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

/IRBIS, October 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 October 11, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - Today, the Asian trading session demonstrates the overall positive dynamics of the major indexes in the region. Hong Kong and China grow significant pace on speculation that the weak U.S. employment data for September will lead to the adoption of new measures of quantitative easing and higher prices for commodities. Hang Seng Index adds more than 1%, Shanghai Composite rising more than 2%. The latter shows a significant rate of increase for the second consecutive day. - The euro/dollar continues to rise today on expectations negative for the U.S. FOMC decision at a meeting on Wednesday, October 13. - Prices for industrial metals and oil prices rise on expectations of further dollar decline and increasing demand for raw materials as a means of hedging currency risks. Brent crude rises in price on 0.45% and is trading above $ 84 a barrel. Copper in Shanghai rises in price by more than 3.5%. - European investors today are likely to catch the sentiment of the Asian market. Rising prices for raw materials should support the share prices of oil and metals producers. It should be noted that in the last two days of raw material in terms of growth ahead of the shares of mining companies. - According to the BTA Securities, the topic of quantitative easing today will prevail in the U.S. session in the absence of significant macro- statistics for the United States. Some influence on the market will provide corporate and financial results. Reporting season in the U.S. started well with a strong report, Alcoa. - news background, according to BTA Securities, today, is positive for stocks Kazakh mining companies. Shares of Kazakhmys and ENRC, falling last week on news of the purchase by the state block of shares in these companies, far behind in the dynamics of continuing their rise in prices for copper and aluminum. The market should play a substantial increase in the gap of stock price. 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 6.0 9.8 Buy +63 KAZKOMMERTSBANK KASE 445.0 728.3 Buy +64 KAZKOMMERTSBANK -PREF KASE 220.0 388.5 Buy +77 HALYK BANK-GDR LSE 8.6 10.5 Buy +22 HALYK BANK KASE 320.0 377.5 Buy +18 HALYK BANK -PREF (HSBKP) KASE 185.2 189.0 Hold +2 HALYK BANK -PREF1 (HSBKP1) KASE 175.0 189.0 Hold +8 BANK CENTER CREDIT KASE 559.0 1,531.0 Buy +174 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 17.5 n/a Review n/a KAZKMUNAIGAZ KASE 16,340.0 n/a Review n/a BMB MUNAI AMEX 0.60 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,405.0 1,427.0 Hold +2 ENRC LSE 907.0 1,216.0 Buy +34 KAZAKHGOLD-GDR LSE 4.1 7.0 Buy +72 URANIUM ONE LSE 3.6 3.3 Hold -9 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 15,850.0 22,825.0 Buy +113 STEPPE CEMENT LSE 46.5 120.9 Buy +160 -------------------------------------------------------------------------- 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. [2010-10-11]