Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for August 11, 2010

/IRBIS, August 11, 2010/ -BTA Bank JSC subsidiary BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for August 11, 2010. According to the report, the company analysts expect today: - before the start of trading in Europe today there is some uncertainty. On the one hand the Fed decision to continue buying U.S. Treasury bonds positive for the market, especially since the Europeans did not fully played the news. On the other hand, the Chinese market gives because for some optimism, the statistics on inflation there has been at the level of expectations of economists, and industrial production slowed growth, allowing again speculating on preserving China's soft monetary policy. However, the Chinese after moderate growth at the opening of trading on the Shanghai Stock Exchange, once again depressed. The Japanese market did fall by more than 2%. Orders of machinery and equipment in this country in June rose by 1.6% than the lower-than-expected pace, fueling fears about the possibility of economic recession. Of major macroeconomic news on the U.S. and Europe today is not. According to analysts of BTA Securities, trades can take today in a restrained way. - quotations of Kazakh banks, according to BTA Securities and today will take a break. Moderate support for the local market may come from the primary front. Excessiveness of sales of metals and mining company shares during the last session on the world sites can now help quotes Kazakhmys and ENRC and rehabilitate the local market. - Analysts of BTA Securities noted the support level of 80 dollars per barrel was very fragile, and with a small negative calmly breaks as "bears". In the case of another portion of bad economic news and prices can be far away from 80 dollars per barrel, the mark of 78 dollars per barrel, which forms the next level of support. Today is expected to have a number of important macro data on the U.S., including oil reserves in the U.S., which analysts must be positive. Yesterday, API issued a report that the oil reserves in the U.S. plummeted by 2.2 million barrels last week. - at this time in the Asian trading session, there is rebound quotations copper after a fairly substantial reduction in recent days. Approximate view of Chinese imports shows the first four months of growth of imported copper and iron ore that is fundamentally very good even for the producers of raw materials, including for Kazakhmys in ENRC. - August 11 euro strengthened to technical reasons. In the American session on a positive U.S. trade balance locally strengthen the dollar. The British pound will strengthen due to the correlation with the euro. In the European session, the negative labor market locally weaken British pound. 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 5.9 9.8 Buy +66 KAZKOMMERTSBANK KASE 445.0 728.3 Buy +64 KAZKOMMERTSBANK -PREF KASE 209.0 388.5 Buy +86 HALYK BANK-GDR LSE 9.2 10.5 Buy +14 HALYK BANK KASE 349.9 377.5 Hold +8 HALYK BANK -PREF (HSBKP) KASE 186.0 189.0 Hold +1 HALYK BANK -PREF1 (HSBKP1) KASE 171.0 189.0 Hold +10 BANK CENTER CREDIT KASE 552.0 1,531.0 Buy +177 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.9 30.1 Buy +51 KAZKMUNAIGAZ KASE 17,601.0 27,108.0 Buy +54 BMB MUNAI AMEX 0.57 2.54 Buy +346 -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,241.0 1,427.0 Hold +15 ENRC LSE 965.5 1,216.0 Buy +26 KAZAKHGOLD-GDR LSE 4.5 7.0 Buy +56 URANIUM ONE LSE 3.1 3.3 Hold +8 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 14,790.0 22,490.0 Buy +52 STEPPE CEMENT LSE 47.5 120.9 Buy +155 -------------------------------------------------------------------------- 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. [2010-08-11]