Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 23, 2010

/IRBIS, November 23, 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 23, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - The Asian trade in the region major indexes falling under pressure from speculation that the rescue of the banking sector, Ireland will probably not stop the debt crisis in the Euro zone. According to the market, Ireland's problems could spread to other countries such as Portugal and Spain. Yesterday, Moody's reported that the rating of Ireland can be reduced more strongly than expected earlier, due to the increased fiscal burden as a result of receiving financial assistance from the EU. Shanghai Composite now falls to 2.5%, Hang Seng - on 1.8%, Nikkei adds 0.9%. - Euro now falls more than 1% against the dollar on fears about a debt crisis in the Euro zone. The euro/dollar traded higher at around 1.355. - Quotations of commodities falling behind the strengthening dollar and speculation about monetary tightening in China, which still influence the Chinese market. Copper prices in Shanghai fell by 2.5%, crude oil futures for Brent - on 0.3%. - European stock market today, probably will moderate decrease in the major indexes in the region under the pressure of shares of commodity companies. Influence the course of trading in Europe today would Stats region in the indices of business activity in industry and services in November. In the U.S. session the attention of investors will switch to its revised quarterly data on U.S. gross domestic product, as well as figures on the dynamics of house sales in the secondary market. - For the domestic market of the external news background is moderately negative. Possibly lowering the value of shares of commodity companies. Shares of banks may show a positive trend on good financial results. The idea of undervalued shares in KMG may also still in force. 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 6.1 9.8 Buy +62 KAZKOMMERTSBANK KASE 450.0 728.3 Buy +62 KAZKOMMERTSBANK -PREF KASE 215.0 388.5 Buy +81 HALYK BANK-GDR LSE 10.1 10.5 Hold +4 HALYK BANK KASE 367.0 377.5 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 19.9 22.7 Buy +14 KAZKMUNAIGAZ KASE 17,875.0 20,062.0 Buy +12 BMB MUNAI AMEX 0.94 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,440.0 1,427.0 Hold -1 ENRC LSE 898.0 1,216.0 Buy +35 KAZAKHGOLD-GDR LSE 3.2 7.0 Buy +120 URANIUM ONE LSE 4.8 3.3 Sell -30 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 17,200.0 33,825.0 Buy +97 STEPPE CEMENT LSE 44.5 120.9 Buy +172 -------------------------------------------------------------------------- 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. [2010-11-23]