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

/IRBIS. November 15, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for November 15, 2010. Analysts of JSC "BCC Invest" now expect a mixed opening of trading on the shares included in the index KASE, amid falling European and U.S. indices on Friday. According to the JSC "BCC Invest", the dynamics of KASE index during the day will be mixed and multidirectional. However, the activity of market participants are likely on the eve of public holiday will be low. Probably, the value of KASE index by the trades would not change significantly. JSC "BCC Invest" also notes the following important events in the Kazakh market: - JSC Exploration and Production KMG JSC (Kazakhstan) announced its financial results for the first nine months of 2010. Operating profit amounted to KZT141.9 billion (963 million U.S. dollars), up 32% compared with KZT107.2 billion (730 million U.S. dollars) received for the same period in 2009, mainly due to rising oil prices. - Net income for the period amounted to 156.8 billion (1064 million U.S. dollars) * and earnings per share - KZT2,155 (U.S. $ 2.44 per GDR), a decrease of 13% compared with KZT180.6 billion (1231 million U.S. dollars) and KZT2,467 (2,8 USD U.S. per GDR), received for the same period of 2009 - the average price of Brent crude oil in the first nine months of 2010 was 34% higher than the same period last year, up from 57.32 dollars a barrel to $76.73 per barrel. - Consolidated oil production in the first nine months of 2010 increased by 15% compared with the corresponding period of last year through the acquisition of the share of 33% in PetroKazakhstan Inc. in 2009 and successful production of other assets, except PF Ozenmunaygaz where there was a decline in production. Analysts of JSC "BCC Invest" indicate that in general, the financial performance of JSC "KazMunaiGas" for the third quarter and 9 months, consistent with their expectations and market expectations. Respectively, according to JSC "BCC Invest", published reports will have little impact on share prices, and depositary receipts of Exploration and Production KazMunaiGas in the short term. JSC "BCC Invest" will review the published reports, news flows and results of the conference call will make adjustments to its pricing model shares, if necessary, amend the recommendations and price targets on shares and depositary receipts, and will release a new review of JSC "KazMunaiGas. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - In Russia the publication of important macroeconomic statistics is expected. Today is expected to publish statements of OJSC Inter RAO UES and Akron for the third quarter of 2010 under RAS. - in Europe 13:45 (AST) is expected to publish data on balance of payments of France in September, at 15:00 (AST) - data on trade balance of Italy in September, and 16:00 (AST) - data for the Euro zone trade balance for September. - in the U.S. before the market opens at 19:30 (AST) is expected to publish data on the volume of retail sales in October and the index of manufacturing activity Empire Manufacturing Federal Reserve Bank of New York in November. After the market opened in 21:00 (AST) is expected to publish data on commercial inventories for September. Today reports Lowe's Companies 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 435 479 +10.11 Neutral KKGBp 215 335 +55.81 Buy Halyk Bank HSBK 368.99 386 +4.61 Buy Bank CenterCredit CCBN 592.07 646 +9.11 Hold Tsesnabank TSBN 870 1,030 +9.57 Neutral KazMunaiGaz RDGZ 16,550 22,300 +34.74 Buy Kazakhmys PLC GB_KZMS 3,500 3,392 -3.09 Neutral ENRC PLC GB_ENRC 2,260 2,858 +26.46 Buy Kazakhtelekom KZTK 17,010 19,200 +12.87 Buy KZTKp 7,601.01 9,300 +22.35 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. [2010-11-15]