Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on December 23, 2010

/IRBIS, December 23, 2010/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on December 23, 2010. JSC Financial Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - major stock markets U.S. and Europe have completed the past day, opposite changes of the indices. At the auctions in Europe on Wednesday, uncertainty prevailed due to the release of conflicting factors in nature. Thus, a positive influence on the bidding had anecdotal evidence that China is willing to buy government bonds in Portugal in the amount of 4.5 billion euros in support of Lisbon in its efforts to combat the debt crisis. As negative factors acted as a warning by Fitch Ratings lowered ratings on the possible Greek bonds, amid the smaller, compared with expectations, reducing the fiscal deficit of the country. Also negatively influenced the course of trade publication of data on changes in UK GDP in the third quarter, according to which the growth rate in the UK amounted to only 0.7%, while analysts expected growth of 0.8%. Following the session, the European indices closed in different directions, the French CAC 40 and Germany's DAX fell by 0.2% and 0.14% respectively, while Britain's FTSE 100 rose 0.53%. Trades in the U.S. took place at low revs, and culminated in a slight increase of the indices. Published revised values for GDP in the third quarter turned out to be, they say, at the level of "middle ground" - the revised values were better, the preliminary figures on the level of 2.5%, but up to analysts' forecasts at around 2.7% did not have lasted, making 2.6%. But statistics from the secondary housing market has managed to please the players, so the number of homes sold in November was 4.68 million units., While market participants had expected values of the index at around 4.65 million in all, published macro statistics, according to "REAL Invest.kz", provided a moderately positive effect on the dynamics of the bidding, which is fully reflected in his trailing digit growth in the U.S. indices. Today in the United States is also expected to publish an important macroeconomic statistics: there are data on personal income and spending of citizens, data on changes in orders for durable goods, in addition, will be published statistics on sales of new homes and the number receiving unemployment benefits citizens. Finally, after about half an hour after the opening of the NYSE will leave the index of consumer sentiment, University of Michigan Mich. Sentiment. - Site emerging markets were closed on Wednesday, mainly an increase of quotations. China Shanghai Composite, has a traditional way, has completed the last session is different from the other three areas of BRIC, fell by half a percentage point, while the area of Brazil, India and Russia have completed the session by growth on 0.4-0.5%. Probably due to such discrepancy mood of regional players, to a greater extent to the difference of time zones, so if the Chinese site closing session in the face of uncertainty, in particular the Russian market has been supported by news from Europe and GDP data from the U.S. An additional positive factor for the areas of emerging economies made by the growth of commodity assets. - oil prices during the last session of the newly reached levels two-year high, from which the quotation of "black gold" pushed at the beginning of the month. Two basically similar situations at the same time have a number of significant differences. For example, if the trigger is the maximum marks in early December ended a three-percent correction in only one day, then yesterday's achievement of significant elevations seems much more solid - the completion of the session caught the players for the January purchases of contracts for the purchase of a barrel of oil. In general, over the last three sessions, the increase in oil prices was about 2.5%, while it took a break through the eight-price range. - quotes troy ounce of gold, meanwhile, held another, in fact, inconclusive session, ending the trading day just at its beginning. At the same time, given the correction in gold prices by about 0.4% in mid-session, the final result on floating marks, it seems already certain achievements. In general, "REAL Invest.kz" says that traders are likely, will not try to force events in the past year, preferring to move the active phase of the action at the beginning of next, at the same time, substantially corrected quotes troy ounce of gold does not allow good macro statistics published in the U.S. and Europe. - the last session of the currency pair EUR/USD was an exact copy of the Tuesday session - the day began with a small growth of quotations, which then gave way to a significant reduction, but by the end of the session allowed a small correction of the drop to level. At the same time, after yesterday's day trading the euro even closer to the psychological mark of 1.31, and in the case before the week is not going to happen events that can significantly change the dynamics at the currency market, there is a likelihood that the remaining two sessions , the EUR/USD still "give up" note "bears." GBP/USD pair on the session fell to 0.42%, closing below $1.55, from the viewpoint of technical analysis leaves no doubt occurred a change of trend. Analysts of "REAL Invest.kz" noted that the most attractive stories among the shares of Kazakh companies are RD Kazmunaigas, Kazakhtelecom and Halyk Bank. Especially attractive EP KMG and Kazakhtelecom, as both companies are very strong balance sheet with low debt burden, the EP's net debt at all negative, i.e. cash flows of the company exceed liabilities. Besides their business generates more free cash flow, which allows them to pay a very solid dividends. Dividend income on preferred shares of KMG and Kazakhtelecom is 6-8% and 3-4% of ordinary shares. Shares of these companies are traded much cheaper than the shares of similar companies in other emerging markets. This material is for informational purposes and is not an offer or recommendation to perform any transaction in securities. Agency IRBIS is not responsible for the opinions expressed in this material. [2010-12-23]