Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 20, 2010

/IRBIS, December 20, 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 20, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - In the Asian session, the major indexes falling in the region substantial pace after an agreement between the leading countries in the region to establish a mechanism of crisis management failed to address concerns that a number of Euro zone countries can not repay their debts. Heightened fears of reduction of Moody's sovereign credit rating on Ireland's five stages. In China, together with the problems of the Euro zone, pressure has the news that the government could reduce drug prices by an average of 40% from 658 items. Shares of leading pharmaceutical companies in the country today are falling in price. Shanghai Composite now falls to 2.8%, Hang Seng - by 1.2%. - The euro/dollar is now falling by 0.3% and is trading at 1.315. Investors are still under the impression of strong economic statistics, the U.S. and "a five" lowering of the sovereign rating of Ireland. - Quotes commodities today are moving in the negative direction against a background of strengthening U.S. dollar. Since Brent oil cheaper by 0.1%, and copper in Shanghai - by 0.2%. - European stock market today is likely to go down under the pressure of the problems the Euro zone and the negative sentiment in Asia. Some adjustments to the movement of the market can make these region consumer confidence index, which is expected to improve the dynamics in December. Market in the U.S. session will receive only U.S. statistics on an index of business activity in the district of Chicago. Reaction to it is likely to be understated, because waiting for her already included in current market quotations indices due to the good statistics on the same indicators, published last week. - For the domestic market of the external news background today is negative, analysts of BTA Securities expect a discreet increase of stock price of Kazakhmys and ENRC after a significant increase in their shares in London last week. Certain ideas of today will probably take place in the market. It is likely that local players will be converted into growth stocks KazakhTelecom. 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 5.6 9.8 Buy +77 KAZKOMMERTSBANK KASE 430.0 728.3 Buy +69 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 10.0 10.5 Hold +5 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 584.0 1,531.0 Buy +162 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.4 22.7 Buy +17 KAZKMUNAIGAZ KASE 17,510.0 20,062.0 Buy +15 BMB MUNAI AMEX 0.85 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,583.0 1,427.0 Hold -10 ENRC LSE 992.5 1,216.0 Buy +23 KAZAKHGOLD-GDR LSE 4.0 7.0 Buy +76 URANIUM ONE LSE 4.4 3.3 Sell -24 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,400.0 33,825.0 Buy +84 STEPPE CEMENT LSE 47.0 120.9 Buy +157 -------------------------------------------------------------------------- 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. [2010-12-20]