Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for August 11, 2010
11.08.10 17:56
/IRBIS. August 11, 2010/ - BCC Invest JSC has provided IRBIS with a
survey of main events, market reviews and investment ideas for August 11,
2010.
Analysts of JSC "BCC Invest" now expects mixed opening trades at
KASE on the background of the decline of shares and depositary receipts
of Kazakh companies in London yesterday. During the day, fixing the profit
may continue, which again could lead to a negative close on index KASE.
.JSC BCC Invest also note the following important events in the
Kazakhstan market:
- The unemployment rate in Kazakhstan in July amounted to 5.7%.
The economy of the republic in July 2010 (estimated) was employed
8.2 million people. With regard to the same period last year their
number increased by 248.0 thousand people or 3.1%. Number of
employees in that period amounted to 5.4 million (66.3% of total
employment). The number of unemployed in July was estimated at
498.1 thousand people, the unemployment rate - 5.7%. Officially the
end of July 2010 is registered at employment services of the Ministry of
Labor and Social Protection of Kazakhstan - 71.7 thousand people.
The proportion of registered unemployed amounted to 0.8% of the
economically active population (July 2009 - 1.2%). It is estimated that
in July 2010 level of hidden unemployment was 0.4% of the
economically active population. Unemployed (according to ILO
standards) - is a person who had no gainful employment (work), he
actively sought and were ready for him. Hidden unemployment
(involuntary part-time employment) - shows how the number of
workers employed in the mode of reduced working week, or part-time,
and is on administrative leave without pay or with partial pay. The level
of hidden unemployment - the share does not fully (partly) occupied
and are on forced leave of workers in the economically active
population, measured in percentage.
.JSC BCC Invest also note the following important events in world
market:
- in the Russian market is expected to yield regular data on weekly
inflation at the current Monday. In addition, in the middle of the week is
expected to publish data on the growth of GDP in the second quarter
relative to the same period last year. At the opening of trading on
Wednesday, analysts of JSC "BCC Invest" expect adverse market
dynamics on the closed downward against the eve of the U.S. stock
market.
- European markets, world investors will follow the release of statistics
from China, where today went out data on inflation, the index of
producer prices, data on the volume of industrial production, as well as
data on retail sales in July. In addition, in the UK there are data on
unemployment for June and July. Also, today released a report of the
Bank of England on inflation.
- U.S. market is data on the trade balance in June, and stocks of
petroleum and petroleum products per week. In addition, to be
published monthly report on the budget for July. In the corporate sector
is expected to announce financial statements of companies as Cisco
Systems and Macy's 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 445 479 +7.64 Neutral
KKGBp 209 335 +60.29 Buy
Halyk Bank HSBK 349.90 386 +10.32 Buy
Bank CenterCredit CCBN 552 734 +32.97 Buy
Tsesnabank TSBN 960 737 -23.23 Cut
KazMunaiGaz RDGZ 17,601 Review
Kazakhmys PLC GB_KZMS 2,950 3,392 +14.98 Hold
ENRC PLC GB_ENRC 2,180 2,638 +21.01 Buy
Kazakhtelekom KZTK 14,789.99 19,200 +29.82 Buy
KZTKp 7,425 9,300 +25.25 Buy
MREK MREK 1,100 1,130 +2.73 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.
[2010-08-11]