Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for August 25, 2010

/IRBIS, August 25, 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 25, 2010. According to the report, the company analysts expect today: - Before the opening of trading in Europe, the situation on the stock market remains negative. Asian indices traded in negative zone, in response to the negative statistics of U.S. sales of homes on the secondary real estate market. Worsens sentiment and weak Japanese exports statistics. According to figures published today, export growth of this country in July slowed to 23.5% annualized compared with 27.7% the month before. - For the European market of negative news will be the decision of rating agency S & P to downgrade credit rating of Ireland to one step to AA-on fears that the country needed more money to rescue the banking sector. According to new estimates the agency, the banking system need to recapitalize the country's 50 billion euros, 15 billion higher than previous estimates. If the budget expenditures of Ireland in this area will exceed expectations, the agency does not preclude further lowering of its sovereign rating. - Industrial metal at the auctions in Asia, falling in price, despite speculation that the season of slack demand for metals in China is coming to an end. Copper prices in Shanghai dropped by 0.5%. - Several softens the background positive trend in oil prices after the TALO is known that commercial oil reserves in the U.S., according to the API, dropped third week in a row. Quotes of oil during the morning session, added 0.3%. - Futures on major U.S. indices are also growing within 0.3% in the correction to yesterday's fall. The euro exchange rate prior to the sale in Europe also strengthened in the correction; this is unlikely due to the increasing demand for risky assets. - Today decisive for the market movement will be data on U.S. sales of new homes and dynamics of orders of durable goods. According to forecasts of economists, home sales remained unchanged in July after a strong growth in June to 23.6%. Dynamics of orders in July, according to forecasts, was positive and amounted to 3%. Except for the transportation component, orders rose by 0.5%. 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 5.5 9.8 Buy +78 KAZKOMMERTSBANK KASE 379.0 728.3 Buy +92 KAZKOMMERTSBANK -PREF KASE 242.0 388.5 Buy +61 HALYK BANK-GDR LSE 9.0 10.5 Buy +17 HALYK BANK KASE 310.0 377.5 Buy +22 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 526.0 1,531.0 Buy +191 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 18.3 30.1 Buy +65 KAZKMUNAIGAZ KASE 17,000.0 27,108.0 Buy +59 BMB MUNAI AMEX 0.53 2.54 Buy +379 -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,103.0 1,427.0 Buy +29 ENRC LSE 830.5 1,216.0 Buy +46 KAZAKHGOLD-GDR LSE 4.3 7.0 Buy +64 URANIUM ONE LSE 3.2 3.3 Hold +2 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 13,800.0 22,825.0 Buy +145 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. [2010-08-25]