Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for October 18, 2010
18.10.10 12:36
/IRBIS. October 18, 2010/ - BCC Invest JSC has provided IRBIS with a
survey of main events, market reviews and investment ideas for October
18, 2010.
Analysts of JSC "BCC Invest" now expect a neutral opening of
trading on the local market share. Further, during the day, is
projected JSC "BCC Invest", the dynamics of bidding for shares in the
index KASE, will be mixed and contradictory multidirectional external
background.
JSC "BCC Invest" also notes the following important events in the
Kazakh market:
- Ministry of Finance of Kazakhstan placed on the KASE 15
октября 20178333 MEUKAM-72 for the sixth issue of 5.40% per
annum. October 15, 2010 in the trade system of KASE specialized
trades on placement of government treasury bonds of the Ministry of
Finance of the Republic of Kazakhstan MEUKAM-72 issue 6 with
maturity of 6 years (2,160 days) and Coupon Payments 1 per year.
Amount of bids accepted amounted to 20,178,333 of bonds (144.1%
of plan) worth 20.18 billion, the coupon rate - 5.4% per annum. The
volume of active orders, the proportion of pension market had 8.1%,
the share of Kazakhstan's second-tier banks (STB) - 61.5%, clients
of STB - 12.6%, broker-dealers - 2.9%, their customers - 14.9%.
According to data of Central Securities Depository, all transactions
on placement MEUKAM-72 sixth release by the end of calculations
based on trades executed. 59.3% of the total outstanding bonds
were redeemed by the BWI, 20.8% - STB clients, 4.1% - broker-
dealer companies, 15.8% - by customers of broker-dealers.
- October 19, 2010 in the trade system of KASE place specialized
auction on placement of long-term treasury bills of the Ministry of
Finance of the Republic of Kazakhstan MEUKAM-108 Release 5
with the maturity of 9 years (3,240 days) and Coupon Payments 1
per year. Declared a placement volume - 14 bln. Subject of
bargaining is the value of coupon rate per cent per annum of the
bond nominal value, expressed to the second decimal place.
- Negotiation of Sberbank of Russia with Kazakhstan's state fund,
"SK" on the purchase of BTA Bank continues. "I confirm our
interest in this transaction. (...) We are now very efficient, open
dialogue", - chairman of the board of the Savings Bank of Russia
Herman Gref reporters on Saturday in Astana, during a break in the
conference "Strategy 2030: the road to sustainable development,
Organized by the "SK"."Until the end of the year, I think we can work
out a scheme and to work together in our potential arrival there. But
the purchase itself is unlikely (before the end of 2010. - IF-K"), "- he
said. Gref also said that Sberbank are interested in buying only a
fraction of control. "
Analysts of JSC "BCC Invest" and expect the following
developments in international markets today:
- In Russia of "Magnet" is planning to publish unaudited financial
results under IFRS for the first 9 months of 2010.
- The UK 05:01 (AST) published index of housing prices on
Rightmove's October, and 15:00 (AST) will be published the data on
balance of payments in Italy in August.
- in the United States after the opening of trading in 19:00 (AST) will
be published data on the purchases of U.S. government securities in
August, 19:00 (AST) - data on the volume of industrial production
and capacity utilization in September, and 20:00 (AST ) - the index of
the NAHB housing market in October. Today before the opening of
trading in 18:00 (AST) will publish its reporting bank Citigroup Inc.
Also during the day will publish its reporting Steel Dynamics Inc.,
Halliburton Co., International Business Machines (IBM) and Apple
Inc.
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 585 646 +10.43 Hold
Tsesnabank TSBN 940 1,030 +9.57 Neutral
KazMunaiGaz RDGZ 16,150 22,300 +38.08 Buy
Kazakhmys PLC GB_KZMS 3,300.01 3,392 +2.79 Neutral
ENRC PLC GB_ENRC 2,250 2,858 +27.02 Buy
Kazakhtelekom KZTK 15,900 19,200 +20.75 Buy
KZTKp 8,000 9,300 +16.25 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.
[2010-10-18]