Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on November 23, 2010

/IRBIS, November 23, 2010/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on November 23, 2010. JSC Financial Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - bidding for major venues in Europe and the United States on Monday ended mostly with falling indices. Debt problems of the peripheral countries of the Euro zone, it was a little faded after the official request of the representatives of the Irish government for financial assistance to neighboring countries in the Euro zone, recaptured market participants who believe that the salvation of Ireland will not solve all problems in the region, as well as they did not resolve after help Greece in the spring. The number of so-called PIGS - fines for exceeding the maximum permissible level of budget deficit, as well as Greece and Ireland also includes Portugal and Spain, while if the amount of assistance needed to save the situation in Portugal is approximately equal to the specialists packages for Greece and Ireland, Spain, seems to require an order of magnitude greater leverage. Following the auction, the major European indexes fell in the range from 0.9% - to 1.1%, U.S. indices, traded in mid-session decline slightly less than 1% by the end of the day the situation straightened, recording only a modest decrease in quotations. Today in the United States will be published interim data on GDP growth in the third quarter, as well as data from the secondary housing market. News from the Euro zone, we note the publication of final data on German GDP in the same third quarter. - Site emerging markets finished the day lower. Quartet of BRIC - defining the economies of the developing countries on Monday noted the substantial drop in prices the major indexes, amid negative external background from the West. An additional factor contributing to the decline, made the correction in commodity areas, in particular, oil prices after a few days, the weak correction again almost back to the recent local minima. Today in Brazil, will be published current account balance, it is expected that in October it was negative in the amount of $ 3.7 billion for Premarket sites emerging markets "REAL Invest.kz" regards as moderately negative, Asian area started with the sales. - Oil prices on Monday fell slightly less than 2%, against the formation of generally negative external background, in connection with the debt problems of some European countries. Correction of quotations, which was held in the second half of last week, apparently complete, but it is likely that the level of support for "black gold" at the moment is focused not on the mark at $ 80 per barrel, as expected, most experts, and points above - to level of $ 81 per barrel. In the short term, with approximately equal probability that oil prices may continue as a downward trend (in the case of breakout level of $ 81), and to begin the consolidation (if not breaking through the level). - quotes troy ounce of gold once again delight us with its predictability - to date forecast of "REAL Invest.kz" one and a half week fully implement the prescription - the price of "noble metal" show consolidation, with a very moderate growth of quotations. According to the forecast of "REAL Invest.kz", similar dynamics in gold prices may last for at least several weeks, with analysts of "REAL Invest.kz" do not exclude the volatile jumps from time to time will interrupt the price corridor. - being realized forecast of "REAL Invest.kz" regarding a quick downward continuation of the dynamics of regional European currency, while it is expected that the positive effect of helping Ireland to be short-lived, and soon completely leveled amid fears for the aggravation of these problems in Spain and Portugal. In the short term, an important marker is the level at 1.35, after which the penetration level of approximately at around 1.33 mark a break through the lower boundary of the medium-term uptrend. - much better than the current situation in the British pound, which on Monday fell by 0.4%, and closed only slightly above the mark to 1.59. On the daily chart are still positive semi uptrend, but the current level of quotations is located on the bottom of the range. Analysts of "REAL Invest.kz" noted that the most attractive stories among the shares of Kazakh companies are RD Kazmunaigas, Kazakhtelecom and Halyk Bank. Especially attractive look and EP Kazakhtelecom, as both companies are very strong balance sheet with low debt burden, the EP's net debt at all negative, i.e. cash flows of the company exceed liabilities. Besides their business generates more free cash flow, which allows them to pay a very solid dividends. Dividend income on preferred shares of KMG and Kazakhtelecom is 6-8% and 3- 4% of ordinary shares. Shares of these companies are traded much cheaper than the shares of similar companies in other emerging markets. 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. [2010-11-23]