Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on july 20, 2010

/IRBIS, July 20, 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 July 20, 2010. JSC Finance Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - Bidding on the western areas on Monday ended in different directions - fixed the growth of America, Europe up to the day lower. One of the major negative factors which are responsible for fixing profit in Europe, has investors worried that the results of stress tests of banks in the region will have a similar effect with the U.S. last year statute of limitations, and the reasons for that could serve as a lack of transparency, or received During a tasting disappointing results. The decline in Europe amounted to 0.2% -0.5%. USA markets is also quite uncertain started on the background dynamics of the European indices to the same pessimistic sentiments were supported by the publication of the Index values of the National Association of Homebuilders, that at the month fell by 2 points. Nevertheless, the day was completed by growth of quotations of about 0.6%, which contributed to record IBM, under which the profit of the company over the same period last year, up 29 cents, up 3 cents surpassed the initial projections of analysts. - platforms emerging markets all day that passes regain accumulated over the weekend negative, as well as weak closure of the West grounds last Friday. Most all of the BRIC countries "suffered" the Brazilian Bovespa, fell by 1.77%, Russia's RTS fell by half a percentage point. - oil prices in yesterday's trading twice reaching $ 77 per barrel - the upper limit of a local band which emerged during the last five trading sessions. Both yesterday's attempts to overcome the named level were unsuccessful, which to some extent contributed to the weak dynamics of the stock exchanges, but the correction was limited to only 30 cents, and closing of trades took place not far from the mark at $ 77, that probably will help the new traders' attempts to overcome it. - The cost of an ounce of gold all the previous day was trading near a support level around at around $ 1185 - 1190 an ounce, closing the day passed below this level, it is possible to talk about the formation of a new at least short-term downtrend. Trading volume was low, which excludes the possibility of creating such a situation, long-term investors. So far, according to analysts of "REAL Invest.kz", reason to suppose the nature of the investment decline is not enough. - currency pair EUR/USD has stalled before a mark of 1.30, and yesterday provided a good start, only the growth of the European currency a little more than half of the item. Analysts of "REAL Invest.kz" considered the most likely scenario is a small correction from current levels, with subsequent return to the growth of quotations. The British pound second consecutive session continues to be adjusted to approximately the same size and scale level, and by the end of the day came so close to the mark to 1.52, in the recent past is the most powerful resistance level, which is now the logic is supported. In the case of the rebound from the named mark analysts "REAL Invest.kz" suggests the resumption of growth. Analysts JSC "Finance Company" REAL Invest.kz" also notes the following major developments in the Kazakh market: - Fiscal Court of Almaty on Monday approved the outcome of debt restructuring Temirbank. Thus, debt restructuring Temirbank completed. - Fitch Ratings upgraded the long-term issuer default rating (IDR) of Kazakhstan's Alliance Bank's foreign currency at the level of "RD" (restricted defaulted) to "B-" and assigned a "Stable" rating outlook, rating agency reported Monday. This action follows the completion of restructuring liabilities of the bank and is the result of the review the bank's ratings initiated by Fitch March 31, 2010. - In Kazakhstan, will create the second Islamic bank. On 19 July in Astana, the plan of the project was signed Company Fattah Finance, Development Bank of Kazakhstan and the Malaysian Financial Group Amanaray. Analysts of "REAL Invest.kz" noted that the most attractive stories among the shares of Kazakh companies are RD Kazmunaigas, Kazakhtelecom and Halyk Bank. Especially attractive look and EP Kazakhtelecom, as both companies are very strong balance sheet with low debt burden, the EP's net debt at all negative, ie cash flows of the company exceed liabilities. Besides their business generates more free cash flow, which allows them to pay a very solid dividends. Dividend income on preferred shares of KMG and Kazakhtelecom is 6-8% and 3- 4% of ordinary shares. Shares of these companies are traded much cheaper than the shares of similar companies in other emerging markets. 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. [2010-07-20]