Overview of key developments from analysts of Asyl Invest JSC (Kazakhstan) on October 22, 2010
/IRBIS, October 22, 2010/ - ASYL INVEST JSC (Almaty) provided IRBIS
overview of major events and of their investment ideas and forecasts on
October 22, 2010.
Analysts of ASYL INVEST note that trading on the Kazakhstan stock
market on Thursday took place at a low activity of market
participants and ended with the fall of KASE index on 1.09%. Most of
the stock index on the basis of trades increased. Growth was observed in
the shares of NSCB (3.1%), BCC (1.7%), Kazakhmys (1.6%),
Kazakhtelecom (1.5%). In general, the trading volume of KASE index fell
by 2.5 times compared to the previous day and reached 35.4 million
tenge. On the London Stock Exchange trading Kazakhstan shares and
depositary receipts were at their multidirectional dynamics. Growth ended
trading in shares of Kazakhmys (1.06%) in the GDR NSCB (2.26%), KMG
(0.29%). ENRC shares on trading results were down 0.6%.
Today, the external background for the Kazakh market develops vague.
KASE index has an equal chance of rising or falling, noted analysts
of ASYL Invest.
In addition, the analysts of ASYL INVEST note the following events
in world markets:
- major U.S. stock indices spent most of yesterday's session in positive
territory. Strengthening U.S. dollar had a negative effect on the index,
preventing continued to gain new heights. Shares of companies
Caterpillar (CAT), despite the publication of financial results
significantly better than expected, as a result of trades fell. Financial
Results eBay (EBAY) were slightly better than expectations, but
shares rose in trading results due to company forecasts. At the level
of expectations, the company reported AT & T (T), which resulted in
falling stock prices. Well received was the report of McDonald's
(MCD), which brought the company's shares on the one-year highs.
Economic statistics had a limited impact on trading. The number of
initial claims for unemployment benefits for the week ended October
16 fell by 23 thousand to 452 thousand Economists had expected a
lower rate up to 455 thousand a significant improvement in the labor
market has not occurred, the rate is above 425 thousand worth noting
that the figure quite unstable over time and, in our view, it is very
likely that next week it will show growth. October index of business
activity rose from the Philadelphia Federal Reserve Bank of -0.7 to 1,
and economists expect growth to 2. The index of leading indicators
rose 0.3% in September, mainly due to reduction in the number of
initial claims for unemployment benefits. Reaction of the market
indicators are not caused because of their impact on the market is
- in the U.S. today the focus will be reports from companies
Schlumberger (SLB), Verizon Communications (VZ), Honeywell Intl
(HON), and others. After the close of trading in U.S. companies
reported better than expected Amazon.com (AMZN) and SanDisk
(SNDK), but their reports are not likely to be able to support the
market. From today's session of the U.S. intelligence ASYL INVEST
expect heightened volatility.
- trade results on Thursday main European stock indexes rose due to
strong statements of companies Fiat (F) and Nokia (NOK1V). Report
Credit Suisse not met the expectations of market participants and had
a negative impact on shares of the financial sector. It is impossible
not to note the increase of shares in Russian banks. Paper VTB
(VTBR) grew by more than 5%, the strongest increase since May
2008. Growth occurred after the recent announcement by First
Deputy Prime Minister Mr. Igor Shuvalov, that the sale of state shares
of the bank is not eroding the share of its minority shareholders.
Negative impact on trading on the London Stock Exchange had a
message to lower retail sales in the country at 0.2% in September.
From today's trading in Europe, analysts of ASYL INVEST expected
to reduce the major stock indexes.
- trading in Asia today are under multidirectional dynamics of the major
stock indexes. Indexes in Japan are growing, while China's indexes
are falling. Support indices provide corporate reports better than
This material is for informational purposes and is not an offer or recommendation
to perform any transaction in securities. Agency IRBIS is not responsible for the
opinions expressed in this material.