Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for June 11, 2010

/IRBIS, June 11, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for June 11, 2010. Analysts of JSC "BCC Invest" now expect positive opening trades at KASE. The favorable external background will contribute to this. But at the end of the day may change the dynamics of bidding for the negative on the background of profit taking before the weekend. JSC BCC Invest also note the following important events in Kazakhstan's market: - In January-May 2010 compared to the same period in 2009 the volume index of industrial production in Kazakhstan amounted to 111.9%. The increase in production was observed in all regions of the republic. In mining and quarrying in January-May 2010 the volume index was 107.7%. Increased production of iron ore (130.3%), crude oil (107.8%), natural gas (107.5%), coal and lignite (105.1%). In the manufacturing industry in the reporting period there was an increase of 20.2%. An increase in the production of food and beverages, nonmetallic mineral products, petroleum products, electrical equipment and motor vehicles, chemicals, ferrous and nonferrous metallurgy. In electricity, the supply of gas, steam and air conditioning increased volumes of production, transmission and distribution of electricity by 9.1% in the production and distribution of gaseous fuels - by 8.4%. In the water supply in January-May 2010 the volume index was 107%. In May 2010 the physical volume of industrial production, compared with May 2009 increased by 12.3%. - June 10, 2010 in the trade system of KASE trades in a specialized medium-term placement of government treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEOKAM-36 release of 80 with maturity of 3 years (1,080 days) Amount of successful bids totaled 6,666,666 bonds for KZT6.67 billion (47.6%), coupon rate - 3.6% per annum. In the total of active orders the subjects of retirement market had 13.0%, the share of Kazakhstan's second tier banks (STB) - 61.8%, clients STB - 24.1%, broker-dealers - 0.3%, their customers - 0.8%. According to data of the Central Securities Depository all deals on accommodation MEOKAM-36 output 80 to the end of the calculations based on trades executed. 2.0% of the total volume of placed bonds purchased by pension market subjects, 24.4% - BWI, 70.6% - clients of BWI, 3.0% - clients of broker- dealers. Sold by the Ministry of Finance MEOKAM automatically admitted to trading on the secondary market of KASE under the trading code MOM036_0080. This bond must be quoted in the trade system of KASE in net prices. Analysts JSC BCC Invest also expect the following developments in international markets: - in the Russian market is expected to yield regular data as the monetary base in narrow definition of the ruble at the beginning of the week. From corporate events worth mentioning the publication of financial statements of the Group "MMK" for the first quarter of 2010 under IFRS. At the opening of trading on Friday, analysts JSC "BCC Invest" expect a positive market sentiment on major indices, which may be due to optimism on the U.S. trading yesterday. Moreover, a positive external background from Asia today is also likely to contribute to the purchase in Russia. - European markets in the UK is expected to yield data on the volume of industrial output for April, as well as indices of producer prices at the outlet and inlet in May. In Germany, is expected to publish the index of wholesale prices last month, but in France there are data on the base and harmonized with the view of the EU inflation. - U.S. market last working day will also be sufficiently rich in macroeconomic publications. The main events of the day will yield data on retail sales in the country in May consumer sentiment index for June, the University of Michigan, as well as the volume of commercial stocks in April. All publications are expected to increase moderately. 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 470 479 +1.91 Neutral KKGBp 240 335 +39.58 Buy Halyk Bank HSBK 300 330 +10.00 Accumulate Bank CenterCredit CCBN 545 734 +34.68 Buy Tsesnabank TSBN 941 737 -21.68 Cut KazMunaiGaz RDGZ 18,800 21,300 +13.30 Hold Kazakhmys PLC GB_KZMS 2,350 3,559 +51.45 Buy ENRC PLC GB_ENRC 2,200 2,638 +19.91 Buy Kazakhtelekom KZTK 12,900 19,200 +48.84 Buy KZTKp 6,600 10,300 +56.06 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. [2010-06-11]