Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for January 19, 2011

/IRBIS. January 19, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for January 19, 2011. Analysts of JSC "BCC Invest" now awaiting the opening of trading on a mixed background correction sentiments and wishes of the majority of investors to take profits. 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: - Growth of Kazakhstan's GDP in 2011 is projected at 4-5%, said Minister of Economic Development and Trade of the Republic Mrs. Zhanar Aitzhanova. "Pursued in 2011, government's economic policy, National Bank and the FSA will ensure real GDP growth at 4-5%, keeping inflation in the corridor of 6-8%," - she said at a cabinet meeting on Tuesday in Astana, voicing a joint Statement of the Government, the National Bank and the FSA. The Minister recalled that the GDP growth in 2010 was 7%, annual inflation was 7.8%. In addition, she said, the aggregate amount of foreign reserves, including the National Fund at the end of 2010 amounted to about $ 59 billion. - Joint Lead Manager and Bookrunner planned to issue international bonds of the People's Bank of Kazakhstan, provided KASE official notice of indicative parameters planned to issue international bonds of the People's Bank of Kazakhstan. "Name of Issuer: Halyk Bank of Kazakhstan." Brief description of the bonds: global bonds senior unsecured debt issued in accordance with Pravilom144A and Regulation S. One denomination of $ 200,000 or greater denomination securities: multiply $ 1,000. Expected rating: B + (S & P), B + (Fitch) and Ba3 (Moody's). Software: unsecured. Currency issue and service: the U.S. dollar. The total size of issue: benchmark. Indicative duration of the bonds: 10 years. Expected date for determining the price: the middle of the week. Issue prospectus: Potential investors can review the prospectus of the Notes in the English language in the office of JSC "Halyk Finance". For more information on the expected release will be provided later. - The Arbitration Court of Krasnoyarsk region took up a claim Ltd. UC RUSAL Investment Management "in OJSC GMK Norilsk Nickel, challenging the deal on the alienation of shares in OGK-3" in exchange for shares in Inter RAO, however, denied the plaintiff in the interim measures, according to court documents. A preliminary hearing on the suit will be held on February 18. Rusal calls to annul the decision of the board of directors "Norilsk Nickel" approved the deal on the exchange of shares. Until February 18, the court must be submitted to the minutes of meetings of the Board of Directors of Norilsk Nickel, which was adopted by the paired solution. In this case, the court refused to Rusal in the interim measures on the suit. Aluminum Company requested the ban Nornikel execute the decision the board of directors, to prohibit representatives of MMC vote for the extraordinary meeting of shareholders of Norilsk Nickel on the alienation of shares of OGK-3, to prohibit the General Director of MMC Vladimir Strzhalkovsky to commit the challenged transaction and prohibit the registrar to make a record of the transition ownership of the shares of OGK-3. The court acknowledged the request unreasonable. In addition, the Court upheld the motion remaining 2 lawsuit filed by Rusal, and challenging the buy back of shares of MMC and the sale of shares Quasi Treasury Company Trafigura Beheer BV As follows from the definitions of the court, the lawsuit challenging the transfer of shares in MMC kvazikaznacheyskih in ADR and subsequent sale of their company. Trafigura was left without movement until February 14 because Rusal has not provided the court all the necessary documents. In particular, the lawsuit plaintiff filed claims against several defendants (Corbiere Holdings Limited, Raleigh Investment Incorporated, Trafigura, The Bank of New York International Nominees, The Bank of New York Mellon and Norilsk Nickel). However, the claims brought against only 3 of 6 defendants. Also, Rusal, want to apply the consequences of invalidity in respect of transactions complained of, did not specify in their demands, what is it exactly wants. In addition, plaintiff has not provided the court documents that would confirm the conclusion of the disputed transactions and the statement from the trade register of the country of origin, which would confirm the status of foreign companies-defendants. Another lawsuit Rusal contesting buy back shares in MMC, and left without movement until February 11. The reasons for leaving him without movement was that the plaintiff in this lawsuit is not filed claims to all of the defendants claimed, namely, the MMC (only two defendants in the lawsuit: "Norilsk Nickel" and his "daughter" Corbiere, conducting repurchase). In addition, plaintiff failed to perfect proper documents for payment of state duty and failed to provide the court and an extract from the Commercial Register of the country of origin, which would confirm the status of a foreign company of the defendant - Corbiere Holdings Limited. The next stage in the corporate conflict, which resulted in the management of Norilsk Nickel, is more confident on the background of recent developments. Analyst JSC "BCC Invest" leaves the current recommendation to "hold" with a target price of $ 25.08 per depositary receipt. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data for fiscal balances and consumer price index. - in Europe 15:30 (AST) will be published data on the balance of the current balance of the euro area and the current account balance of payments of the ECB. At 15:30 (AST) in the UK are expected to publish data on the level of applications for unemployment benefits, to change the number of unemployed, unemployment rate from the MOT, as well as the average weekly wage. At 16:00 (AST) will be published data on the volume of production in the construction sector, the Euro zone. - U.S. at 04:00 (AST) were published data on consumer confidence from ABC, is also expected to publish data to the 18:00 (AST) - applications for a mortgage from an MBA, 19:30 (AST) - the construction of new homes , a building permit and start of residential construction.. - Today reports Bank of New York Mellon Corp, Goldman Sachs Group Inc, International Business Machines Corp, and others. 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 457 479 +4.81 Neutral KKGBp 210 335 +59.52 Buy Halyk Bank HSBK 396.99 386 -2.77 Buy Bank CenterCredit CCBN 651 646 -0.77 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 20,050 22,300 +11.22 Buy Kazakhmys PLC GB_KZMS 3,800 3,977 +4.66 Hold ENRC PLC GB_ENRC 2,560 2,298 -10.23 Neutral Kazakhtelekom KZTK 19,550 19,200 -1.79 Hold KZTKp 9,202 9,300 +1.06 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. [2011-01-19]