Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for August 10, 2010

/IRBIS. August 10, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for August 10, 2010. Analysts of JSC "BCC Invest" now expect moderately mixed opening trades at KASE on the background of multidirectional closing on the shares and depositary receipts of Kazakh companies in London yesterday. Many investors prefer to take profits and close positions in the stocks before Fed decision on U.S. monetary policy that eventually could steal KASE index in negative territory. JSC BCC Invest also note the following important events in the Kazakhstan market: - Kazakhstan Stock Exchange (KASE) informs that on Aug. 11, 2010 in the trade system of KASE held special auctions on placement of government medium-term treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEOKAM-36 release in 1981 with maturity of 3 years (1080 days) and frequency of payments coupon 2 times a year. Declared amount of placement of KZT10 billion. The subject of bargaining will be the coupon rate - The company Max Petroleum PLC announced the results of drilling development and appraisal well ZMA-A15 on the field, Jean Makat. Operational and appraisal well ZMA-A15 on the field Zhana Makat has reached a depth of 1,525 m, the interpretation of electric log data shows the total effective thickness of layers 30 yards, including two of the Jurassic reservoir with an effective thickness of layers 12 meters at depths ranging from 780 to 829 meters and two Triassic reservoir with effective thickness of layers 18 meters at depths ranging from 1,277 to 1,331 meters. The main purpose of the well was J-IIb Jurassic reservoir with additional exploration to in the Triassic. As expected, J- IIb Jurassic reservoir is well developed. Triassic reservoirs are productive in adjacent Zhana Makat deposits, while on the field, Zhana Makat extraction was carried out only Jurassic and Neocomian interval. Thus, a successful test of the Triassic reservoir will constitute a new discovery and expansion of the deposit Zhana Makat. The company completes the layout of the operational casing in the borehole, after which the rig Sun ZJ-30 will be moved to drill an exploration well KAW-1 gas prospect Karsak West of Block E. The company will complete development and begin testing wells ZMA-A15, using a repair installation. Test wells will be several weeks, after which the results will be announced. According to JSC "BCC Invest", the message is positive for the stock price of the company, which yesterday reacted to a rapid growth. However, the real impact on the fundamental value of the company may be assessed only after the completion and announcement of the results of testing the well. Analysts of JSC "BCC Invest" confirm the recommendation of the "hold" on the shares of Max Petroleum PLC with target price of 21 pence per share. JSC BCC Invest also note the following important events in world market: - in the Russian market is expected to yield data as the state budget in July. In addition, earlier this week is expected to yield data on the trade balance for June. At the opening of trading on Tuesday, analysts of JSC "BCC Invest" expect neutral dynamics of the market in different directions on the background mood on Asian stock markets at the moment. Nevertheless, yesterday's positive conclusion of the auction in the U.S. can support the market in the early afternoon. - European markets are expected to publish the consumer price index in Germany in July. The UK will measure the trade balance in June, which last month was a deficit of 8.1 billion dollars - U.S. market is expected to yield data on the performance of non- agricultural economy in the second quarter of this year, as well as the volume of wholesale stocks for June. Also today, the Fed is expected decision on interest rates, as well as comments made by the FOMC to further monetary policy authorities. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: ---------------------------------------------------------------------- Issuer Last price Target Predicted price. code price % Recom- mendation ----------------- ------- ---------- ------ ---------------- --------- Kazkommertsbank KKGB 470 479 +1.91 Neutral KKGBp 209 335 +60.29 Buy Halyk Bank HSBK 345 386 +11.88 Buy Bank CenterCredit CCBN 569.99 734 +28.77 Buy Tsesnabank TSBN 960 737 -23.23 Cut KazMunaiGaz RDGZ 17,900 Review Kazakhmys PLC GB_KZMS 3,000 3,392 +13.07 Hold ENRC PLC GB_ENRC 2,281 2,638 +15.65 Buy Kazakhtelekom KZTK 14,650 19,200 +31.06 Buy KZTKp 7,425 9,300 +25.25 Buy MREK MREK 1,100 1,130 +2.73 Hold ---------------------------------------------------------------------- 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. [2010-08-10]