Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for May 17, 2010

/IRBIS, May 17, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for May 17, 2010. Today Analysts of JSC "BCC Invest" at the opening of trading, awaiting the fall of quotations for the shares on KASE behind their foreign counterparts. Shares ENRC PLC and Kazakhmys PLC on Friday on the London Stock Exchange collapsed - respectively 7.04% and 6.93%. Depositary Receipts of Halyk Bank on Friday in London also fell - by 4.66%. Depositary Receipts Kazkommertsbank and KMG increased by 1.30% and 1.12%, but today, under pressure from general negative market today, they can also fall. Today Negative closing trades in Europe and the U.S. on Friday and pessimism in Asia should put pressure on the Kazakh market shares. Analysts of JSC "BCC Invest" consider going on a good opportunity for cautious open positions in stocks for the long term. Analysts JSC BCC Invest also expect the following developments in international markets: - International rating agency Moody's Investors Service has assigned a vertically integrated Kazakh mining company Eurasian Natural Resources Corporation PLC corporate rating of "Ba2". Stable. Issuer rating "Ba2" for ENRC means that the company has good access to high quality and durable mining reserves in Kazakhstan. At the current level of production, reserves can be used for more than 35 years, which provides ENRC privileged access to markets in China and in general to the markets of Asia and Europe, favorable cost structure by high-quality mining assets of the group, as well as high levels of vertical integration groups (self-sufficiency in metals integrated downstream assets in smelting, refining and transportation), a conservative balance sheet structure, which helped save a group of strong cash flows during cyclical economic growth that occurred in the mining industry until mid-2008 and the proceeds from public offering in December 2007 year strategy to diversify the portfolio of products to reduce the risks of associated with customers, metals and regions, and experienced management. - On Friday May14th, 2010 Eurasian Natural Resources Corporation PLC Company announced the program for the Eurobond (Euro Medium TermNote ('EMTN'). Approved by the legislature of Great Britain prospect has on May 13th 2010 and refers to the program Eurobond, totaling $3 billion This release corresponds to the company's strategy aimed at diversifying sources of potential funding. According to analysts of JSC "BCC Invest" this news is positive for stocks ENRC, traded on the Kazakhstan and London stock exchanges, because the credit program allows you to expand range of funding sources for implementation of mergers and acquisitions where the company has recently received considerable attention. The current recommendation of JSC "BCC Invest" on these securities is at the "hold", but analysts plan to revise their model in accordance with the recently released operating results the first quarter of 2010. Analysts JSC BCC Invest also expect the following developments in international markets: - on Russian markets are now expected to publish financial statements for the first quarter of 2010 companies Rosneft and OAO "magnet" that may affect the dynamics of the sector. Negative dynamics of U.S. stock market late last working week, as well as the current negative from Asia is likely to affect the prevalence of sales at the opening of trading in Russia on Monday. In addition, investors can continue to record profits after a very sharp rise in the first half of last week. - today on European markets, important macroeconomic publications are expected. - U.S. markets are now expected to yield data on inflows of foreign capital in March, as well as the index of business expectations for the current month. Also today, come out financial statements of various companies, among which worth noting cinematic giants 21st Century Holding and Universal Corp. 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. [2010-05-17]