Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 21, 2010

/IRBIS, December 21, 2010/ - JSC BTA Bank's Subsidiary organization BTA Securities (BTA Securities, Almaty) has provided IRBIS with a survey of main events, Forecasts and Investment ideas for December 21, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - Rising prices of raw materials against the background of the authoritative representative of the U.S. Federal Reserve, Mr. James Bullard, that the growth of U.S. GDP in 2011 can beat the forecasts of economists, the recovery of the market shares of the Asian region. Shanghai Composite is growing at 0.9%, Hang Seng - by 1.1%. Supports the optimism and calm reaction of the authorities of North Korea's military exercises near its southern neighbor of the disputed territories. - The euro/dollar is now trading at 1.317, near the previous day's close. At current levels, the dollar little support, because demand for risky assets rose against the backdrop of upbeat statements by the Fed on the economy. - Quotations of commodities are now headed to the north. Copper prices in Shanghai are growing by 0.2%, in New York - by 1.2%. Brent crude oil becomes more expensive weak rate of 0.1%. - European stock market today is likely to continue a moderate increase in optimism about the prospects for the U.S. economy. Bidding will be held today at zero macro news background, both in Europe and the U.S., which puts players in a difficult position in terms of choosing the direction of future market movements. Perhaps the expectations of more strong data on U.S. GDP for the 3 quarter, which will be published on Wednesday, will help markets to consolidate at the levels prior to the bankruptcy of Lehman Brothers. - For the domestic market of the external news background is moderately positive, analysts of JSC BTA Securities expect a discreet increase of stock price of Kazakhmys and ENRC against the background of their quotations in London today. 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 10.2 10.5 Hold +3 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 590.0 1,531.0 Buy +159 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.9 22.7 Buy +14 KAZKMUNAIGAZ KASE 17,500.0 20,062.0 Buy +15 BMB MUNAI AMEX 0.87 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,578.0 1,427.0 Hold -10 ENRC LSE 999.5 1,216.0 Buy +22 KAZAKHGOLD-GDR LSE 3.5 7.0 Buy +104 URANIUM ONE LSE 4.6 3.3 Sell -29 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,450.0 33,825.0 Buy +83 STEPPE CEMENT LSE 46.5 120.9 Buy +160 -------------------------------------------------------------------------- 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. [2010-12-21]