Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for February9, 2011

/IRBIS, February 9, 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 February 9, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The domestic market of today is likely to be dominated by sentiment in foreign markets. Improving China's central bank base rate is already affecting the dynamics of the commodity market in a negative way. Therefore, it is likely today's stock price drop of Kazakh mining companies, ENRC and Kazakhmys. Shares of the banking sector of other non-primary market are likely to ignore the external background. - Asian markets are now declining at a moderate pace in response to rising rates in China for a quarter per cent, due to continued high inflation risks in the country. Nikkei today is trading at yesterday's close, Hang-Seng and Shanghai Composite down by 0.5% and 0.3% respectively. Shares of the largest real estate developers are losing value rapidly. - Today, the euro/dollar rises to 0.20% and traded at 1.365. Improving Central Bank of China's interest rates are not cooled the appetite of investors for risky assets, as evidenced by yesterday's increase in U.S. indices. Moreover, the euro is rising in anticipation of positive data on foreign trade in Germany in December, where the expected growth in export volumes by 1%. On the Asian session, the pressure on the U.S. dollar has statements by the U.S. Federal Reserve, who are in favor of the program execution QE2 in full and on schedule. - The raw material market today, uncertainty reigns amid fears that the rapid rise in interest rates in China could negatively affect economic growth and demand for metals. Copper in New York trading at outset, in Shanghai - adds 1.4%, mainly growth of quotations of the "red metal" in Europe during the Christmas holidays in China. Futures for Brent crude oil supply has not changed in value compared to the previous day. Support quotes data API to reduce the oil reserves in the U.S. for the first time in the past five weeks. - Today, the fate of trading in Europe and the U.S. will be determined by statistics of German exports and the U.S. - unemployment. Market interest will report Coca-Cola for the 4 quarter of 2010. Positive U.S. data today can support the market and oil prices. 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 8.3 n/a Review n/a KAZKOMMERTSBANK KASE 590.0 n/a Review n/a KAZKOMMERTSBANK -PREF KASE 230.0 n/a Review n/a HALYK BANK-GDR LSE 12.3 n/a Review n/a HALYK BANK KASE 438.0 n/a Review n/a HALYK BANK -PREF (HSBKP) KASE 168.4 n/a Review n/a HALYK BANK -PREF1 (HSBKP1) KASE - n/a Review n/a BANK CENTER CREDIT KASE 660.0 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 22.2 22.7 Hold +2 KAZKMUNAIGAZ KASE 19,500.0 20,062.0 Hold +3 BMB MUNAI AMEX 0.94 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,622.0 1,427.0 Hold -12 ENRC LSE 1,029.0 1,216.0 Buy +18 KAZAKHGOLD-GDR LSE 3.4 7.0 Buy +107 URANIUM ONE LSE 6.5 3.3 Sell -49 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 20,100.0 33,825.0 Buy +68 STEPPE CEMENT LSE 54.5 n/a Review n/a -------------------------------------------------------------------------- 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. [2011-02-09]