Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 13, 2010

/IRBIS, December 13, 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 13, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - In the Asian session the major indexes of the region are traded in positive territory after the central bank of China, contrary to expectations, had refrained from raising rates, restricting ourselves to just be another increase in minimum reserve requirements for banks in the country. In addition, the players are pleased the economic statistics supported the view of the market that China's economy can withstand monetary tightening. Industrial production in China in November rose by 13.3%, exceeding economists' forecasts for 0.3 percentage points. Retail sales yoy grew by 18.7%, which is at the level of expectations. Alerted only an acceleration of inflation, consumer price index in the country increased by 5.1%, exceeding the forecast of the market (4.7%), but the inaction of regulators neutralize this negative aspect. Shanghai Composite is growing by more than 1%, Hang Seng adds 0.5%. - Euro today continues to decline against the dollar at a moderate pace the second consecutive day, even on clear evidence of increasing demand for risky assets. Americans support the idea of the market that this week, issuing statistics on the U.S. will play in his favor, and the debt problems of the euro area remain in force. - Quotes commodities today show a positive trend. Copper prices in Shanghai increased by more than 1,5% on the positive statistics for China and the prudent actions of controllers of this country in terms of tightening monetary policy. Futures for Brent crude rising by 0.4% on the same grounds as the metals. - European stock market today is likely to open upward dynamics of the major indices on the growth of share prices of commodity companies. Subject prospects of monetary policy in China and its economy today is critical to the movement of the market, because statistical data on the U.S. and Europe today will not be. - For the domestic market of the external news background is positive, may increase demand from investors for raw shares. It is also likely that the market will regain some ideas, in particular, the fundamental attractiveness of Halyk, Kazakhtelecom and taxiway Kazmunaigaz stocks. Shares of these issuers have shown a strong momentum in the last week. 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 430.0 728.3 Buy +69 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 9.9 10.5 Hold +6 HALYK BANK KASE 370.0 377.5 Hold +2 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 585.0 1,531.0 Buy +162 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.7 22.7 Buy +15 KAZKMUNAIGAZ KASE 17,850.0 20,062.0 Buy +12 BMB MUNAI AMEX 0.82 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,529.0 1,427.0 Hold -7 ENRC LSE 965.0 1,216.0 Buy +26 KAZAKHGOLD-GDR LSE 4.0 7.0 Buy +76 URANIUM ONE LSE 4.9 3.3 Sell -32 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,000.0 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. [2010-12-13]