Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for April1, 2010

/IRBIS, April 1, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for April 1, 2010. Analysts of JSC "BCC Invest" expected today on the Kazakhstan stock market continued the positive trend of this week, which was interrupted yesterday's decline, however, in the case of negative news background from abroad may be continued correction. JSC "BCC Invest" also noted the following important events in the Kazakhstan market: Ministry of Oil and Gas of Kazakhstan has sent a notification of breaking contracts for subsoil use in connection with defaults on local content 34-meter companies, including 6 oil and gas companies, said executive secretary of the department Kanatbek Safina during the Republican seminar-workshop on the issue of development local content in the procurement of goods iuslug on Wednesday in Astana. He also said that the Ministry notified of the violation of contracts to all the companies in whose purchases local content does not exceed 10%. "Another 120 companies, we have prepared and will soon send a notice of violation of contracts", - said K. Safin. In this case C. Safina underlined that the data they do not account for the activities of the three large mineral resources of the republic- Karachaganak Petroleum Operating (KPO, developing Karachaganak), NCOC (operator of the North Caspian project) and TCO (TCO, developing the Tengiz field on the Caspian shelf). JSC Exploration Production KazMunaiGas held yesterday, the next face to face meeting of the Board of Directors. During the meeting, board chairman of KMG elected Askar Balzhanov - Managing Director, Exploration and Production JSC "NC KMG. In addition, the decision board member of the Board of KMG was appointed Kiykbay Eshmanov, replaced as director of the production branch "Ozenmunaygaz" Bagitkali Bisek. LEDs also approved changes to the exploration program for 2010, within the approved budget. The new program includes continued study subsalt deposits, but excludes drilling in this year's subsalt wells on the block Lyman. At the same time on the blocks Lyman and P9 will be drilled additional oversaline well. The program provides for acquisition of equipment and carrying out the necessary research. SD is also recommended that shareholders approve the amount of dividend per ordinary and preference share amounting to 704 tenge. Analysts JSC "BCC Invest" save recommendations "hold" on shares and depositary receipts KMG with target price KZT20,300 per share and $ 23.30 per GDR. April 1, 2010 will be held teleconference Halyk Savings Bank of Kazakhstan "to declare the audited consolidated financial results for the year 2009. The current recommendation of JSC "BCC Invest" Securities Halyk Savings Bank of Kazakhstan is at the level to "sell". In the near future analysts AO "BCC Invest" update their price targets and recommendations in accordance with the results teleconference and published financial statements. Analysts JSC "BCC Invest" also expect the following developments in international markets: - on Russian markets expected a large number of publications of macroeconomic statistics, among which are the output of the manufacturing PMI index for March, the state of international reserves and the National Welfare Fund at the end of the month. In addition, today held a press conference on "Oil and gas industry in Russia: state, problems and prospects of development". The event will be attended by the President of the Union of Russian Oil Gennady Schmal. At the opening of trading is expected to continue a moderately positive dynamics of the market, due to favorable external background from Asian and U.S. markets. - on European markets in Germany, France and Britain come out of local manufacturing PMI index for March. The Italian statistics in addition to data on the PMI will consist of salary growth of population in February and the balance of the national budget in March. - on the U.S. markets in addition to those already mentioned data on weekly unemployment benefits in the course of today's trading may affect output data for manufacturing ISM index for March and an increase in construction costs in the country in February. 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 690.00 695 +0.65 Hold KKGBp 347 Hold Halyk Bank HSBK 389.99 335 -14.23 Sell Bank CenterCredit CCBN 749.00 777 +26.44 Hold Tsesnabank TSBN 737 Cut KazMunaiGaz RDGZ 21,701.01 20,300 -6.46 Hold Kazakhmys PLC GB_KZMS 3,333.00 +5.85 On review ENRC PLC GB_ENRC 2,642 Hold Kazakhtelekom KZTK 16,800.00 17,800 +5.95 Hold KZTKp 7,830.00 10,300 +31.55 Buy MREK MREK 960.00 800 -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. [2010-04-01]