Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for November 23, 2010

/IRBIS. November 23, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for November 23, 2010. Analysts of JSC "BCC Invest" now expect a negative opening of trading on the shares included in the index KASE, on the negative external background. According to the JSC "BCC Invest", the dynamics of KASE index later in the day would be volatile, and KASE index end the day in negative territory. JSC "BCC Invest" also notes the following important events in the Kazakh market: - The Republican Budget of Kazakhstan in January-October, with a deficit 17.5% of spending. The national budget deficit for November 1, 2010 amounted to KZT 598 billion 472.8 million, told Interfax-Kazakhstan in the Ministry of Finance. Income from the national budget in January-October amounted to KZT 2 trln 817 billion 841.6 million, the cost - KZT3 trillion 416 billion 314.4 million. Thus, the state budget in January-October, with a deficit 17.5% of spending. In the revenue side, the actual revenue of KZT2 trillion. 800 billion 955.7 million, the income from repayment of budget loans - KZT 16 billion 793.1 million from the sale of state assets - KZT 92.8 million. In the expenditure side, the costs amounted to KZT3 trillion 100 billion 145 million, low cost loans - KZT 106 billion 734.2 million, the cost of acquisition of financial assets - KZT 209 billion 435.2 million. It was reported that the budget deficit for 2010 was approved in the amount of KZT 803.6 billion (4.1% of GDP). Income from the national budget this year, approved at KZT3 trillion 378.4 billion costs - KZT 4 trillion 182 billion. In September this year, revenues and expenditures of the republican budget of Kazakhstan for 2010 were increased by KZT 139.4 billion. Refined parameters of the national budget as follows: revenue - KZT3 trillion 517.8 billion, expenditures - KZT4 trillion 321.4 bln deficit - 803.6 bln. 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 the Board of Directors of OJSC "Gazprom" will consider investment program on 2011. - in Germany 13:00 (AST) in Germany will be published index prices of imports for October and the final data for GDP of Germany for the third quarter, and 14:30 (AST) - data on the PMI index in the manufacturing sector and the service sector in November. At 14:00 (AST) in France will be published data on the PMI index in the manufacturing and service sectors in November. At 14:30 (AST) will be published index value of the euro area consumer confidence for October, and 15:00 (AST) - data on the PMI index in the manufacturing and service sectors euro area in November. - U.S. at 19:30 (AST) will be published the revised GDP data for the third quarter. At 21:00 (AST) will be published data on sales of existing homes in October, as well as the index of manufacturing activity Federal Reserve Bank of Richmond in October. At 01:00 (AST) will be published by the U.S. Federal Reserve meeting minutes from November 3. - Today reports GeoPharma Inc., Guess and others. 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 450 479 +6.44 Neutral KKGBp 215 335 +55.81 Buy Halyk Bank HSBK 367 386 +5.18 Buy Bank CenterCredit CCBN 590 646 +9.49 Hold Tsesnabank TSBN 870 1,030 +9.57 Neutral KazMunaiGaz RDGZ 17,875 22,300 +24.76 Buy Kazakhmys PLC GB_KZMS 3,400 3,392 -0.24 Neutral ENRC PLC GB_ENRC 2,150 2,858 +32.93 Buy Kazakhtelekom KZTK 17,200 19,200 +11.63 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. [2010-11-23]