Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 10, 2010

/IRBIS, December 10, 2010/ -BTA Bank JSC subsidiary BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for December 10, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - In the Asian session, the major indices are traded in the region differently. The Chinese market is now declining on expectations of accelerating inflation in November, and coming, therefore, to tighten monetary policy by the Central Bank of the country. Positive data on China's exports and imports showed their rise in November by 35% and 38% respectively, somewhat support the markets. Pressure on the market have news from Europe, where the debt crisis once again made itself felt lower sovereign credit rating on Ireland's three stages of agency Fitch Ratings. Shanghai Composite is growing at 0.1%, Hang Seng falls to 0.6%. - The euro strengthened today against the dollar by 0.2% despite the decrease in Ireland's country rating. This factor is most likely played the previous day, today, European restored. In general, since the beginning of the week is observed volatile price dynamics, indicating that the uncertainty among the players is what kind of currency is still stronger in the current situation. Latest news on the markets, according to BTA Securities, play in favor of the euro in the medium term. The growth of China's economy, supported by data on economic activity and trade balance, the extension of tax incentives in the U.S., a new program of quantitative easing, which could also be extended, forms investor demand for risky assets, which is unfavorable for the dollar. - Quotes commodities today showing a mixed trend. Copper prices in Shanghai do not want to grow even at very positive November data on imports of copper, which is the first time in the last 3 months rose. Import volumes of the "red metal" increased by 29% significant. Deter investors from buying speculation that rising inflation in China would lead to an increase in interest rates and slower economic growth in the country. Futures for Brent crude traded on the previous day's close with the support of U.S. data on unemployment. - European stock market today is likely to open the neutral dynamics of the major indexes. During trading in Europe, significant macro news will not. The U.S. market is waiting for the macro-publications of Michigan index of consumer confidence, as well as the trade balance. News in Ireland is likely to have limited impact on markets. Chinese statistics are positive for stocks; however, the topic of monetary tightening is still strong. - For the domestic market of the external news background neutral. 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 5.7 9.8 Buy +72 KAZKOMMERTSBANK KASE 435.0 728.3 Buy +67 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 9.8 10.5 Hold +7 HALYK BANK KASE 361.0 377.5 Hold +5 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 588.0 1,531.0 Buy +160 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.1 22.7 Buy +12 KAZKMUNAIGAZ KASE 17,850.0 20,062.0 Buy +12 BMB MUNAI AMEX 0.85 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,512.0 1,427.0 Hold -6 ENRC LSE 938.0 1,216.0 Buy +30 KAZAKHGOLD-GDR LSE 4.0 7.0 Buy +76 URANIUM ONE LSE 4.8 3.3 Sell -32 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 17,955.0 33,825.0 Buy +88 STEPPE CEMENT LSE 46.0 120.9 Buy +163 -------------------------------------------------------------------------- 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. [2010-12-10]