Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for January 20, 2011

/IRBIS, January 20, 2011/ - 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 January 20, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Asian stock market falls today, substantial pace. Hang-Seng and Shanghai Composite lost an average of 1.3%, while the Nikkei - 1.1%. Selling in the stock market was caused by two factors. On the eve of U.S. indexes fell more than 1% in response to weak corporate results and negative statistics on real estate market. Secondly, the data of China's GDP and inflation for the 4 quarter of 2010, released today, showed economic growth at 9.8% and inflation at 4.6%. The figures for GDP were better than expected, but the market found that high rates of economic growth and inflation may encourage regulators to further tighten monetary policy. This downturn may also be due to the fact that expectations for GDP growth of China were established in the indexes on Tuesday, when the market leaked information from unofficial sources, so investors have preferred to fix profit. - The euro/dollar is now trading at around 1.345, decreasing by 0.10% after the fall of the stock market in the U.S. and Asia boosted demand for the dollar. - Quotes commodities today are moving in different directions. Positive data on the GDP of China took the price of copper in electronic trading in London at 0.6%. Oil prices decline modestly in response to weak U.S. statistics on new buildings and the forecast of API growth in U.S. oil inventories. - Trading in Europe today is likely to begin with a moderate decrease in the stock market, because events in the U.S. have already played in full. Further dynamics of U.S. and European markets will be determined by corporate news and economic statistics. Key events of the day today will be the reports of Morgan Stanley and Freeport-McMoRan Copper & Gold, as well as the U.S. statistics on unemployment home sales in the secondary market and the index of business activity in the district of Philadelphia. Before you start trading in the U.S. a positive message to give reports on eBay and broker Raymond James. According to statistics, is expected to decrease the number of initial claims for unemployment benefits by 25 thousand, the growth of home sales by 4.1% in December and a decrease in business activity index in January. - For the domestic market of the external news background today is negative. Reducing the stock markets of Europe and the U.S. and Asia could be a signal to lock in profits for domestic players. 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 6.3 n/a Review n/a KAZKOMMERTSBANK KASE 469.0 n/a Review n/a KAZKOMMERTSBANK -PREF KASE 210.0 n/a Review n/a HALYK BANK-GDR LSE 11.0 n/a Review n/a HALYK BANK KASE 397.0 n/a Review n/a HALYK BANK -PREF (HSBKP) KASE 185.2 n/a Review n/a HALYK BANK -PREF1 (HSBKP1) KASE - n/a Review n/a BANK CENTER CREDIT KASE 651.0 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 22.9 22.7 Sell -1 KAZKMUNAIGAZ KASE 19,700.0 20,062.0 Hold +2 BMB MUNAI AMEX 0.87 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,622.0 1,427.0 Hold -12 ENRC LSE 1,069.0 1,216.0 Hold +14 KAZAKHGOLD-GDR LSE 3.2 7.0 Buy +120 URANIUM ONE LSE 5.4 3.3 Sell -39 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 19,800.0 33,825.0 Buy +71 STEPPE CEMENT LSE 56.5 120.9 Buy +114 -------------------------------------------------------------------------- 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. [2011-01-20]