Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for April 7, 2010

/IRBIS, April 7, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for April 7, 2010. - Analysts of JSC "BCC Invest" expected today on the Kazakhstan stock market continue the uptrend against the background of support from the Asian indexes. However, in the second half of the day is not ruled out fixing the profit, which may cause a correction in the market. JSC "BCC Invest" also noted the following important events in the Kazakhstan market: - National Bank does not plan to increase assets in 2010, said Chairman of the Board Umut Shayakhmetova's Press Conference on 06 April in Almaty. In terms of net profit plans in the region of 25 billion tenge on the group. But again, in the first quarter show that we are going ahead, so let's hope that the results would be even better "- she pointed out. As reported, the assets of People's Bank at the end of 2009 reached KZT2.023 trillion, an increase over with the end of 2008 by 22.5%. This obligation to the Bank grew by 19.3% to KZT1.742 trillion, own capital - a 47% to KZT280.9 billion, the share capital - in 2,2 times up to 143 , 7 bln. Bank in 2009 concluded with a net profit of KZT15.9 billion, which is 9% more than in 2008. Loans to customers fell in 2009 to 4.6%, with the mortgages - 5.5%, the consumer - by 20.9%. W. Shayakhmetova also noted that in general the current year's management of the bank's looks with optimism. However, she said, a goal that has set itself the bank in 2010 - an increase of loan portfolio 10% - can not be achieved. Analysts JSC "BCC Invest" evaluate the message as neutral for the stock price and the GDR Bank, as it closely follows the results of a telephone conference that was held after the publication of annual results last week. At the moment Analyst recommendation on common securities of the bank is at a level to "sell", but as soon as analysts JSC "BCC Invest" issue a revised forecast in the light of the published financial statements and management's expectations for 2010. - National Bank is ready to return the state fund "SamrukKazyna" crisis management tools. Kazakhstan People's Bank initiated discussions with the State Fund of national well-being (FNB) SamrukKazyna "question of the return of funds allocated under the anti- crisis support, said Chairman of the Board Umut Shayakhmetova. W. Shayakhmetova noted that the bank is ready to return the short-term deposits issued under the anti-crisis program in the order of 60 billion tenge, while also discussing the possibility of withdrawal of capital from FNB credit organization. According to analysts AO "BCC Invest", this news is neutral for the stock market quotes Halyk Savings Bank of Kazakhstan, since the amount of short-term deposits that the bank intends to return is insignificant for the balance of the creditor, that the immaterial impact on its fundamental value. Since clarity returning funds received from the National Welfare Fund in the last year of support, there is also no way should affect the share prices and the GDR Halyk Savings Bank of Kazakhstan. Currently, the recommendation of JSC "BCC Invest" on common securities of the bank is at a level to "sell", but as soon as analysts JSC "BCC Invest" issue a revised forecast in the light of the published financial statements and management's expectations for 2009. - The company Max Petroleum PLC reported that on April 2 2010, it was completed drilling of exploration well KZN-2 on the Northern part Kyzylzhar 2 Western Block Block E. According to analysts AO "BCC Invest" the message is neutral for the stock price Max Petroleum PLC. Impact on the quotes may have reported the results of testing and evaluation of wells. Analysts maintain the recommendation of "hold" on the shares of Max Petroleum PLC with target price of 21 pence per share. Analysts JSC "BCC Invest" also expect the following developments in international markets: - on Russian markets of the major macroeconomic events environment is worth mentioning the publication of data on the status of official international reserves of the country in March, as well as the weekly inflation data and trade balance for February. From corporate news today is expected to publish financial results under IFRS Organization Bank "Saint Petersburg". Also today, will be consideration of the Federal Antimonopoly Service of Russia case against OAO Mobile TeleSystems, VimpelCom and OAO MegaFon for violating the law "On protection of competition" in terms of establishing and maintaining monopolistically high prices for the provision of mobile services using the roaming service, which may adversely affect the quotations of securities of these companies. At the opening of today's trading analysts expect a continuation of a moderate uptrend, pledged in the past few days, amid positive sentiment in Asian stock markets at the moment. Nevertheless, analysts AO "BCC Invest" does not expect that growth will be significant, because some pressure may have a negative traded futures on U.S. indices. - on European markets is expected to yield a further revised data on euro area GDP growth in the fourth quarter of last year, as well as the indices in the service sector PMI for Germany, Italy, France and Britain. In addition, today there are data on orders for factory goods in Germany in February and the Eurozone producer price index for the same period. - on the U.S. markets are expected performances of Ben Bernanke and other Fed leaders at various conferences. Also, today is expected to auction for the initial public offering 10-year treasury bonds, according to the results of which could be to have an idea of the attitude to risk at the moment. 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 670 695 +3.66 Hold KKGBp 270 347 +28.63 Hold Halyk Bank HSBK 392 335 -14.67 Sell Bank CenterCredit CCBN 755 777 +2.91 Hold Tsesnabank TSBN 940 737 -21.60 Cut KazMunaiGaz RDGZ 22,100 20,300 -8.14 Hold Kazakhmys PLC GB_KZMS 3,510 3,559 +1.40 Neutral ENRC PLC GB_ENRC 2,750 2,642 -3.93 Hold Kazakhtelekom KZTK 16,900 17,800 +5.33 Hold KZTKp 7,800 10,300 +32.05 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. [2010-04-07]