Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 19, 2010

/IRBIS, July 19, 2010/ -BTA Bank JSC subsidiary BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for July 19, 2010. According to the report, the company analysts expect today: - today before the opening of trading, in general consists of negative background news associated with a significant drop in major U.S. indexes on Friday and Asia today, on weak financial results of Bank of America, Citigroup and General Electric. Over the past two trading days the index S & P500 fell back heavily on the significant mark of 1,100 points, about which he was three days. The market clearly lacked strong driver for further growth, and negative corporate results led investors to take profits. This VIX Index, the so-called volatility index, or as it is called - an index of fear, grew by only 4.4%, which is comparable to the rate of decline of the market. This suggests that there is no panic on the market. Today, the market dynamics will be determined largely corporate results. In Europe today reported: of Daimler and Electrolux, in the United States - Texas Instruments, Halliburton and Zions Bancorp. - today expected European market shares declined on the negative of the U.S. economy and corporate news will lead to a similar sentiment on the Kazakhstan market. The negative dynamics touches common shares of commodity companies. The trend could also embrace the banking sector, as fall in the U.S. market was associated with poor outcome of the activities of banks. - oil quotes from clinging to the key mark of 78 dollars/barrel, and again fell back on the support level of 75 dollars / barrel. On the technical side is not an opportunity to overcome the level of 78 dollars per barrel for the past several months doing all the taking of a ghostly "bulls" mark 80 dollars per barrel. Regarding fundamental factors, the ambient background in the recently formed ambiguous, this adds to volatility in the oil market. Analysts of BTA Securities noted that today is the day will be scarce on the yield of economic data, and, most likely, the oil quotes will move after the stock indices and currency pairs. - today, perhaps the price of gold will win back part of Friday's losses on the background of technical correction. In addition, quotes fell below in 1200 dollars/ounce, and are attractive to speculative purchases. With regard to base metals, today is likely to be built day absence of strong ideas on the market, and investors in the metallurgical market will focus on the stock market. - July 19 euro will weaken against the background of the negative current account of the EU. The British pound weakened against the background will reduce the price of real estate UK. Analysts of BTA Securities give the following advice for investors in securities of issuers in Kazakhstan: -------------------------------------------------------------------------- Stock Final Target price Recom Potential Emitter Exch price 2010 year mendation % percent ange -------------------------- ----- -------- ------------ --------- --------- Banks -------------------------------------------------------------------------- KAZKOMMERTSBANK-GDR LSE 4.8 9.8 Buy +102 KAZKOMMERTSBANK KASE 390.5 728.3 Buy +87 KAZKOMMERTSBANK -PREF KASE 209.0 388.5 Buy +86 HALYK BANK-GDR LSE 8.4 9.7 Buy +25 HALYK BANK KASE 320.0 348.1 Buy +18 HALYK BANK -PREF (HSBKP) KASE 180.0 174.0 Hold +5 HALYK BANK -PREF1 (HSBKP1) KASE 171.0 174.0 Hold +10 BANK CENTER CREDIT KASE 524.0 1,531.0 Buy +192 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.2 30.1 Buy +57 KAZKMUNAIGAZ KASE 16,950.0 27,108.0 Buy +60 BMB MUNAI AMEX 0.58 2.54 Buy +336 -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,024.0 1,427.0 Buy +39 ENRC LSE 839.5 1,216.0 Buy +45 KAZAKHGOLD-GDR LSE 4.8 7.0 Buy +47 URANIUM ONE LSE 2.9 3.3 Buy +16 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 15,000.0 22,490.0 Buy +50 STEPPE CEMENT LSE 48.5 120.9 Buy +149 -------------------------------------------------------------------------- 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. [2010-07-19]