Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 10, 2010

/IRBIS, November 10, 2010/ -BTA Bank JSC subsidiary BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for November 10, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - In early trading the major indexes falling rates of the Asian region to within 1%. Exert pressure on the market speculation that rising consumer prices in China and foreign investment will lead to further tighten monetary policy by the Central Bank of the country. Grows only the Japanese market on strengthening of the dollar against the yen. Hang Seng index at this time is reduced by 0.9%, Shanghai Composite - 1%. Nikkei adds 1%. - The euro/dollar is now falling by more than 1% and is trading at around 1.375. Analysts of BTA Securities believe that strengthening the "green" is short-lived, and largely confined to the auctions of Greece and Portugal on the placement of government securities. Today Greece has posted bonds of $ 300 million, is now part of Portugal, which currently conducts auction of government securities amounting to $ 1.25 billion in the case of a successful placement, now can turn quotes the course, which also reached critical levels. Fundamental factors argue in favor of lowering the U.S. currency in the medium term. U.S. in the next six months will increase the money supply, while the ECB will refrain from making any monetary action. At the moment, the euro looks oversold. - Strengthening of the dollar puts pressure on the quotations of commodities. Futures for Brent crude oil decreased by only 0.1%, trading at levels higher than $ 87.5 per barrel due to optimistic forecasts API to reduce stockpiles of crude oil in the U.S., gold adds to 0.25%, stabilizing at around $ 1,396 an ounce. On the copper market euphoria subsided. After strong growth in the eve and in China and in Europe and America, the price of the "red metal" today shows multidirectional dynamics. In Shanghai, it rises in price by a quarter percent, in New York cheaper by more than 1%. It is noted that at yesterday's auction in London spot prices for copper exceeded the cost of a three-month futures contract for the second consecutive day, the difference increased from $ 5 to $ 6, reflecting increased investor demand for the metal. - European stock market today, probably will moderate decrease in the major indices under the influence of sentiment in Asia and the USA. Adjustments to the market movement can make news on the results of the Portuguese government securities auction. In the U.S. session the market dynamics will be determined by U.S. statistics on the number of initial claims for unemployment benefits. Economists are not so optimistic with regard to numbers, waiting for the reduction of only 7 thousand, compared to the previous week, to 450 thousand applications. - For the domestic market of the external news background is moderately negative. Stocks of raw may be underdogs of the trading day, but strong signals to the sale until the foreign markets do not. The demand of investors today is likely to be formed on the shares and NSBK KazakhTelecom, which showed a significant increase the day before. Shares of the first in recent days on growing expectations of strong financial results for the 3 quarter of this year. Bank this year to give cause for disappointment. Publication of report of the bank is scheduled for late November. Kazakhtelecom, according to BTA Securities, is currently the most undervalued among Kazakh issuers, who seems gradually attracted the interest of investors in securities. 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 6.3 9.8 Buy +58 KAZKOMMERTSBANK KASE 445.0 728.3 Buy +64 KAZKOMMERTSBANK -PREF KASE 215.0 388.5 Buy +81 HALYK BANK-GDR LSE 10.0 10.5 Hold +5 HALYK BANK KASE 368.0 377.5 Hold +3 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 590.0 1,531.0 Buy +159 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 18.3 n/a Review n/a KAZKMUNAIGAZ KASE 16,000.0 n/a Review n/a BMB MUNAI AMEX 0.76 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,553.0 1,427.0 Hold -8 ENRC LSE 1,009.0 1,216.0 Buy +21 KAZAKHGOLD-GDR LSE 3.4 7.0 Buy +105 URANIUM ONE LSE 5.2 3.3 Sell -36 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 16,800.0 33,825.0 Buy +101 STEPPE CEMENT LSE 41.5 120.9 Buy +191 -------------------------------------------------------------------------- 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. [2010-11-10]