Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for April 9, 2010

/IRBIS, April 9, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for April 9, 2010. Analysts of JSC "BCC Invest" expected today on the Kazakhstan stock market technical rebound after yesterday's decline - a positive closing trades in the U.S., the growth indexes in Asia and the rise of quotations on commodity futures will facilitate this. JSC "BCC Invest" also noted the following important events in Kazakhstan's market: - April 8, International rating agency Moody's Investors Service reviewed for possible downgrade six Kazakh financial companies, four of which are state-owned companies, namely the JSC "Development Bank of Kazakhstan", JSC "Mortgage organization" Kazakhstan Mortgage Company JSC, KazAgroFinance and JSC "Agrarian Credit Corporation". Two other companies are State Construction Savings Bank of Kazakhstan and DBK Leasing. Review ranking of these companies due to changes in Kazakhstan's sovereign rating to "negative" to "Stable" and the decline in foreign bonds in the country one step to the level of "Baa2". - The modernization of Ekibastuz GRES-1 to 2015 will be invested KZT180mlrd. Investment in expanding and renovating Ekibastuz GRES-1 (EGRES-1, in the Pavlodar region, Kazakhstan, in the north) from 2009 to 2015 will amount to KZT180 billion, said Kazakhmys. "In general, power investment program from 2009 to 2015 amounts to more than 180 bln. It provides for the restoration of power # 8, 2, 1, and bring power to the installed production capacity of 4000 MW," - stated in the circulated report. The company informs that in 2009 the reconstruction and modernization EGRES-1 was fully reinvested profits from operations plant, which is before tax amounted to more than KZT12 billion. "During the year the power station was completed maintenance units # 3,4,6,7 and overhaul unit # 5, including its technical re-equipment. All the works were completed earlier than planned, which ensured the possibility of additional electricity to 3-m in the 4th quarter of 2009, "- stated in the information. Idle unit # 8 is scheduled to be operational before 2013, the actual power plant will increase from 2500 to 3000 MW, the report said. Kazakhmys completed the sale of a 50% stake in Ekibastuz GRES-1 state fund "SamrukKazyna. The deal amounted to $ 681 million According to JSC "BCC Invest" this news is neutral for the stock price Kazakhmys PLC, since it corresponds to earlier statement. Analysts JSC "BCC Invest" recommendation on "neutral" on securities companies traded on the stock markets of Kazakhstan and the UK. Analysts of JSC "BCC Invest" also expect the following developments in international markets: - On Russian market is expected to yield data on the state of the monetary base in rubles at the beginning of the week. From corporate events worth mentioning the publication of financial statements for the year 2009 the company Rusal, as well as the output of operating results for the first quarter of 2010, the company X5 Retail Group NV At the opening of trading analytics JSC "BCC Invest" offers positive dynamics with the support of the Asian external background. Nevertheless, JSC "BCC Invest" does not expect that growth will be substantial, since trading in Asia, held in a small plus, and futures on major U.S. indexes and are traded at all neutral. - On European markets are data on the status of the trade balance of Germany in February, as well as on the growth of industrial production in France. In addition, the expected publication of the UK producer price index for March. - On the U.S. markets from economic events only important publication will yield data on changes in wholesale inventories February, which is expected at the level (0.4%). 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 635.01 695 +9.37 Hold KKGBp 260 347 +33.58 Hold Halyk Bank HSBK 363 335 -7.85 Sell Bank CenterCredit CCBN 735 777 +5.71 Hold Tsesnabank TSBN 940 737 -21.60 Cut KazMunaiGaz RDGZ 22,201 20,300 -8.56 Hold Kazakhmys PLC GB_KZMS 3,400 3,559 +4.68 Neutral ENRC PLC GB_ENRC 2,800 2,642 -5.64 Hold Kazakhtelekom KZTK 16,850 17,800 +5.64 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. [2010-04-09]