are not an abundance of economic news expected, so investors will increasingly focus on corporate events and messages from overseas. It is worth mentioning the publication of the trade balances of France and the UK in January, which is expected deficit. - on the U.S. markets again today is not expected to be particularly active, as the day will be almost neutral in terms of economic developments, therefore, most likely, players will watch the news from Asia. Output data on weekly retail sales will be the single most important event of the day. The next auction will be held initial public offering on a 4-weekly, annual and 3-year Treasury bonds, the amount of demand which will indicate the desire of investors to withdraw their funds in risk-free instruments. 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 595 695 +16.72 Hold KKGBp 245 347 +41.76 Hold Halyk Bank HSBK 370 335 -9.59 Hold Bank CenterCredit CCBN 715.01 947 +32.45 Buy Tsesnabank TSBN 980 737 -24.80 cut KazMunaiGaz RDGZ 21 450 20 300 -5.36 Hold Kazakhmys PLC GB_KZMS 3 280 3 528 +7.56 Hold ENRC PLC GB_ENRC 2 350 2 709 +15.28 Buy Kazakhtelekom KZTK 17 500 17 800 +1.71 Hold KZTKp 8 150 10 300 +26.38 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. [2010-03-09]