Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 19, 2010

/IRBIS, March 19, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 19, 2010. Analysts of JSC "BCC Invest" now waiting on the Kazakhstan stock market profit-taking by investors in anticipation of the long weekend. We recommend investors to reduce positions in shares ahead of holidays next week, when the local market will be closed for three days. March 18, analysts of JSC "BCC Invest" published a review, initiating research coverage Mangistau Electricity Distribution Company (MREK), recommendation - to" reduce "with a target price of KZT800 per 1 ordinary share. JSC "BCC Invest" also note the following important events in the Kazakh market: - The Senate of the Parliament of Kazakhstan at the plenary session on Thursday approved a draft law on Making Amendments and Addenda to the Law "On national budget for 2010-2012. The Government of Kazakhstan 01 March, adopted the specification in the national budget for 2010, and now his main articles are planned the following parameters: revenue - $ 3 trillion. 378,4 billion tenge; costs - 4 trillion. KZT 182 billion deficit - 803.6 billion tenge. This package of amendments into account in pursuance of the national budget for 2009 and credited with the amounts in its non-performance items in the budget-2010. GDP growth in Kazakhstan, according to the amendments, reduced to 2% from 2.4%. - Senate of the Parliament of Kazakhstan at the plenary session on Thursday approved a draft law "On guaranteed transfer from the National Fund for 2010-2012. As noted in the conclusion of the Majilis Committee on Finance and Budget, the document provides for approval of the size of the guaranteed transfer from the National Fund to the republican budget for 2010-2012. Beginning in 2010, guaranteed transfer will be fixed at $ 8 billion - instead of the current until the current transfer mechanism, limited to the level of one third of the assets of the National Fund. The bill is designed in accordance with paragraph 2 of Article 24 of the Budget Code in order to enforce orders of President Nursultan Nazarbayev, published in his annual address to the people of Kazakhstan on 29 January. As reported, the assets of the National Fund of Kazakhstan at the beginning of March 2010 amounted to $ 25 billion 157 million Analysts of JSC "BCC Invest" are also waiting for the next events in the international markets: - on Russian markets today is not expected to yield any important economic statistics. The only publication will be data on the monetary base in rubles (Money supply) at the beginning of this week, which are unlikely to have a significant impact on the stock market. Today, analysts JSC "BCC Invest" does not expect significant changes in Russia's market, since trading on the major Asian locations at the moment are different direction. Nevertheless, given the morning's ruble weakened against the dollar and the predominance of negative mood in the quotations of futures for U.S. indices, analysts JSC "BCC Invest" does not exclude that trades in Russia will start with sales. - on European markets last working day of the week will not be particularly generous in macroeconomic statistics. The greatest interest will provide data on the growth of producer prices in Germany in February and the January increase in industrial production and sales in Italy. In addition, investors will continue to monitor corporate news and reports on the situation in Greece. - on the U.S. markets today will be the main expiry of futures on stock indices and the various options (quadruple witching). Usually during the day, most investors are trying to liquidate its positions in derivative instruments prior to the actual maturity of contracts, which is reflected in the high volatility of stock price and derivatives. So today there will be no publication of any economic statistics, or other news. In addition to local events, American players will also follow the news from Europe and, in particular, the situation in Greece. 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 675 695 +2.89 Hold KKGBp 269.5 347 +28.87 Hold Halyk Bank HSBK 392 335 -14.67 sell Bank CenterCredit CCBN 764 review Tsesnabank TSBN 980 737 -24.80 cut KazMunaiGaz RDGZ 20,900 20,300 -2.87 Hold Kazakhmys PLC GB_KZMS 3,400 3,528 +3.76 Hold ENRC PLC GB_ENRC 2,550 2,709 +6.24 Hold Kazakhtelekom KZTK 17,000 17,800 +4.71 Hold KZTKp 8,070 10,300 +27.63 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. [2010-03-19]