Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for January 17, 2011

/IRBIS. January 17, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for January 17, 2011. Analysts of JSC "BCC Invest" now expect a mixed and multi-directional opening of trading on the background of a moderate decline of stock price and depository receipts of Kazakhstan issuers yesterday in London. Further, during the day at the KASE trading dynamics will depend on investor sentiment in the western trading floors. JSC "BCC Invest" also notes the following important events in the Kazakh market: - Chairman and non-executive director of ENRC Mr. Johannes Sittard (Johannes Sittard) has sold its 25% stake in the company for 1.680 million pounds; the report indicates the London Stock Exchange. Mr. J. Sittard sold 150 thousand common shares at a price of 1,120 pence per share. As a result of its ownership remained 450 thousand ordinary shares, equal to 0,035% stake in ENRC. Prior to joining ENRC in 2001 by Mr. J. Sittard was the President and CEO of Mittal Steel Company (now a steel concern ArcelorMittal). The company's shares fell 1.3% on Thursday, but last month they rose by 12%. Analysts JSC "BCC Invest" does not expect much impact on stock prices ENRC PLC. The current recommendation of JSC "BCC Invest" "NEUTRAL" c target price of 998 pence per share. - OJSC MMC Norilsk Nickel (RTS: GMKN) said writs LLC RUSAL Investment Management "in which the aluminum company challenges the legality of the buy back shares in MMC, the sale of shares in the Netherlands quasi treasury Trafigura and the alienation of shares in OGK- 3 "(RTS: OGKC), to be unfounded, the report said MMC." grounds for such claims is not available, the company intends to actively challenge their validity, "- said in a statement. At the same time in the Norilsk Nickel has not yet received the texts of statements of claim Rusal. RusAl filed three writs in the Court of Arbitration of Krasnoyarsk Territory. In one shareholder in Norilsk Nickel asks the court to declare as illegal the public offer "daughter" MMC - Corbiere Holdings Limited - to acquire up to 6.2% stake in Norilsk Nickel and costs $ 252 per share, or $ 25.2 per ADR. In the second RUSAL requests to invalidate conversions quasi treasury of MMC in ADR and to invalidate the sale of the company's receipts Netherlands trader Trafigura Beheer BV. In addition, in the third lawsuit Rusal "Requests to invalidate the decision of the Board of Directors of MMC on December 28, 2010, adopted under the approval procedures for the alienation of the controlling stake in OGK-3 in exchange for a stake in Inter RAO. Continued corporate conflict between the management of Norilsk Nickel and Rusal and Norilsk Nickel is the next statement response of the action on the charge of management of MMC Norilsk. JSC "BCC Invest" leaves the current recommendation to "hold" with a target price of $ 25.08 per depositary receipt. - Nord Gold (gold mining division of OJSC Severstal) (RTS: CHMF) on Monday could begin premarketing IPO, told Interfax-AFI" a source in banking circles. "We look forward to beginning premarketing of Nord Gold on Monday - a spokesman said. In late October, citing a report URALSIB Capital reported that Nord Gold postponed its IPO on the London Stock Exchange since the fall of 2010 until the first quarter of 2011. IPO volume may be about $ 1 billion, and evaluation of all Nord Gold after placement - $ 3 billion IPO Nord Gold organizers serve Credit Suisse, Morgan Stanley and Troika Dialog (RTS: TROY). The company can accommodate about 30% of the shares. Itself Severstal previously stated that an IPO is one of the possibilities of gold segment and is under consideration. JSC "BCC Invest" expects a moderately positive effect on stock prices Severstal. JSC "BCC Invest" leaves the current recommendation to "buy" with a target price of $25.92 per depositary receipt. - OJSC Severstal has resumed negotiations with Berkeley Resources (uranium mining company) to buy 16.3 million new shares, Berkeley. Berkeley, needs additional funds for project development of Salamanca in Spain is ready to sell shares to 2 Australian dollars ($ 1.98). Previous Severstal offer to buy shares of Berkeley with a 40% premium to the market price expired on January 14 this year. Launch of uranium mining on the project Salamanca is scheduled for late 2012. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russian publications of economic statistics are expected. - The UK 06:01 (AST) were published data on house price index from Rightmove. - In the U.S. publication of economic statistics is expected. 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 456 479 +5.04 Neutral KKGBp 210 335 +59.52 Buy Halyk Bank HSBK 397 386 -2.77 Buy Bank CenterCredit CCBN 639.99 646 +0.94 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 18,500 22,300 +20.54 Buy Kazakhmys PLC GB_KZMS 3,710 3,977 +7.20 Hold ENRC PLC GB_ENRC 2,520 2,298 -8.81 Neutral Kazakhtelekom KZTK 18,898 19,200 +1.60 Hold KZTKp 8,800 9,300 +5.68 Hold 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. [2011-01-17]