Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 30, 2010

/IRBIS, March 30, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 30, 2010. Analysts of JSC "BCC Invest" expected today on the Kazakhstan stock market continue upward trend against the background of optimism in world financial markets. Today is expected to publish preliminary financial statements Kazakhmys PLC for the year 2009 taking into account the result of participation in the capital ENRC PLC, which may influence the course of trading on the shares of the company. After the publication of statements of JSC "BCC Invest" adjust its model for evaluating the company's shares and, if necessary, change the target prices and Yesterday recommendations on Kazakhmys PLC. Reporting the National Bank for 2009, has not been published and is likely to be published next week. JSC "BCC Invest" also noted the following important events in the Kazakhstan market: - On March 29 of this year JSC Exploration Production KazMunaiGas announced that on March 26 of this year, an extraordinary general meeting of shareholders elected a new Board of Directors of KMG EP in connection with the expiry of the term before. According to the decision of EGM The Board of Directors of KMG EP has entered : Mr. Askar Balzhanov (Managing Director for Exploration and Production JSC National Company "KMG"), Tolegen Boszhanov (Managing Director, Corporate Center of JSC National Company "KMG"), Yerzhan Zhangaulov (General Manager, Legal Support JSC National Company KazMunayGas ) Kenzhebek Ibrashev (CEO (Chief Executive), KMG), Assia Syrgabekova (CFO JSC National Company "KMG"), Paul Manduca (Independent Director of KMG EP), Edward Walsh (Independent Director KMG). Also meeting shareholders has been defined term of office of the Board -3 years. Thus, the quantitative composition of the Board of Directors was reduced from 8 to 7 people. Kairgeldy Kabyldin, past President of the Board of Directors was replaced by Asiya Syrgabekova - Financial Director of NC KMG, independent director Christopher Mackenzie left The Board of Directors, which has led to a reduction in the number of independent board members, from 3 to 2 people. Reducing the quantity and the number of independent directors on the board of directors, according to JSC "BCC Invest", may lead to deterioration in the quality of corporate governance. But analysts JSC "BCC Invest "believe that the news is neutral for the stock price and depository receipts KMG since EGM agenda has been published previously, and investors were already aware of forthcoming changes in the composition of the Board of Directors. JSC" BCC Invest "retains the recommendation" to hold "the shares and GDRs RD EP with target price KZT20,300 per share and $ 23.30 per GDR. Analysts of JSC "BCC Invest" also expect the following developments in international markets: - on Russian markets the second day of the week will be neutral in terms of macroeconomic statistics, so investors will be watching for corporate events, and news from abroad. Today, VTB will announce the results of its activities under IFRS for the year 2009. In addition, on Tuesday held a press conference on the theme "Becoming a Customs Union of Russia, Belarus, Kazakhstan: Current Situation and Prospects", the outcome of which may have an impact on the market. At the opening of the morning trading session on the Russian stock market analysts JSC "BCC Invest" expect continued growth in the major indexes, with the support of positive trading in Asia and the moderate growth of futures for the major U.S. indexes at the moment. - European markets come out the revised data on GDP growth of France and Britain in the fourth quarter of 2009, as well as the price index for imported goods in Germany in February. In addition, the expected publication of data on house prices in the British Isles during the March and the current account in pounds sterling at the fourth quarter of last year. - on the U.S. markets are expected to publish an indicator of consumer confidence for March and the index of house prices at the beginning of the year (S&P Case-Shiller)., Which is expected to decline by 0.6%. 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 683.01 695 +1.68 Hold KKGBp 269.50 347 +28.87 Hold Halyk Bank HSBK 385 335 -13.12 Sell Bank CenterCredit CCBN 750 777 +3.60 Hold Tsesnabank TSBN 940 737 -21.60 Cut KazMunaiGaz RDGZ 21,670 20,300 -6.32 Hold Kazakhmys PLC GB_KZMS 3,300 3,528 +6.91 Hold ENRC PLC GB_ENRC 2,600 2,642 +1.62 Hold Kazakhtelekom KZTK 16,803 17,800 +5.93 Hold KZTKp 7,900 10,300 +30.38 Buy MREK MREK 960 800 -16.67 Cut ---------------------------------------------------------------------- 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. [2010-03-30]