Market reveiws and recommendations of Financial Company REAL INVEST.KZ (Kazakhstan) analysts on December 10, 2011

/IRBIS, January 10, 2011/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on January 10, 2011. JSC Financial Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market: - The first working week of the New Year was quite positive for the U.S. and European sites. Uncertainty "bears", which was caused by the release during the last week of ambiguous macro statistics fairly successfully managed to use the "bulls" in support of which, once again played the Fed chief Mr. Bernanke BS. The U.S. central bank in a rather sharp and unambiguous form denied the rumors regarding the possibility of refusal of last fall of "quantitative easing, 2", explaining the invariability of its own position on this issue so that the restoration of the national economy in 2011 was insufficient to cancel such a significant incentive. From macro statistics should note the publication of a rather contradictory data from the U.S. labor market, so if the unemployment rate in December unexpectedly fell by 0.3% to a level of 9.4%, while experts do not expect significant changes in the index with a mark of 9.7% the number of jobs created in non-agricultural sector during the same period amounted to 103 thousand jobs, while analysts predicted an increase of 150 thousand for the week, the U.S. Dow Jones and S & P 500 added 0,83% and 1,1% respectively. European markets also managed to secure some reserve: the French CAC 40 rose 1.6%, Germany's DAX added 0.49%, Britain's FTSE 100 increased by 1.44% capitalization. - Site emerging markets started the New Year, mainly from the growth indices. Easy to hysteria, based on the assumption that most of the raw assets to date is in the overbought condition, fairly "patted" index areas of emerging economies, which, nevertheless, still managed to hold up to the week in positive territory. Of the four countries of BRIC, in addition to remaining on the New Year holidays, Russia's RTS, we mention about the same in terms of growth of Brazilian Bovespa and the Chinese SSEC (1.06% and 1.1% respectively) and essentially almost four-percent correction of the Indian BSE. - The cost of the contract for the supply of a barrel of light crude oil brand "WTI" up to the first working week in 2011 decreased by 3,6%, to a level of $ 88.5. Despite the existence of a direct relationship, "REAL Invest.kz" There is two main factors contributing to the correction in oil prices - is the strengthening U.S. dollar and fears of market participants about the likely "overheated" a number of resource assets. Completion of trading on Friday was held below the psychological level of $ 90 per barrel, and the next significant support level is concentrated at only $ 85 per barrel. - The cost of ounces of gold over the past week has fallen by more than 3.5% to reach $ 1 370. Strengthening U.S. dollar, along with the traditional growth fears of market participants, coupled with the beginning of a new year has not gone unnoticed and the prices of "precious metal", which, unlike the quotations of "black gold" were corrected last week virtually non-stop. It is noteworthy that in the medium-term chart troy ounces of gold appear to form a model of "head and shoulders", which assumes the continuation in the short term drop in gold prices. At the same time easy to uncertainty due to the fact that the left "shoulder" figures due to "shadow" for a few cents more than the right, but this circumstance, according to the "REAL Invest.kz", with 90% certainty will not be able to convince traders that figure is really formed and most likely we should expect continued sales contracts for delivery of an ounce of gold. - the euro after a relatively positive conclusion in 2010, essentially failed launch of the new year, have adjusted for the first week of its more than 3%. Closing Friday trading took place at around 1.29, below the psychological support level of 1.30, which makes us assume the continuation of the current dynamics at least in the short term. 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. [2011-01-10]