Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 27, 2010

/IRBIS, December 27, 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 27, 2010. According to the report, analysts note that the premarket on world markets is composed as follows: - Chinese regulators for the Christmas holidays have decided to present to market an unexpected increase in base rates and minimum reserve requirements for banks in the country. The central bank on Dec. 25 raised lending rates and MRI at 0.25 bp. The suddenness and became positive market reaction to the event. Investors felt that the rate increase would leave the inflation under control. On this, at least, said Chinese Premier Mr. Wen Jiabao in the comments about the actions of the central bank. The positive market reaction is also due to the fact that some portion of the market had expected a more vigorous response of the authorities, predicting a rate hike by 50 basis points Shanghai Composite is growing by almost 1%. - The euro/dollar is now trading above $1.31 and compared with the previous trading day rate remained virtually unchanged. In the European session, the euro has a chance to gain a foothold on the rise in demand for risky assets, because Europeans are likely to catch optimism Asians. - Quotes commodities today are growing against the backdrop of a moderate rate hikes in China. Copper prices in Shanghai are growing by nearly 0.6%, Brent crude oil adds to the price of 0.7, trading at around $93.7 per barrel. - European and U.S. stock markets are now able to resume growth on speculation that China's economic growth continues and inflation in this country will remain under control. The beneficiaries of the positive sentiment will be shares of commodity companies. - For the domestic market of the external news background is positive. Shares of mining companies may find themselves in demand. Purchase of shares Halyk Bank and KazakhTelecom can continue, because Analysts BTA Securities sees steady growth of quotations of these securities in the past five days. Catalysts for growth include increasing the forecast on ratings of Halyk and undervalued shares of the national operator. 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 6.0 9.8 Buy +63 KAZKOMMERTSBANK KASE 430.0 728.3 Buy +69 KAZKOMMERTSBANK -PREF KASE 210.0 388.5 Buy +85 HALYK BANK-GDR LSE 10.5 10.5 Hold 0 HALYK BANK KASE 375.0 377.5 Hold +1 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 595.0 1,531.0 Buy +157 -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.0 22.7 Buy +13 KAZKMUNAIGAZ KASE 17,550.0 20,062.0 Buy +14 BMB MUNAI AMEX 0.89 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,610.0 1,427.0 Hold -11 ENRC LSE 1,045.0 1,216.0 Buy +16 KAZAKHGOLD-GDR LSE 3.8 7.0 Buy +86 URANIUM ONE LSE 4.7 3.3 Sell -30 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 18,600.0 33,825.0 Buy +82 STEPPE CEMENT LSE 51.5 120.9 Buy +135 -------------------------------------------------------------------------- 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. [2010-12-27]