Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 15, 2010

/IRBIS, March 15, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 15, 2010. JSC BCC Invest is noted the following important events in the market: Today, analysts of JSC "BCC Invest" is not expected at the Kazakhstan stock market a significant stock price movements in the index KASE, may be a slight correction on shares ENRC PLC after rapid growth on Friday. In connection with the achievement of shares of ENRC PLC target price 11,68 ? analysts JSC "BCC Invest" lower its recommendation from "buy" to "hold" and leave the target price at 11.68 pounds and KZT2,709 per share. March 24 this year expected to be published by the Financial Statements for the year 2009, and before the end of March this year is expected conclusion of negotiations between the world's global suppliers of iron ore to Asian consumers to establish contract prices in 2010. Analysts of JSC "BCC Invest" will make adjustments to its valuation model shares ENRC PLC after the publication of reports and the completion of negotiations and, if necessary, change the recommendations and price targets on shares of the issuer. On Friday, March 12, analysts of JSC "BCC Invest" published a review of OJSC Polyus Gold, which initiates research coverage of the issuer, the recommendation of depositary receipts - to "sell" with a target price of $ 21.21 per GDR. JSC "BCC Invest" also noted the following important events in the Kazakh market: - March 17, 2010 in the trade system of KASE held special auctions on placement of government long-term treasury obligations of the Ministry of Finance of the Republic of Kazakhstan MEOKAM-36 release of 79. Estimated volume accommodation amounts to KZT15 billion. - Kazakhstan's Prime Minister Mr. Karim Masimov called for the appointment of former head of the abolished agency information and communication Mr.Kuanyshbek Esekeev CEO of Kazakhtelecom. "I will recommend to the Board of Directors KazakhTelecom Esekeeva elect the head of the company," - he said Friday in Astana, the team introducing new departments - the Ministry of Communications and Information - Minister Mr. Askar Zhumagaliev. - On March 12 of this year, Astana-Finance "official letter indicated that July 2, 2009 General Shareholders Meeting of JSC" Astana Finance ", it was decided to pay dividends on preferred shares for the 2008 year of $ 300,00 (three hundred) tenge per share. The effective date of payment of dividends appointed 01 December 2009. To date, the payment of dividends on preferred shares are not made. According to subparagraph 3) of paragraph 4 of Article 13 of the Law of the Republic "On Joint Stock Companies' preferred stock gives the shareholder the right to participate in the management of a company if the dividend on preference shares are not paid in full within three months from the date of expiry of the deadline for its payment. In connection with the foregoing, the company reported that the preferred shares of JSC "Astana-Finance" from March 1, 2010, are the voting. Analysts of JSC "BCC Invest" are also waiting for the next events in the international markets: - on Russian markets the main economic event of the beginning of this week will be the publication of data on industrial growth of Russia in February, which is projected at 6 and a half per cent on the previous month. Today, analysts JSC "BCC Invest" expect that trading on the stock exchanges MICEX and RTS will open in a minus, as most Asian indices traded in negative zone, which is also supplemented by the negative mood of futures on U.S. stock indexes. - on European markets today, a large number of publications in economic statistics is expected. The only significant news will yield data on the labor market as the euro zone for the fourth quarter of last year, which is unlikely to have significant influence on the course of bidding. As a result, analysts JSC "BCC Invest" does not expect that today, the European indices show a sharp change in comparison with the values of the end of last week. - on the U.S. markets is expected publication of data on industrial production, where the February figure of the statistics determine the extent of economic recovery. In addition, the performance index of house prices and changes in capital injections into the U.S. Treasury may also reflect a certain state of the economy at the moment. Government bond market will speed up the auction for the primary placement of 4 weeks, and 3-month and six-Treasury securities. 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 384 335 -12.89 Hold Bank CenterCredit CCBN 734 947 +29.02 Buy Tsesnabank TSBN 980 737 -24.80 cut KazMunaiGaz RDGZ 21,000 20,300 -3.33 Hold Kazakhmys PLC GB_KZMS 3,325 3,528 +6.11 Hold ENRC PLC GB_ENRC 2,549.75 2,709 +6.25 Hold Kazakhtelekom KZTK 17,280 17,800 +3.01 Hold KZTKp 8,020 10,300 +28.43 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. [2010-03-15]