Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for April 23, 2010

/IRBIS, April 23, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for April 23, 2010. Today Analysts of JSC "BCC Invest" expected on the Kazakhstan stock market multidirectional movement of quotations. According to the JSC "BCC Invest" projection resultant change of KASE index will be negligible. JSC "BCC Invest" also notes the following important events in the Kazakhstan market: - Standar & Poors has assigned the oil company Zhaikmunai the "long- term credit rating at 'B-' rating placed on CreditWatch with positive implications, said on Thursday rating agency. In addition, the report indicates, the planned release of long-term priority of bonds with fixed income, which will be implemented special juridical person - Zhaikmunai Finance BV, have assigned a preliminary long-term rating "B". S&P also have assigned a bond rating of the expected recovery of debt after a default on the level "3", which reflects the expectations of the agency "a substantial (50-70%) recovery of debt holders of bonds in the event of default" - Moody's Investors Service has assigned oil and gas company Zhaikmunai "the first corporate family rating (CFR) at the level of" B3 "/ In addition, the company rated the probability of default at" B2 ", as well as a preliminary rating of" B3 "Upcoming Eurobond, indicated the message by Moody's. Score rating scale losses under default (LGD) is LGD4 (65%). The outlook on the ratings - "positive". Analysts JSC "BCC Invest" also expect the following developments in international markets: - at the Russian market is expected to publish data on the monetary base in rubles at the beginning of the week, which is unlikely to have a significant impact on the market. As of important events among first- tier companies are not expected, investors will be watching at developments from abroad and to smaller corporate events. At the opening of trading on Friday, analysts of JSC "BCC Invest" offer neutral negative dynamics of the market, despite yesterday's small increase in the U.S. market. Pressure on the Russian paper has a negative external background from Asia and the current negative dynamics of futures for U.S.A. indices. Nevertheless, does not preclude the predominance of optimism on the background of technical rebound after several days of decline. - on the European markets of the major macroeconomic developments worth noting output indexes of business sentiment, the current economic situation and economic expectations in April in Germany. In addition, in UK there will be data on GDP growth in the first quarter of 2010, which are expected the same growth as in the previous period (0.4%). - on the U.S. markets is expected to yield data on the volume of orders for durable goods in March, and sales in the primary market for March. In addition, continuing publication of financial statements of companies of different capitalization. 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 621 695 +11.84 Hold KKGBp 259.99 347 +33.58 Hold Halyk Bank HSBK 355 330 -7.04 Sell Bank CenterCredit CCBN 710 777 +9.44 Hold Tsesnabank TSBN 940 737 -21.60 Cut KazMunaiGaz RDGZ 22,100 20,300 -8.14 Sell Kazakhmys PLC GB_KZMS 3,330 3,559 +6.88 Neutral ENRC PLC GB_ENRC 2,750 2,642 -3.93 Hold Kazakhtelekom KZTK 16,500 17,800 +7.88 Hold KZTKp 7,710 10,300 +33.59 Buy MREK MREK 910 800 -12.09 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. [2010-04-23]