Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 26, 2010

/IRBIS, March 26, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 26, 2010. Analysts of JSC "BCC Invest" expected today on the Kazakhstan stock market sluggish flow of trades. The only idea, according to analysts, today will be common shares Kazkommertsbank - depositary receipts of the bank yesterday on the London Stock Exchange rose by 4% to $ 9.90 per GDR (1 ADR = 2 common shares), and arbitrageurs are not long in coming. JSC "BCC Invest" also note the following important events in the Kazakh market: - On 25 March this year the FSA published the data on assets and loan portfolio of second-tier banks of Kazakhstan on March 1, 2010. Kazkommertsbank maintain its leadership in terms of assets, while the BTA Bank "has given way to second place People's Bank as a result of the high-level provisions. The published data are preliminary and non- consolidated. Analysts JSC "BCC Invest" believe that the published statistics are neutral for stock quotes and depository receipts of Kazakh banks, because of expectations of the market. The next week is expected to publish its audited consolidated financial statements of the People's Savings Bank of Kazakhstan and Kazkommertsbank in 2009, Bank CenterCredit "accounted for 2009 on March 10 of this year. At present JSC "BCC Invest" reaffirms the recommendations of "hold" on ordinary shares Kazkommertsbank and Bank CenterCredit "with target prices, respectively, KZT695 and KZT777 per share, and" sell "on ordinary shares of JSC" National Savings Bank of Kazakhstan "with a target price of KZT335. After the publication of statements Kazkommertsbank and Halyk Savings Bank of Kazakhstan JSC analysts "BCC Invest" will reconsider the recommendations and price targets on shares of these issuers. Analysts of JSC "BCC Invest" also expect the following developments in international markets: - Russian markets are not expected any major macroeconomic publications. The only thing that may be of interest to investors, will yield data on the state of base money in rubles at the beginning of this week, but the publication of these statistics is unlikely to have any influence on the course of bidding. Despite the fact that the current futures on U.S. stock indices traded in a neutral, analysts JSC "BCC Invest" offers a moderately positive mood of the Russian market at the opening of the morning trading session, as most Asian stocks traded in positive territory - European markets last working day of the week will not be particularly rich in macro-economic developments. The indicator of consumer confidence of France in March and an increase in total investment in the UK for the fourth quarter - that's all that he expects investors for Friday. - on the U.S. markets investors looked forward to further revised data on GDP growth in the fourth quarter of last year, which most likely will have no impact on the market. Nevertheless, a certain influence on the bidding may have data on personal consumption in the country and indicator of consumer confidence in the University of Michigan, which, although expected in the near previous values can cause a response in the event of a sharp disagreement with the predictions. In addition, continuation of solutions to issues in Greece from Europe, too, can influence the mood of the players. 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 665 695 +4.44 Hold KKGBp 269.5 347 +28.87 Hold Halyk Bank HSBK 385 335 -13.12 sell Bank CenterCredit CCBN 742 777 +4.72 Hold Tsesnabank TSBN 940 737 -21.60 decrease KazMunaiGaz RDGZ 21,500 20,300 -5.58 Hold Kazakhmys PLC GB_KZMS 3,400 3,528 +3.76 Hold ENRC PLC GB_ENRC 2,520 2,709 +7.50 Hold Kazakhtelekom KZTK 17,250 17,800 +3.19 Hold KZTKp 8,000 10,300 +28.75 Buy MREK MREK 960 800 -16.67 decrease ---------------------------------------------------------------------- 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. [2010-03-26]