Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for January 26, 2011

/IRBIS. January 26, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for January 26, 2011. Analysts of JSC "BCC Invest" now expect a negative opening of trading on the background of a decrease in stocks and depositary receipts of Kazakhstan issuers yesterday in London. Further, during the day at the KASE trading dynamics would be volatile, and probably all or part of the losses by the end of the day will play. JSC "BCC Invest" also notes the following important events in the Kazakh market: - January 25, 2011 in the trade system of KASE specialized trades on placement of government treasury bonds of the Ministry of Finance of the Republic of Kazakhstan MEUKAM-156 Release 3 with a maturity of 13 years and Coupon frequency 1 time per year. Placement volume amounted to 2,833,333 bonds worth 2.83 billion (20.2% of the plan), the coupon rate - 5.15% per annum. The volume of active orders, the proportion of pension market had 27.9%, the share of Kazakhstan's second-tier banks (STB) - 26.3%, clients of STB - 24.6%, broker- dealers - 3.9%, their customers - 17.3%. According to data of Central Securities Depository, all transactions on placement MEUKAM-156 third edition by the end of calculations based on trades executed. 8.5% of the total outstanding bonds were redeemed by the subjects of the pension market, 25.9% - BWI, 29.4% - STB clients, 8.8% - broker-dealer companies, 27.3% - by customers of broker-dealers. - European Bank for Reconstruction and Development (EBRD) forecasts GDP growth in Kazakhstan in 2011 to 5%. "(...) Given the fact that oil production will fail in the same way as to ensure economic growth in 2011 is expected to slow GDP growth to 5 percent "- the report said the Bank issued on Tuesday. "Nevertheless, the medium-term growth prospects remain good, particularly in the area in 2015, when oil production is expected to start at the large Kashagan field. There is also potential to expand production of uranium, copper and corn," - stated in the report. According to experts the Bank, despite the fact that the National Bank of Kazakhstan announced the introduction of a March 2011 managed floating exchange rate, which may lead to increased exchange rate fluctuations, it will keep the rate of inflation in the range of 6-8%. According to preliminary data, Kazakhstan's GDP in 2010 grew by 7%. The IMF forecasts that GDP growth in Kazakhstan up to 2011 is 5%. The government of Kazakhstan expects GDP growth of the republic in 2011 at 4-5% Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - Russia is expected to publish data on the consumer price index. - in Germany 13:00 (AST) will be published data on the prices of imports. At 15:30 (AST) in the UK will be published data on the volume of mortgage loans from the BBA, and will publish the proceedings of the Bank of England. At 23:00 (AST) in France will be published data on the net change of job seekers and the total number of unemployed. - U.S. at 18:00 (AST) will be published data on applications for mortgages from the MBA. At 21:00 (AST) will be published sales data on the primary housing market. - Today reports Yahoo! Inc, SAP AG, United Technologies Corp, ConocoPhillips 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 465 479 +3.01 Neutral KKGBp 210 335 +59.52 Buy Halyk Bank HSBK 390 386 -1.03 Buy Bank CenterCredit CCBN 660 646 -2.12 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 19,200 22,300 +16.15 Buy Kazakhmys PLC GB_KZMS 3,550 3,977 +12.03 Hold ENRC PLC GB_ENRC 2,400 2,298 -4.25 Neutral Kazakhtelekom KZTK 19,700 19,200 -2.54 Hold KZTKp 9,300 9,300 0 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. [2011-01-26]