Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for April 23, 2010

/IRBIS, April 23, 2010/ -BTA Bank JSC subsidiary BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for April 23, 2010. According to the report, the company analysts expect today: - problems of budget deficits of the euro area undermines investor confidence in the European currency and raises concerns about the economic recovery in the region. Asian markets are now traded in the negative zone. A similar pattern today is likely to continue the European market. Today to support the markets can macro statistic of Euro zone and USA. In the euro zone expected the growth in a new industrial orders in February, and orders in March for U.S.A. are durable goods and new homes. The American market is held at a maximum in March last year, marks, S&P500 index traded above the mark in 1200 items. - Analysts of BTA Securities expect that on Friday the Kazakh market will continue to be adjusted, the participants will beat a negative external background. However, the market so fairly rolled in the value of the last two weeks. For this reason, analysts of BTA Securities expect to moderate pace and low liquidity. It is expected that commodity companies will follow the path of correction, after yesterday's fall of the GDR in overseas venues. Today, as yesterday, the price levels are attractive to banks entry. - futures on oil with the soon delivery period continues to haggle much lower than futures with more distant deadlines, which indicates that market participants are more confident that the recovery of world economy will increase demand for oil later this year. In general, economic data in general continue to improve and people make choices in favor of optimism. - seasonal increase in demand for base metals remains strong fundamental support factor, which will stimulate the purchase of most of the investors. However, the exchange factor with the growing cost of sovereign debt of Greece dollar will have opposite directions influence on quotations metals. Today expected that data for March on orders for durable goods and sales of new homes, which are expected to show growth, can support the quotation. - April 23 is expected to strengthen the dollar amid rising U.S. Durable Goods Orders. Today at the G20 summit in Washington will also discuss the problems of Greece, which will weaken the euro. The British pound will strengthen against the growth of GDP of Great Britain. Analysts of BTA Securities give the following advice for investors in securities of issuers in Kazakhstan: -------------------------------------------------------------------------- Stock Final Target price Recom Potential Emitter Exch price 2010 year mendation % percent ange -------------------------- ----- -------- ------------ --------- --------- Banks -------------------------------------------------------------------------- KAZKOMMERTSBANK-GDR LSE 8.4 5.5 Sell -35 KAZKOMMERTSBANK KASE 621.0 410.0 Sell -34 KAZKOMMERTSBANK -PREF KASE 260.0 205.0 Sell -21 HALYK BANK-GDR LSE 9.6 7.9 Sell -18 HALYK BANK KASE 355.0 295.0 Sell -17 HALYK BANK -PREF (HSBKP) KASE 168.4 147.0 Hold -13 HALYK BANK -PREF1 (HSBKP1) KASE 171.0 191.0 Hold +12 BANK CENTER CREDIT KASE 710.0 618.0 Hold -13 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 24.9 30.1 Buy +21 KAZKMUNAIGAZ KASE 22,100.0 27,108.0 Buy +23 BMB MUNAI AMEX 1.03 2.54 Buy +147 -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,420.0 1,324.0 Hold -7 ENRC LSE 1,193.0 1,059.0 Hold -11 KAZAKHGOLD-GDR LSE 8.5 7.0 Sell -17 URANIUM ONE LSE 2.6 2.0 Sell -21 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 16,500.0 22,490.0 Buy +36 STEPPE CEMENT LSE 70.0 120.9 Buy +73 -------------------------------------------------------------------------- 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. [2010-04-23]