Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for May 12, 2010

/IRBIS, May 12, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for May 12, 2010. Today Analysts of JSC "BCC Invest" expect for the opening of trading a downward correction after yesterday's growth on the shares on KASE behind their foreign counterparts. Promotions and ENRC PLC Kazakhmys PLC yesterday on the London Stock Exchange adjusted downwards - respectively 4.15% and 3.03%. Yesterday Depositary Receipts of Halyk Bank, Kazkommertsbank and KMG in London have fallen - on 4.02%, 2.78% and 7.83% respectively. Later in the day dynamics of the local stock market will depend on investor sentiment in the European stock exchanges JSC BCC Invest also notes the following important events in the Kazakhstan market: - JSC Exploration Production KazMunaiGas in a communique announced that on Thursday, May 13, 2010, will be published condensed interim financial statements for the first quarter of 2010. A conference call for investors in the first quarter of 2010 will be held on the same day at 18:00 by Astana time. According to JSC "BCC Invest" publication of financial statements for the first quarter and the company's management comments during the conference call can have an impact on the quotations of ordinary shares and depositary receipts of JSC Exploration Production KazMunaiGas. Currently, analysts confirm that the recommendations "hold" on ordinary shares and depositary receipts of JSC Exploration Production KazMunaiGas with target price KZT20,300 per share and USD23.30 per GDR. Currently, analysts of JSC "BCC Invest" does not give recommendations on preferred shares of JSC Exploration Production KazMunaiGas. Analysts JSC BCC Invest also expect the following developments in international markets: - on Russian markets macroeconomic events are not expected today. On Wednesday at the opening of trading, analysts of JSC "BCC Invest" offers a moderately negative dynamics of the main Russian indices on the background of a negative on the eve of the closed auction in the U.S.A. In addition, the Russian stock market rose yesterday with too much power in comparison with Europe, which certainly could result in a record profit today. Nevertheless, the uncertain mood in Asia can help to ensure that the fall would be negligible. - European markets today is the day promises to be rich in terms of macroeconomic publications, the most interesting statistic is the output of data on euro area GDP growth in the first quarter of 2010, which is expected no change. Also today, there are data on GDP growth of individual European countries and, in particular, Germany. In the UK, is expected to publish data on the unemployment rate for April, as well as the Bank of England's quarterly report on inflation. - U.S. market now expected to yield data on the country's trade balance in March, as well as changes in stocks of petroleum and petroleum products per week. In addition, today released the monthly report on the state budget in April, which is expected deficit of $40 billion 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 510 623 +22.16 Hold KKGBp 271 312 +15.13 Hold Halyk Bank HSBK 325 330 +1.54 Hold Bank CenterCredit CCBN 570 777 +36.32 Buy Tsesnabank TSBN 959 737 -21.68 Cut KazMunaiGaz RDGZ 19,000 20,300 +6.84 Hold Kazakhmys PLC GB_KZMS 2,900 3,559 +22.72 Buy ENRC PLC GB_ENRC 2,450 2,642 +7.84 Hold Kazakhtelekom KZTK 13,849 17,800 +28.53 Hold KZTKp 6,100 10,300 +68.85 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. [2010-05-12]