Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 15, 2010

/IRBIS, December 15, 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 15, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - In the Asian session, the major indexes were developed in the region and move in a downward direction against a background of strengthening U.S. dollar and falling prices for industrial metals. Despite the fact that China has left rates unchanged, investors expect a policy change in the near future. Shanghai Composite now reduced to 0.1%, Hang Seng falls to 0.71%. - The euro/dollar is now falling to 0.15% and traded at 1.3350. Yesterday's European growth was stopped by positive data from the U.S., which turned out better than expected. Growth of retail sales has provoked an increase in Treasury yields, which provides support to the dollar. Statement by Fed Chairman Mr. Bernanke that the program QE2 will still expand coincided with the expectations of investors. - Quotations of commodities are now headed in a downward direction against the backdrop of strengthening U.S. dollar. Since Brent oil falls to 0.18% and the price of copper in Shanghai decreased by 0.4%. - Х European stock market today after the opening of trading will continue its upward movement on the background of positive macro data published yesterday in the U.S. In Europe, the statistics are expected to change employment in the region. In the U.S., will be published data on the consumer price index, which is expected to reach 1.1%, while industrial production growth should reach 3.3%. - For the domestic market today, the external news background is neutral. Expected weak activity in anticipation of holidays. 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 439.4 728.3 Buy +66 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 10.1 10.5 Hold +4 HALYK BANK KASE 365.0 377.5 Hold +3 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 19.9 22.7 Buy +14 KAZKMUNAIGAZ KASE 17,720.0 20,062.0 Buy +13 BMB MUNAI AMEX 0.85 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,581.0 1,427.0 Hold -10 ENRC LSE 988.0 1,216.0 Buy +23 KAZAKHGOLD-GDR LSE 4.0 7.0 Buy +77 URANIUM ONE LSE 4.7 3.3 Sell -30 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,300.0 33,825.0 Buy +85 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. [2010-12-15]