Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 11, 2010

/IRBIS, March 11, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 11, 2010. Analysts of JSC "BCC Invest" now waiting on the Kazakhstan stock market is moderately negative dynamics of trading on the background of profit-taking before the weekend. JSC BCC Invest also noted the following important events in the Kazakh market: - GDP growth in Kazakhstan, Operational estimates of Agency for Statistics, in January and February of this year compared to the same period last year amounted to 6.4%. According to the latest government forecasts GDP growth in Kazakhstan this year will amount to 2% - March 11, 2010 JSC Exploration Production KazMunaiGas published data on the status of stocks on December 31, 2009. According to the report by the independent company's Gaffney, Cline & Associates ("GCA"), total oil reserves by category proven plus probable "(2P ) amounted to 234 415tys. tons (1 725 million barrels), excluding shares of KMG EP in the companies' Kazgermunai and CCEL ( "Karazhanbasmunai). replenishment rate was 25%, calculated as the ratio of growth stocks of 2.2 million tons (16 million barrels) of oil production for the year about 9 million tons (66 million barrels). Coefficient of replenishment for the past three years was 212%, ie the increase in reserves was 59 million tons (436 million barrels) while production was 28 million tons (206 million barrels). Multiplicity reserves as at end 2009 was 26 years. Reserves under the category "Proved (1P) amounted to 87 874 tons (646 million barrels) and by category proven plus probable plus possible (3P) reserves amounted to 270 468 tons (1 989 million barrels). According to analysts JSC "BCC Invest", published information is neutral for the dynamics of stock price and depository receipts of KMG EP as well as meet the expectations of investors. JSC "BCC Invest" retains the recommendation to "hold" on shares and depositary receipts of KMG EP with target prices, respectively, 20 300 tenge per share and $ 23.30 per GDR. Analysts JSC "BCC Invest" are also waiting for the next events in the international markets: - on Russian markets at the opening of today's trading is expected to neutral mood, as most Asian and U.S. indexes currently showing mixed dynamics. Most likely, today Russia's stock eindeksy continue its sideways trend, which is observed this week. - European markets today are data on Eurozone industrial production for January and wholesale price index in Germany in February, the results of which may influence the course of bidding. In addition, the continued publication of financial results of the various companies for the fourth quarter of last year. - Markets for U.S. key macroeconomic event of the end of the week will yield data on growth in retail sales last month, and only a sharp disagreement with the predictions could have a significant impact on the market since February is the weakest month of the year in terms of this indicator and the market expects a significant reduction. Plus, by the middle of the trading day will be the speech of the U.S. Treasury at the annual conference in Washington, for which will also closely monitor investors 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 620 695 +12.02 Hold KKGBp 245 347 +41.76 Hold Halyk Bank HSBK 381 335 -12.20 Hold Bank CenterCredit CCBN 734 - On review Tsesnabank TSBN 980 737 -24.80 cut KazMunaiGaz RDGZ 21,000 20,300 -3.33 Hold Kazakhmys PLC GB_KZMS 3,295 3,528 +7.07 Hold ENRC PLC GB_ENRC 2,411 2,709 +12.36 Buy Kazakhtelekom KZTK 17,050 17,800 +4.40 Hold KZTKp 8,010 10,300 +28.59 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. [2010-03-12]