Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for December 22, 2010

/IRBIS. December 22, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for December 22, 2010. Analysts of JSC "BCC Invest" now expect positive opening trades at KASE on a positive external background. According to forecasts of JSC "BCC Invest", KASE index have finished the day with a moderate rise. JSC "BCC Invest" also notes the following important events in the Kazakh market: - GDP growth in Kazakhstan up to 2010 will exceed 7%, said President Nursultan Nazarbayev. "I think that the country's GDP this year will grow by more than 7%," - said the president at the awards ceremony, "Altyn Sapa" and "Paryz on Tuesday in Astana. He predicted that growth in industrial production in Kazakhstan in 2010 will exceed 10% growth in manufacturing was 19%. "The last very important to us. We should not live, hoping for the mineral resources of our land," - said in this connection, Mr. Nursultan Nazarbayev. Previously reported that according to the latest forecast by the government of Kazakhstan, the republic's GDP growth this year is 5%. According to statistical data, GDP growth in Kazakhstan in January-October 2010 compared to the same period last year amounted to 7.1%. - Restoration of the global economy continued in accordance with expectations, despite significant volatility in financial markets, believes the international rating agency Fitch. As reported in the quarterly report of the agency, it is due, mainly, political support in developed countries and the continuing dynamism of emerging markets ". Fitch slightly improved forecast of world economic growth compared to the October report: in 2010 to 3.4% from the previously expected 3.2% in the next year to 3% from 2.9% in 2012 to 3.3% with 3%. Thanks to the good economic data from the U.S., including strong GDP growth in the third quarter, and measures to support the economy taken by the Government of the country, including "quantitative easing", the agency revised its outlook significantly enhance the country's economy. Fitch has raised the estimate of U.S. GDP growth in 2011, and in 2012 by 0.6% - to respectively 3.2% and 3.3%. The agency also expects a more moderate level of unemployment - 9.1% next year and 8.7% in 2012. Despite the improved forecast, Fitch continues to hold the view that "the recovery will remain calm by historical standards in light of the still weak labor and housing markets," the report said. Stable weak demand continues to put pressure on the growth prospects of the Japanese economy in the medium term. As a result, Fitch is only slightly improved the assessment of increasing the country's GDP in 2010 - up 3.2% to 3%. In this case, the forecast for next year was downgraded to 1.5% from 1.6%. The agency also increased the number of UK GDP growth estimate for 2011 - up 2.3% to 2% in 2012 - up 2.6% to 2.4%. This reflects the continued weak consumer confidence and business. Growth forecast for the Euro zone economy has been slightly downgraded agency: in 2010 - up 1.7% in 2011 - 1.5%. At the same time in 2012 expectations were improved to 2.1%. - The international rating agency Fitch has improved the forecast of growth of the economies of BRIC (Brazil, Russia, India and China), but revised downward the estimate of the Russian economy. As reported in the quarterly report of the agency, the state emerging markets continue to show higher rates of economic growth than expected. As a result, Fitch has revised upward estimates for 2010 for China's GDP growth (up 10% from 9.7%), Brazil (up 7.6% to 7%) and India (up 8.7% from 8.5%). For the PRC were also raised expectations for next year - up 9% to 8.6% for 2012 - up 9% to 8.7%. At the same time, the agency has worsened an assessment of Russia's GDP, as the pace of recovery has weakened, in particular, due to severe drought and heat last summer. Fitch expects that by the end of this year, the country's economy will grow by 3.7% next year - by 4.3% in 2012 - by 3.8%. Average annual inflation is estimated agency in 2011 at 7.7% in 2012 - 7% - From January 5 to 31, 2011 at KASE will be specialized trades to acquire preferred shares KZ1P51460114 (RDGZp) JSC KazMunaiGas (Kazakhstan). As an authorized purchaser to perform the specialized trades JSC" VISOR Capital" (VISOR Capital) (Almaty). The total number of authorized and outstanding preferred shares of Exploration and Production KMG currently stands at 4,136,107 units. The buyer intends to purchase up to 100% of the specified number of securities. Specialized auction will be held in the KASE trading system from 11:30 Almaty time (ALT) January 5 to 16:00 ALT January 31, 2011. Code security in the auction - RDGZpA. With the severance of the purchaser is determined to 16:30 ALT January 31, 2011. Calculations will be held Feb. 3, 2011 (T +3), in accordance with the rules of the Central Securities Depository. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data on the Consumer Price Index for the week and the beginning of the year. - in Germany 13:00 (AST) is expected to publish data on the price index for imports in 15:30 (AST) in the UK are expected to publish data on GDP, total investment, and will publish the proceedings of the Bank of England. - U.S. at 04:00 (AST) was published data on consumer confidence from ABC. At 19:00 (AST) is expected to publish data on GDP, personal consumption, the GDP price index and core consumer price index. At 19:00 (AST) will be published data on sales of existing homes. - Today reports NIKE Inc, Walgreen Co, and others. Analysts of JSC "BCC Invest" give the following advice for investors in securities of issuers in the domestic Kazakh market:: ---------------------------------------------------------------------- Issuer Last price Target Predicted price. code price % Recom- mendation ----------------- ------- ---------- ------ ---------------- --------- Kazkommertsbank KKGB 427 479 +12.18 Neutral KKGBp 210 335 +59.52 Buy Halyk Bank HSBK 370 386 +4.32 Buy Bank CenterCredit CCBN 594.99 646 +8.57 Hold Tsesnabank TSBN 908 1,030 +13.44 Neutral KazMunaiGaz RDGZ 17,500 22,300 +27.43 Buy Kazakhmys PLC GB_KZMS 3,550 3,977 +12.03 Hold ENRC PLC GB_ENRC 2,200 2,298 +4.45 Hold Kazakhtelekom KZTK 18,449 19,200 +4.07 Buy KZTKp 8,500 9,300 +9.41 Buy MREK MREK 1,100 1,130 +2.73 Hold ---------------------------------------------------------------------- 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. [2010-12-22]