Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for April 27, 2010

/IRBIS, April 27, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for April 27, 2010. Today BCC Invest Analysts are waiting on the Kazakhstan stock market multidirectional movement of prices. Probably on the shares of commodity companies' growth will continue, while the shares of the banking sector will be observed sales. JSC BCC Invest also notes the following important events in the Kazakhstan market: - April 28, 2010 in the trade system of KASE held repeated specialized auction on placement of short-term treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEKKAM-12,106 issue. Declared amount of placement is KZT7 billion: - April 29, 2010 in the trade system of KASE held special auctions on placement of government long-term treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEUZHKAM-204, the third release announced volume accommodation amounts to KZT14 billion: - Yesterday, the Eurasian Natural Resources Corporation PLC (ENRC) company announced the acquisition of 12.2% stake in Northam Platinum Limited, is a major producer of platinum in South Africa, from Mvelaphanda Resources Limited for cash equivalent to 50 X South African (ZAR) per share that the amount corresponds to 2.2 billion ZAR ($296 million). The cash will be drawn from current resources ENRC, and the expected completion of the transaction is expected in May 2010. Northam Platinum Limited is the leading producer of platinum and one of the four major platinum producers in South Africa with enrichment facilities, which allows the company to be operating and comparative advantage in mining, manufacturing and marketing. Despite the relative insignificance of the volume of transaction on the company's capitalization, analysts JSC "BCC Invest" believe that the above post has a positive impact on the campaign ENRC PLC, since it corresponds to the company's policy on production and territorial diversification of business. The current recommendation of JSC "BCC Invest" is located at the "hold", but analysts JSC "BCC Invest" plans to release an updated report after the publication of production results for the first quarter of this year. - Company KAZAKHMYS PLC announced the signing of a memorandum of intent to cooperate with the company "Jinchuan Group Ltd". Partners plan to form a joint venture to develop a large- scale project of the copper mining at the deposit Aktogai in Kazakhstan. "Jinchuan" stated desire to acquire 49% stake in the project cost of $120 million Estimated cost of developing the field of the order of $1.5 -2.0 billion expected production volume of copper in concentrate - about 100 thousand tons per year. Useful life of the mine - more than forty years. In this project already have the necessary infrastructure: built 800 km of electric networks, construction of the railway, have the necessary production facilities. The number of employees in the operation period of over 1000 people. After the transaction the joint venture will be developed the feasibility study on the project, which will take about 12 months. Upon completion of the feasibility study, will begin design and construction phase, which lasts about three years. According to JSC "BCC Invest", this news is positive for quotations Kazakhmys PLC, traded in Kazakhstan and the UK, collaborating with Jinchuan Group Ltd will increase the net monetary position of the company, raising its capitalization and, accordingly, the fair value of one security. Despite the possible positive effects, according to JSC "BCC Invest", Kazakhmys PLC shares currently valued almost true, with minimal potential for growth, so JSC "BCC Invest" recommendation on "neutral" on these securities. JSC BCC Invest Analysts also expect the following developments in international markets: - on Russian markets are no macroeconomic publications is expected. At the opening of trading today, is expected to commit some profits after two-day increase, which can occur under the pressure of the outside of Asian background and moderately negative dynamics of U.S. trading yesterday. - on European markets is expected to yield an index of consumer trust from Germanskogo Gfk in May, as well as the index of import prices in March. Also today, there are data on unemployment in France in March, as well as the volume of mortgage loans in the UK in April. - on the U.S. markets will be released price index for shelter from the S & P / CaseShiller for February, as well as the consumer trust index in April. In addition, the continued publication of financial statements of companies with different capitalization, this may influence the bidding. 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 353.53 330 -6.66 Sell Bank CenterCredit CCBN 650 777 +19.54 Hold Tsesnabank TSBN 941 737 -21.68 Cut KazMunaiGaz RDGZ 22,500 20,300 -9.78 Sell Kazakhmys PLC GB_KZMS 3,240 3,559 +9.85 Neutral ENRC PLC GB_ENRC 2,750 2,642 -3.93 Hold Kazakhtelekom KZTK 16,450 17,800 +8.21 Hold KZTKp 7,700.01 10,300 +33.77 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. [2010-04-27]