Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 12, 2010

/IRBIS, November 12, 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 12, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - today morning trading on the major indexes of Asian region with significant rates of pressure fall after reaching highs in prices for industrial metals, as well as speculation about monetary tightening in China after the acceleration of inflation in October. Hang Seng index at the moment falls to 1.1%, Shanghai Composite - on 2.3%, Nikkei - by 1.2%. - The euro/dollar is now falling on fears that the troubled countries of the Euro zone will have to restructure their debts. At the moment the course is already being traded at around 1.36, which is the level of the last value of the 50-day moving average line. - Quotes commodities today seriously adjusted. On the eve of copper prices have almost reached the maximum of historical markers. With the falling dollar and expectations of monetary tightening in China, copper today in Shanghai rolls down by more than 4.5%. Futures for Brent crude oil continued to decline yesterday, losing in the price of 1.2%. The gold price decreased by 1.4% under pressure from the dollar. - European stock market today is likely to open a significant decrease in the major indexes in the region under pressure from stock prices of commodity companies and banks amid falling commodity prices and debt problems. Adjustments to the market movement can make data on the Euro zone GDP for the 3 quarter and industrial production for September. Economists expect GDP growth of 0.5% and industrial production - by 0.2%. Positive data could support the euro and the markets, but reducing demand for risky assets will continue to put pressure on the Europeans. - The U.S. market will probably now come under the influence of sentiment in Europe and Asia, even positive on Michigan index of consumer confidence is unlikely to change investors' intention to capture profits. - For the domestic market of the external news background is negative. Raw Stocks today will be an outsider in a fairly clear signal to buy from external markets. In the fall of favoritism can be Kazakhmys against the backdrop of a serious decline in copper prices in Shanghai. 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 +56 KAZKOMMERTSBANK KASE 450.0 728.3 Buy +62 KAZKOMMERTSBANK -PREF KASE 215.0 388.5 Buy +81 HALYK BANK-GDR LSE 10.0 10.5 Hold +5 HALYK BANK KASE 370.0 377.5 Hold +2 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 19.0 n/a Review n/a KAZKMUNAIGAZ KASE 16,800.0 n/a Review n/a BMB MUNAI AMEX 0.72 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,551.0 1,427.0 Hold -8 ENRC LSE 990.0 1,216.0 Buy +23 KAZAKHGOLD-GDR LSE 3.0 7.0 Buy +135 URANIUM ONE LSE 5.1 3.3 Sell -34 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 17,300.0 33,825.0 Buy +96 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. [2010-11-12]