Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for July 23, 2010
23.07.10 17:48
/IRBIS. July 23, 2010/ - BCC Invest JSC has provided IRBIS with a survey
of main events, market reviews and investment ideas for July 23, 2010.
Analysts of JSC "BCC Invest" now expect positive opening trades at
KASE on external positive background, however, during the day investors
can begin to capture profits and close positions before the weekend, which
could negatively affect the dynamics of the final day.
JSC BCC Invest also note the following important events in Kazakhstan
market:
- July 22, 2010 in the trade system of KASE trades in a specialized
medium-term placement of government treasury bills of the
Ministry of Finance of the Republic of Kazakhstan MEOKAM-48
release of 44 with maturity of 4 years (1440 days) and frequency of
coupon payment 2 times a year. The volume of requests met totaled
10,558,000 units amounting to KZT10.56 billion (81.2% of the plan),
coupon rate - 4.5% per annum. In total active bids on pension market
entities had 9.6%, the share of Kazakhstan's second-tier banks (BWI)
- 81.5%, broker-dealers - 2.8% of their customers - 6.1%. According
to the data of the Central Securities Depository all deals on
accommodation MEOKAM-48 Release 44, to the end of the
calculations based on trades executed. 16.8% of the total volume of
placed bonds was purchased by entities pension market, 65.3% - BWI,
1.9% - broker-dealer companies, 16.0% - customers' broker-dealer
companies. Sold by the Ministry of Finance MEOKAM automatically
admitted to trading on the secondary market of KASE under the trading
code MOM048_0044. This bond must be quoted in the trade system of
KASE in net prices.
- Company KAZAKHMYS PLC (United Kingdom) reported on the
inclusion of the company in the list of Association of London
Bullion Market (LBMA). After testing silver bullion Balkhash
metallurgical company. Research and analysis of silver bullion was
conducted by independent experts. Kazakhmys Company has satisfied
the LBMA on the productive capacity and financial situation. In the
installation of a new automated bottling line of silver bullion, the
company invested 710 thousand dollars. Weight of one ingot in
accordance with international standard is 1000 ounces or 31.1 kg.
Production capacity is set for casting of silver ingots of 400 tons per
year. According to JSC "BCC Invest", the message is neutral for the
stock price Kazakhmys PLC, as is more image character. Analysts of
JSC "BCC Invest" confirm the recommendation of "buy" on shares of
Kazakhmys PLC with target prices of 1,322 pence and KZT3,135 per
share.
JSC BCC Invest also note the following important events in world
market:
- Russian market trades are likely to be opened growth against a
background of positive closing in America before, but towards the end
of trading session, investors will likely begin to capture profits from the
week before the weekend, which should lead to the sale on the market
and lower indices.
- U.S. market publications relevant macroeconomic statistics in the U.S.
is not expected. The publication of corporate reports for the second
quarter will continue. In particular, will be published reports of
companies such as Southern Copper Corp, McDonald's Corp,
Schlumberger Ltd, Ford Motor Co and Verizon Communications Inc.
Analysts of BCC Invest JSC are giving the following advice for
investors in securities of issuers in internal market:
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Issuer Last price Target Predicted price.
code price % Recom-
mendation
----------------- ------- ---------- ------ ---------------- ---------
Kazkommertsbank KKGB 356 479 +34.55 Neutral
KKGBp 209 335 +60.29 Buy
Halyk Bank HSBK 313 386 +23.32 Buy
Bank CenterCredit CCBN 520 734 +41.15 Buy
Tsesnabank TSBN 970 737 -24.02 Cut
KazMunaiGaz RDGZ 16,900 Review
Kazakhmys PLC GB_KZMS 2,450 3,135 +27.96 Hold
ENRC PLC GB_ENRC 2,000 2,638 +31.90 Buy
Kazakhtelekom KZTK 14,800 19,200 +29.73 Buy
KZTKp 7,315 9,300 +27.14 Buy
MREK MREK 1,000 1,130 +13.00 Hold
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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.
[2010-07-23]