Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on june 22, 2010

/IRBIS, June 22, 2010/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on June 22, 2010. JSC Finance Company REAL Invest.kz notes the following significant events in world stock, commodity and currency markets: - Indexes European sites following Monday significantly gaining weight - the world's investors seized the euphoria of the statements of Chinese officials to move to a new, more flexible national currency. Such action of the Chinese authorities could theoretically have a positive impact on the trade balance of Western countries, which in relation to China are net importers of consumer goods. The euphoria lasted exactly before the opening of American courts, which, after a morning of growth of more than one percent, the day showed a downward momentum and eventually finished the trading session in negative range from -0.01 - up to -0.90 percentage points. Market participants viewed rightly, that even if Chinese officials would keep the floor and really soften the yuan, will all this quickly, except that the level of mitigation may be under pressure against a background of fairly substantial drop in the euro over the past six months that have adversely affected arrived at the Chinese exporters. Statement by the European Central Bank President Trichet that the EU will not allow the failures of the euro area, as the unit can not return to the days before the signing of the Maastricht Treaty establishing the European Economic and Monetary Union, according to "REAL Invest.kz", did not have no effect on the course of trading, because of its clearly unconvincing and uncorroborated eloquent words with concrete actions. - Developing countries have also noted no unanimity in the course of yesterday's bidding and the completion of the day at emerging markets sites took in different directions. As a positive factor in the statements made by the Central Bank of China to change monetary policy, constraining factor was the ambiguous dynamics of the primary sites, in particular, the attempt to storm a barrel level to $ 79 failed. - The contract for the supply of oil barrel during yesterday's trades reached the maximum marks at the level of $ 79 a barrel, but then the raw area, after the U.S. overtook index correction, under the influence of which was a big part of the day. Lower oil prices held even against the background of a small weakening of the U.S. dollar, thus, any correlation rate of the U.S. currency with commodity assets eventually came to naught. - The price of gold during the last trading session reaches historic maximum of $1,265 per ounce, but then, the prices of noble metal, most of the trading day in a state of correction, losing to the closure of more than 2% of the new maximum values. Given that the decline in gold prices took place under the influence of the correction of the commodity market, and reducing stock indexes, it is noted that the role of underlying asset troy ounce of gold, at least, during yesterday's session was lost, the process of bidding have undertaken technical factors. - Euro again failed to break the mark of 1.24. The outbreak of Correction American stock indexes do not allow yesterday to consolidate the success of major currency pair EUR/USD, exceeding that in the early trading mark of 1.24, but then decreases for the rest of the daily trading session. End of the day took place at the level below 1.23, which is 1.25% less than local maxima reached yesterday, a regional European currency. Similar dynamics was accompanied by Trade and other currency pair GBP/USD - breaking an important resistance level at around 1.49, the course the British pound and then the whole day decline. JSC Finance Company REAL Invest.kz notes the following significant events in Kazakhstan markets: - Halyk Savings Bank of Kazakhstan began negotiations with the government on the return of budget funds allocated in the anti- crisis program for the acquisition of the State 20.91% of common shares of the bank. In April 2009, the state represented by FNB SamrukKazyna has purchased 20.91% of the ordinary shares of National Bank for KZT27 billion. The two banks - Kazkommertsbank and National - we have gone to minority shareholders so that we could control the situation. We have already begun talks about is that these banks offer to return the resources, in particular, the People's Bank will return the resources in the budget, because the situation has stabilized, - Mr. Masimov said on Monday at a joint session of Parliament. This fact indicates the growth of liquidity of the banking sector and naturally expected to restart lending, however, according to "REAL Invest.kz", this is unlikely before the end of 2010 due to lower "quality" customer base. - Over KZT31 billion from the budget-2009, undeveloped in the past year, will be used to finance uncompleted projects. It was informed on Monday by Mr. Bolat Zhamishev Finance Minister of Kazakhstan. As a result of failure in 2009 budget in Kazakhstan amounted to about KZT60 billion - the biggest amount does not develop during the years of independence. Kazakh Prime Minister Karim Massimov set up a working group to study the causes of this situation, the guilt of all those responsible and to make proposals for their punishment, until the first leaders of ministries and departments. "Of course, no amount of development, even if to take away the unused amount of the reserve and savings on public procurement is very high, but I want to say that most of it - namely, KZT31.9 billion will still be mastered," - said Mr. Boris Zhamishev. Finance Minister explained that "these funds, in accordance with the rules of the new Budget Code, already included in the budget 2010." "Due to the attraction of free budget surpluses last year unfinished projects will be completed," - he said. Freed the amount of money could go to cover the budget deficit in 2010, but this two-edged sword, because it does not disbursements, by and large, this is the result of misguided planning and management, and there is no guarantee that the result in 2010 is not marked yet another "record". - Mr. Massimov asked the Ministry of Finance of the country with the request to prepare a plan to restore duties on some commodities. The Prime Minister said that these measures are needed to supplement the national budget. According to Mr. Massimov, Kazakhstan's economy has overcome the crisis, but "prices for raw materials and resources have already found about his point of stabilization." However, he did not elaborate on what products will enter duty. Kazakhstan has imposed export duties on crude oil and petroleum products in May 2008. Then, the duty on crude oil stood at 109.91 dollars per tons. She was later raised to 203.8 dollars. In January 2009, due to falling world oil prices it planned to delete up to 139.8 dollars, but eventually reduced to zero. Analysts of "REAL Invest.kz" think that this news will negatively affect the entire oil sector of the country. This material is for informational purposes and is not an offer or recommendation to perform any transaction in securities. Agency IRBIS is not responsible for the opinions expressed in this material. [2010-06-22]