Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for October 15, 2010

/IRBIS. October 15, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for October 15, 2010. Analysts of JSC "BCC Invest" now expect mixed dynamics on the shares included in KASE index on ambiguous external background. By the end of the day is possible wave of sales on the background of profit-taking before the weekend. JSC "BCC Invest" also notes the following important events in the Kazakh market: - Kazakh national company KazMunaiGaz plans to issue discount unsecured bonds worth KZT100 billion. This decision was adopted by the board of directors, in published on the website of Kazakhstan Stock Exchange extract from the minutes of board meetings. The number of bonds specified in the $ 100 million, face value of one security -1 th. The proceeds from the issue will be channeled to finance investment programs, and refinancing of current debt of the company. - Rating agency Fitch Ratings affirmed the long-term issuer default rating (IDR) in foreign currency at "BBB-" and short-term foreign currency IDR "F3" Kazakh company JSC KazTransOil, the agency. The outlook on the long-term issuer default rating - "Stable". As noted in the news agency, the ratings KazTransOil reflect the company's monopoly position in the sector of transportation of oil in Kazakhstan, whose economy depends on the development of the petroleum industry. Fitch believes the company is well positioned to take advantage of expected growth of oil production in Kazakhstan in the medium term. - Zhaikmunai Finance BV, "Daughter" Oil Company Zhaikmunai, places Eurobonds on $ 450 million maturity of up to October 19, 2015 with a fixed coupon rate of 10.5% per annum, said, Zhaikmunai on Thursday. Proceeds from the bond issue will be used to refinance existing indebtedness of the company ("Zhaikmunai" syndicated loan for $ 382 million), as well as for general corporate purposes. Citibank, ING and JP Morgan acted as joint lead managers. The planned release has received the preliminary rating of "B" from S & P and "B3" by Moody's. The company filed a statement to these securities were included in the official list of the Luxembourg Stock Exchange. - Standard & Poor's placed the long-term credit rating of "B" of Kazakh oil company Zhaikmunai on CreditWatch with positive implications, the rating agency reported. According to the report, putting ratings on CreditWatch with positive outlook reflects the possibility of increasing the rating by one notch in the case of a successful bond issue by the company and use the proceeds from the issue to refinance its debt obligations. Agency expects to derive ratings from CreditWatch shortly after the planned bond issue. According to the report, while producing long-term priority of fixed income bonds, scheduled Zhaikmunai Finance BV guaranteed by Zhaikmunai, assigned a preliminary long-term rating "B". Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data on the Producer Price Index for September. - Europe will be published data on the consumer price index for September, as well as data on the Euro zone's trade balance for August. - U.S. at 18:15 (AST) will be the speech of the U.S. Federal Reserve Chairman Mr. Ben Bernanke. Today at 18:30 (AST) will be published data on inflation and retail sales for September, as well as the Empire manufacturing index Manufacturing Federal Reserve Bank of New York. At 19:55 (AST) will be published on the index of consumer confidence in the University of Michigan University in October, and 20:00 (AST)-inventory data for October. Today after the close of trading will publish their reports General Electric Co. 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 439 479 +9.11 Neutral KKGBp 220 335 +52.27 Buy Halyk Bank HSBK 330 386 +16.97 Buy Bank CenterCredit CCBN 582 646 +11.00 Hold Tsesnabank TSBN 940 1,030 +9.57 Neutral KazMunaiGaz RDGZ 16,230 22,300 +37.40 Buy Kazakhmys PLC GB_KZMS 3,300.01 3,392 +2.79 Neutral ENRC PLC GB_ENRC 2,200 2,858 +29.91 Buy Kazakhtelekom KZTK 15,903 19,200 +20.73 Buy KZTKp 7,500.02 9,300 +24.00 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. [2010-10-15]