Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for June 29, 2010

/IRBIS, June 29, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for June 29, 2010. Analysts of JSC "BCC Invest" now expect lower stock price in the course of trading on KASE, as the gap between the stock quotes on the local market and stock quotes, and depository receipts of Kazakhstan companies in London, survived, and arbitrageurs are not long in coming. JSC BCC Invest also note the following important events in Kazakhstan's market: - Money supply in Kazakhstan in May 2010 increased by 0.5% to 8 trillion. KZT50.5 billion informed National Bank. According to the National Bank, since the beginning of this year, money supply grew by 7.5%. The volume of cash in circulation in May rose by 3.4% to KZT990.6 billion (from the beginning of the year - an increase of 8.4%). Meanwhile, the monetary base (reserve money) on May shrank by 5% to KZT2 trillion 518.3 billion (from the beginning of the year increased by 2.8%). Narrow monetary base (excluding time deposits of banks in the second level in National Bank) increased by 0.5% to KZT2 trillion 5.7 billion (from the beginning of the year - increased 4.9%). - JSC "Samruk-Energo" in conjunction with the Group of Kazakhmys, KEPCO and Samsung C&T announced the launch of the project Balkhash Thermal Power Plant. June 28 held a teleconference with the President of Kazakhstan Nursultan Nazarbayev on the opening ceremony of the symbolic stone to mark the start of the project to build the Balkhash power station. The ceremony was also attended by government members, representatives of local communities and companies involved in the project. Construction of this station is necessary to prevent energy shortages in the southern part of the country, where more than 40% of the population of Kazakhstan. Power station, consisting of two units, sostavit1320 MW, and can be further increased to 2640 MW. The project on construction of the Balkhash Thermal Power Plant will be implemented between 2010 and 2015 the efforts of the consortium, which consists of JSC "Samruk-Energy in partnership with Kazakhmys, KEPCO and Samsung C&T. In accordance with the decision of the Government of the state's share in the consortium is 25% + 1 share. Although this message and corresponds to the earlier statement, according to analysts of JSC "BCC Invest", construction of the Balkhash Thermal Power Plant in the end positively for the company Kazakhmys PLC, as will maintain a leading position in repo world cost of copper and related products due to relatively cheap electricity. JSC "BCC Invest" reiterates the recommendation of "hold" on the shares Kazakhmsy PLC with target prices of KZT3,135 and 1,322 pence per share. Analysts JSC BCC Invest also expect the following developments in international markets: - Russian market is expected to moderate market opening in Russia: according to analysts of JSC "BCC Invest", the market will push the weak macroeconomic statistics, published in the U.S. on Monday, and a decline in oil futures quotations. Asian indexes today are traded mostly in negative. Further dynamics of the market will determine the course of trading on European trading floors, and to a greater extent, the opening of trading in the U.S. Most likely, the MICEX and RTS indexes will finish the day on a negative territory. - U.S. market is expected to publish the data as the housing market in April from $&P/CaseShiller, as well as the index of consumer confidence ... 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 430.10 479 +11.37 Neutral KKGBp 240 335 +39.58 Buy Halyk Bank HSBK 310 366 +24.52 Buy Bank CenterCredit CCBN 542 734 +35.42 Buy Tsesnabank TSBN 941.01 737 -21.68 Cut KazMunaiGaz RDGZ 17,000 21,300 +25.29 Hold Kazakhmys PLC GB_KZMS 2,520 3,135 +25.40 Hold ENRC PLC GB_ENRC 2,225 2,638 +18.56 Buy Kazakhtelekom KZTK 14,500 19,200 +32.41 Buy KZTKp 6,600 10,300 +56.06 Buy MREK MREK 1,000 1,130 +13.00 Hold ---------------------------------------------------------------------- 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. [2010-06-29]