Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 20, 2010

/IRBIS, July 20, 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 20, 2010. According to the report, the company analysts expect today: - hours trading on the American market could move in a positive direction after sensing the fall on Friday. In the view of analysts of BTA Securities, investors do not want to leave the market because the shares look undervalued, and profits are growing, judging by the results of the first two weeks of the season reporting. Today buying on the market could continue through the news from Asia, where the Chinese market is growing for the second consecutive day on speculation that China's regulators can mitigate measures to cool the property market and economy after GDP Celestial slowed in the second quarter, while prices for estate fell. According to the market, now there are downside risks, rather than overheating. Before the opening of trading in Europe, the dynamics of the market favors growth. Euro and British pound strengthened against the dollar, indicating that the growth in demand for risky assets, futures on oil and industrial metals are growing at a moderate pace. Asian markets, except Japan, are growing by more than 1%. In the evening the pressure on the market will provide data for June on the number of permits for new construction and new buildings in the United States. In recent months, statistics were consistently negative, so investors will be treating it with suspicion. Caution, of course, will also be focused on corporate results. Today accountable: Johnson & Johnson, Bank of New-York, Goldman Sachs, Pepsi Co, Peabody Energy. After the close of business in the U.S. have already reported, IBM and Texas Instruments, company results were worse than analysts' expectations for earnings and revenues. - day trading on the domestic market will take place in a moderately positively to the expected rise in the stock market in Europe on the positive news from China. The interest of investors may rise to the raw shares, but it would depend on the vigor of their quotations on the London Stock Exchange. - the technical side, the potential reduction in both major contracts remains. Last week the contracts have not been able to comprehensively test the resistance levels in the range of 78-79 dollars per barrel, but had more success in breaking through support levels below 76 dollars per barrel. Moreover, quotations even went below 75 dollars per barrel in intraday trading, which involves further attempts to test U.S. $ 73-74 per barrel range. Growth stocks of petroleum products and a possible increase in crude oil reserves in the U.S. will strengthen the negative trends. - As part of the strong euro against the dollar and stabilize the situation in Europe, gold loses its relevance as a security tool and continues to fall. Perhaps in the continuation of growth of pair euro/dollar to levels 1.31-1.33, "yellow metal" will update the next minima. Industrial metals are the same, despite the negative economic data from China may continue to rise against the general-upward trend in the stock markets and commodity markets. - July 20 euro strengthened against the negative on the U.S. housing market. The British pound will strengthen against the reduction of money supply 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 4.9 9.8 Buy +100 KAZKOMMERTSBANK KASE 370.0 728.3 Buy +97 KAZKOMMERTSBANK -PREF KASE 209.0 388.5 Buy +86 HALYK BANK-GDR LSE 8.3 10.5 Buy +27 HALYK BANK KASE 315.0 377.5 Buy +20 HALYK BANK -PREF (HSBKP) KASE 180.0 189.0 Hold +5 HALYK BANK -PREF1 (HSBKP1) KASE 171.0 189.0 Hold +10 BANK CENTER CREDIT KASE 520.0 1,531.0 Buy +194 -------------------------- ----- -------- ------------ --------- --------- 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 0.56 2.54 Buy +352 -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,017.0 1,427.0 Buy +40 ENRC LSE 838.5 1,216.0 Buy +45 KAZAKHGOLD-GDR LSE 4.8 7.0 Buy +47 URANIUM ONE LSE 2.9 3.3 Buy +15 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 15,100.0 22,490.0 Buy +49 STEPPE CEMENT LSE 45.5 120.9 Buy +166 -------------------------------------------------------------------------- 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. [2010-07-20]