Overview of key developments from analysts of Asyl Invest JSC (Kazakhstan) on January 28, 2011
28.01.11 18:42
/IRBIS, January 28, 2011/ - JSC ASYL INVEST (Almaty) provided
IRBIS overview of major events and of their investment ideas and
forecasts on January 28, 2011.
Analysts of JSC ASYL INVEST note that trading on the Kazakhstan
stock market on Thursday resulted in the growth of KASE index due
to the increase in prices of shares of BCC and the CMC at 1.4% and
2.2% respectively. Trading activity of market participants was
relatively low. Trading in shares and depositary receipts of
Kazakhstan issuers on the London Stock Exchange on Thursday
were in positive territory. Depositary receipts of the banking sector
added significantly to the cost: KKB and NSBK rose by 2.34% and
3.38% respectively. Shares of Kazakhmys and ENRC rose by
0.52% and 0.88% respectively.
Today, the external background for the Kazakhstan stock market
develops neutral. As a result of today's trading analytics ASYL
INVEST do not expect significant changes in the market.
In addition, the analysts of JSC ASYL INVEST note the
following events in world markets:
- high-tech NASDAQ Composite Index finished Thursday's session of the
growth, while the Dow Jones Industrial Index and the broad market S & P
500 were consolidated near important technical levels. NASDAQ
Composite Index growth contributed to the good reports from companies
NetFlix (NFLX) and Qualcomm (QCOM), as well as expectations of good
results from the company Microsoft (MSFT). Record company Microsoft
(MSFT) was published in the last minute, the main trading session and
showed earnings per share of 77 cents, exceeding analysts' expectations.
Reports of companies Procter & Gamble (PG), AT & T (T), Caterpillar
(CAT) were also better than analysts' expectations, but could not lead to
the consolidation of the Dow Jones index above the level at 12 000 points.
Economic statistics, published Thursday in the U.S., was generally good,
and even in some cases positive. Orders for durable goods in the U.S. in
December fell 2.5% after declining by 0.1% in November. Economists had
expected orders to increase 1.5%. Without taking into account volatile
component in the form of orders of vehicles had increased by 0.5% after
rising 4.5% in November. Economists had forecast growth rate of the
purified 0.9%. Thus, the main reason of falling orders for durable goods in
December, the fall of the order of vehicles by 12.8%. In general, a report
on orders for durable goods, we estimate a positive, as the benchmark of
orders for durable goods in December increased by 1.5%. This gives
reason to expect that the growth of U.S. GDP for the IV quarter will be
above 3% in annual terms. The second important economic indicator,
which was published yesterday - the number of initial claims for
unemployment benefit for the week ended Jan. 22. The figure for the
period, adjusted for seasonal variations rose from 403 thousand to 454
thousand, which exceeded the forecasts of economists, who forecast the
growth rate up to 405 thousand sharp rise in output was due to weather
conditions - snow storm in the southern part of the country (in 4 states ) did
not allow workers to return to work. Also, the growth rate has affected the
seasonal volatility. In general, the trend quite positive - four-week moving
average stands at 429 thousand, we expect that next week, this indicator
will decline.
- Today the U.S. is expected to publish quarterly reports of 56 companies,
including company reports Ford Motor (F) and Chevron (CVX). From the
macro-economic statistics will be published: Data on U.S. GDP for the IV
quarter and consumer confidence from the University of Michigan in
January. Trading in stocks today will depend on economic statistics, and
individual corporate reports.
- trading on stock exchanges in Western Europe on Thursday ended with
multidirectional dynamics of the major stock indexes. Pressure on the
indices provided news about lowering the credit rating agency S & P
sovereign credit rating from AA to Japan's AA-. Also influence the course
of trading in shares has the U.S. macroeconomic statistics. Today in
Europe was published economic statistics, which is appreciable effect on
the dynamics of the major stock indexes in Western Europe did not have.
CPI Germany in January fell by 0.5% compared to the previous month,
while the index of business sentiment in the euro area in January fell to
106.6 points to 106.5 points.
- Analysts of JSC ASYL INVEST expect major stock indexes in Western
Europe during the greater part of the session today will show oscillations
near the neutral line. Probably, the market will take a wait before the
session of the United States.
- major Asian stock indexes today are reduced. In Japan the Nikkei stock
index falls 225. Negative impact on the Japanese index has a drop rating
agency S & P sovereign credit rating to AA from AA-. Released today, the
economic statistics in Japan could not stop falling. The unemployment rate
in December declined from 5.1% to 4.9%, the index of consumer prices in
December showed no change, core consumer price index fell by 0.7% in
December compared with a decline to 0.9% in November. Negative factor
is the drop in December retail trade by 4.1% compared with the growth rate
at 2.1% in November.
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.
[2011-01-28]