Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 23, 2010

/IRBIS, December 23, 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 23, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - Statistics of the U.S. GDP is some support for Asian markets at the opening of trading, but in the course of trading, it becomes clear that this is not sufficient for further growth. Shanghai Composite now reduced to 0.5%, Hang Seng - adds only 0.2%. Confusion in the market movement is making in China, where the government tightened control over the flow of foreign investment in the real estate market of the country. Trade Ministers today said that it plans to review development projects with foreign participation. Shares of banks and real estate companies react negatively to the actions of regulators. - The euro/dollar is now trading at two-week lows, at levels just above 1.31. Exert pressure on the speculation that the European banks and governments will be forced to take more money, which gives grounds for believing that the debt crisis in the region will continue. ECB in the near future plans to provide European banks funds in the amount of 149.5 billion euros for three months to maintain their liquidity. The ECB yesterday also said that these tools are now in need 270 banks in the region. - Quotations of commodities traded today at yesterday's close, or move to the south. Copper prices in Shanghai fell by almost 1% in London - on 0.3%, after investors decided to lock the profit on historical price highs. Brent crude traded at around $93.4, which is slightly below yesterday's closing price. - European stock market today in the first half of the trading day is likely to show lateral dynamics with a tendency to decrease on the background correction in commodity prices and lowering the euro / dollar. In the U.S. session will be determined by the dynamics of emerging markets, today a wide block of statistics on the U.S. economy. Investors will be made available data on changes in orders of durable goods, personal spending and incomes of Americans, sales of new homes, as well as the number of initial claims for unemployment benefits, and Michigan consumer confidence index. Orders excluding transportation component, the forecasts of economists, should grow by 2% in November, costs and revenues by 0.2% and 0.5% respectively, sales of houses - by 6%. Consumer confidence index is forecast grown at 0.3 points in December, and the number of applications for benefits was unchanged last week. - For the domestic market of the external news background neutral, analysts of BTA Securities expect restrained dynamics of the market 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 5.8 9.8 Buy +70 KAZKOMMERTSBANK KASE 427.0 728.3 Buy +71 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 10.4 10.5 Hold +1 HALYK BANK KASE 366.0 377.5 Hold +3 HALYK BANK -PREF (HSBKP) KASE 185.2 189.0 Hold +2 HALYK BANK -PREF1 (HSBKP1) KASE 180.0 189.0 Hold +5 BANK CENTER CREDIT KASE 590.8 1,531.0 Buy +159 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.1 22.7 Buy +13 KAZKMUNAIGAZ KASE 17,500.0 20,062.0 Buy +15 BMB MUNAI AMEX 0.90 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,633.0 1,427.0 Hold -13 ENRC LSE 1,051.0 1,216.0 Buy +16 KAZAKHGOLD-GDR LSE 3.8 7.0 Buy +86 URANIUM ONE LSE 4.8 3.3 Sell -30 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,500.0 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. [2010-12-23]