Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for May 26, 2010

/IRBIS, May 26, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for May 26, 2010. Analysts of JSC "BCC Invest" indicate that the shares of ENRC PLC and Kazakhmys PLC, yesterday on the London Stock Exchange fell - respectively 7.13% (9.06 pounds) and 4.80% (10.72 pounds). Also, yesterday Depositary Receipts of Halyk Bank, Kazkommertsbank and KMG in London have fallen - by 1.63% ($7.22), 5.93% ($5.55) and 3.59% ($18.80), respectively. . Yesterday was neutral closing trades in the U.S and optimism in Asia today, according to analysts of JSC "BCC Invest", will give rise to growth in the Kazakhstan market shares. Analysts expect the opening of trading on KASE mixed dynamics of stock price in the index KASE, which may come in the positive plane during the day. Analysts recommend that open positions in the stocks for the game on the rebound. JSC BCC Invest also note the following important events in Kazakhstan's market: - Decision of the Board of Kazakhstan Stock Exchange on May 26, 2010 in Gaza KASE secondary market opened trading following international bonds JSC Bank CenterCredit ": - XS0243010443 (CCBNe2; $300.0 million; 02/02/2006 - 02/02/1911, semi-annual coupon, 8.00% APR, 30/360); - XS0245586903 (CCBNe3; $100.0 million; undated, early treatment - 03.03.06, semiannual coupon is 9.125% per annum after 03/03/1916 - quarterly coupon; 30/360); - XS0282585859 (CCBNe4; $500 million; 01/30/2007 - 30/01/1914, semi-annual coupon is 8.625% per annum; 30/360); - XS0267377454 (CCBNe5; KZT25.0 billion; 09/20/2006 - 30/09/1911, semi-annual coupon, 8.25% per annum; 30/360). The accuracy of quotation of these bonds in the trade system of KASE is set up to fourth decimal place, the net price of a bond, expressed as a percentage of nominal value. Duties of the market-maker on these bonds will carry on KASE JSC "BCC Invest" - a subsidiary of Bank CenterCredit (Almaty) with minimal binding quotations in sizes: - on the bonds XS0243010443, XS0245586903 and XS0282585859 - to $19,300 nominal debt - the bonds XS0267377454 - KZT2,900,000.00. These bonds were included in KASE's official list of category "Debt securities with a rating grade" from May 19, 2010. According to analysts of JSC "BCC Invest", this news is neutral for the stock price JSC BankTsentrKredit, as consistent with earlier statement. Analysts confirm the recommendation of "BUY" on ordinary shares of JSC Bank CenterCredit with a target price of KZT777 per share. Analysts JSC BCC Invest also expect the following developments in international markets: - on Russian markets today are data on weekly inflation, and similar data from the beginning of the year. Today is also expected to publish financial statements for the first quarter of 2010 JSC "MTS" and the combined organization Vimpelcom Ltd. Yesterday's reversal on the major U.S. stock indices, as well as today's positive mood from Asia, are likely to be conducive to purchases on the stock exchanges RTS and MICEX on Wednesday. Today we expect a rebound from yesterday's lows, which really can not be enough to play record for the current year decline that occurred Tuesday. - European markets the most important macroeconomic data published today will be the index of consumer confidence in Germany in June. - U.S. market today is expected to yield regular data on stocks of petroleum and petroleum products. Also today, there are data on the growth of sales of new buildings in April, as well as an increase in durable goods during the same period. In addition, the speech of the morning, the Fed at a conference in Japan, this may also influence the course of 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 456.50 623 +36.47 Hold KKGBp 271 312 +15.13 Hold Halyk Bank HSBK 260 330 +26.92 Accumulate Bank CenterCredit CCBN 550 777 +41.27 Buy Tsesnabank TSBN 941 737 -21.68 Cut KazMunaiGaz RDGZ 17,000 21,300 +25.29 Hold Kazakhmys PLC GB_KZMS 2,200 3,559 +61.77 Buy ENRC PLC GB_ENRC 1,975 2,638 +33.57 Buy Kazakhtelekom KZTK 12,000 17,800 +48.33 Hold KZTKp 6,000 10,300 +71.67 Buy MREK MREK 1,000 800 -20.00 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. [2010-05-26]