Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on August 2, 2010

/IRBIS, August 2, 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 August 2, 2010. JSC Finance Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - major U.S. stock indexes finished the final session of the month without significant changes, Europe closed the different directions. The most anticipated news last Friday certainly include the publication of data on changes in U.S. GDP in the second quarter, according to which the figure was a mark in 2.4%, which is 0.1% less than analysts' forecasts. Market participants met the news friendly profit-taking - in favor of that type of trading also played a factor in the completion of the week, month, and the first half. At the same time, July was the most successful month this year; he came to recover from a three-month decline. Dow Jones has managed to grow by 7.1%, S&P 500 up to July added about 6.9%. Europe, in contrast to the U.S. sites, so before the end of the day to recover and failed. But the following month, the site of Europe with a supply outstripped their overseas counterparts, the French CAC 40 in July, added 9.5%, Britain's FTSE - 9%, and the German DAX rose by 5.7%. Good mood among market participants appeared well before the opening of stock exchanges in the U.S. - the steady growth of European sites added a cascade of positive macroeconomic statistics, in particular, the total number of unemployed receiving benefits in the U.S. last month fell by 223 thousand, while analysts expected decrease by no more than 170 thousand 30 minutes after the start of trading, published data on sales in the secondary housing market, according to which the number of homes sold in June increased by 280 thousand units, as well as the value published a leading indicator of the U.S. economy, a reduction which was exactly half the forecasts of specialists. Of the total number of published yesterday, corporate reports "REAL Invest.kz" highlights the Finnish handset manufacturers Nokia, whose earnings are fully in line with forecasts to $ 0.11 a share, from tobacco giant Phillip Morris, showed a profit even at $ 1 per share, up 20 % over the same period last year, and the leader of copiers Xerox, increase profitability compared with the previous year by 50%. S & P 500 managed to close near the mark of 1,100 points from a week earlier, began to fall quotes so bad start to the season of corporate reports in the U.S. to this point almost entirely offset by yesterday's growth. - July and proved to be good grounds for emerging markets, more than all the Russian RTS added, by 12.2%, the second proved to be the Chinese Shanghai Composite, an increase of 11.5%, is located on the Bovespa in Brazil with 10.9%, behind only India's BSE, has added only 2.4%. - barrel of oil up on Friday again managed to get to the mark near the local maximum, adding up to the day more than 1.5%. There is a high volume of trading and, therefore, suggest that market participants considered the current price of oil the most attractive of all the remaining instruments for investment, and attention to the stock exchanges has shifted to the primary site. The past month for a barrel of oil was very similar to the dynamics with June - the decline in the early days up to the mark at $ 70 both times was replaced by the growth of up to $ 80, but if in the first case, quotes for a peak hold failed, then July was closed with a fairly clear claims on the penetration of $ 80. - troy ounce of gold, despite the restoration half percentage quotations, held last Friday, completed a month, decreasing by 1.3%. With regard to historic highs reached in mid-June, at the moment gold is trading with a six percent discount, according to "REAL Invest.kz" due to a shift in focus of market participants in favor of more volatile and potentially risky instruments. Analysts of "REAL Invest.kz" believe that upon completion of corporate reporting season, investors' interest in "precious metal" will return. - the final session of the month brought no significant changes to the currency pair EUR/USD, traders never managed to storm the mark of 1.31. After a long period of finding the resistance level at around 1.30, "bears" after taking their positions have moved by only 1 point higher, which probably speaks of the desire of brakes on a two- month rise in the euro, and probably will cause a new downward correction. Following months of the euro added 4.6%, just the same, since the beginning of growth in early June, quotes, currency pair EUR/USD was added a little less than 10%. The British pound, in contrast, has completed a month on a positive note, the second attempt at breaking a mark 1.57. Since the beginning of the month added a pound of 4.8% since the beginning of the growth of mid-May - more than 10%, and at the moment, analysts of "REAL Invest.kz" believe that there is no reason to expect the completion of the current momentum of growth. Analysts JSC "Finance Company" REAL Invest.kz" also notes the following major developments in the Kazakh market: - Loans to second-tier banks in the economy during January-June 2010 decreased for 2.2% - from KZT7.644 trillion to KZT7.476 trillion, National Bank said Thursday. However, as noted in the announcement of the National Bank, the volume of loans in national currency rose from KZT3.944 trillion on January 1, 2010 to KZT4.034 trillion on July 1, 2010, and in foreign currency - has declined from KZT3.699 trillion to KZT3.442 trillion respectively. - Net profit of JSC "Zhayremsky GOK" in January-June 2010 amounted to KZT1.3 billion against KZT850.2 million in January- June 2009, according to the consolidated financial statements combine. Thus, net profit increased by 1.5 times. - The trade system of KASE on August 3 held special auctions on placing of coupon bonds Kazkommertsbank. Declared amount of placement of 3 million coupon bonds or 8.6% of the total registered bonds of this issue (35 million), the nominal value of one bond - KZT1000 (147.58 current/$1). Coupon rate of 9% per annum of the par value of bonds over the life of the bond, the payment coupon is produced twice a year. Term of bonds - 6 years. 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. [2010-08-02]