Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for December 3, 2010

/IRBIS. December 3, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for December 3, 2010. Analysts of JSC "BCC Invest" now expect a neutral open bidding for shares in the index KASE, the ambiguity of the external background. Further, during the day, the dynamics of trading on KASE, projected JSC "BCC Invest", to be mixed and multidirectional, and KASE index end the day little change. JSC "BCC Invest" also notes the following important events in the Kazakh market: - In Kazakhstan, the prices of manufacturers of industrial products in November 2010 increased by 3.5%. In November of this year compared with the previous month, prices in the mining industry increased by 3.7%, manufacturing industry - by 3.8%, in the manufacture and distribution of electricity, gas and water - decreased by 0.3%. In the past month increase in prices observed for propane and butane are liquefied by 22.7%, oil - 4%, metal ores - 2%, coal - by 1.2%, gas condensate - by 0.3%, natural gas and petrol - on 0.1%, to decrease fuel oil - by 0.7%, electricity - by 0.5%, diesel fuel - by 0.1%. Prices for zinc for the month were higher by 21.9%, copper - on 7.6%, precious metals - 7.5%, raw aluminum - 7%, ferroalloys - by 6.8%, for ferrous metals - below 0.2%. Cereals went up by 23.8%, margarine - 6%, sugar - by 5.2%, oil - 5%, meat of cattle - 3%, tea - by 2.7%, pasta - 1.7%, poultry and dairy products - by 1.6%, fish - 1%, bread - 0.2%. - Canada's First Quantum Minerals (FQM) filed a lawsuit against ENRC of US$2 billion. According to Friday's Sunday Times, a Canadian mining company First Quantum Minerals Ltd. made the next step in the ongoing since mid-September of litigation with the Group ENRC. The object of the dispute was a copper project in the Democratic Republic of Congo, after the government stripped FQM license. FQM contends that the purchase of the project was implemented by collusion between ENRC and Government of the DRC and intends to receive compensation in the amount of U.S. $ 2 billion. Earlier FQM spent USD 700 million over 6 years to develop this project. According to the publication, one of the refined sources said that this is another pointless attempt to enter the FQM investors misleading, arguing that false things and showing inappropriate behavior. Analysts of JSC "BCC Invest" believe that this news may have a negative impact on share prices ENRC, nonetheless, remain a recommendation to "hold" with a target price of 2,298 KZT (998 GBp). Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - In Russia the publication of important economic statistics is expected. - in the UK will be published data on registration of new vehicles. At 15:30 (AST) is expected to publish data on an index of investor confidence from Sentix Euro zone in December - In the U.S. publication of important economic statistics are expected. - Today report of JSC Sberbank of Russia, JSC Wimm-Bill-Dann Foods, Dollar Generation Corp. 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 445 479 +7.64 Neutral KKGBp 210 335 +59.52 Buy Halyk Bank HSBK 365 386 +5.75 Buy Bank CenterCredit CCBN 590 646 +9.49 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 17,300 22,300 +28.90 Buy Kazakhmys PLC GB_KZMS 3,400 3,392 -0.24 Neutral ENRC PLC GB_ENRC 2,229.99 2,298 +3.05 Buy Kazakhtelekom KZTK 17,250 19,200 +11.30 Buy KZTKp 8,001 9,300 +16.21 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. [2010-12-06]