Overview of key developments from analysts of Asyl Invest JSC (Kazakhstan) on February 16, 2011
16.02.11 18:50
/IRBIS, February 16, 2011/ - JSC ASYL INVEST (Almaty) provided
IRBIS overview of major events and of their investment ideas and
forecasts on February 16, 2011.
Analysts of ASYL INVEST note that trading on the Kazakhstan
stock market on Tuesday finished lateral dynamics of the index
KASE. Trading activity of market participants was relatively low. In
terms of index drastic changes have occurred on the shares NSBK
(+3%), KMG (2.4%), CMC (-3.2%) and ENRC (-2.9%).
Trading in shares and depositary receipts of Kazakhstan issuers on
the London Stock Exchange on Tuesday have been in negative
territory. Strong decrease finished the trading session depositary
receipts of the banking sector: KKB GDR fell by 4.3%, GDR NSBK -
3%. Following the fall in prices of base metals mining company
shares have fallen in price - the shares of Kazakhmys and ENRC
fell by 2.6% and 1.5% respectively.
Today, the external background for the Kazakhstan stock market
develops neutral. As a result of today's trading may decrease the
index of KASE.
In addition, the analysts of JSC ASYL INVEST note the
following events in world markets:
- Major U.S. stock indices on the results of Tuesday's session slightly lower.
The main influence on changes in the indices on Tuesday provided the
macroeconomic statistics. The focus of market participants was the
statistics on retail sales for January. U.S. retail sales in January rose 0.3%
after growing by 0.5% in December. Economists had forecast an increase
of 0.5%. Basic retail sales (a measure excluding volatile component in the
form of gas, building materials and auto) in January rose 0.4% after
declining by 0.1% in December. Total retail sales data, despite a slowdown
in their growth rates in January, may be called positive. The average
quarterly change in the basic sales on an annualized basis was 5.1%. Bad
weather in the U.S. in January influenced the slowdown in retail sales,
however, likely that those purchases, which usually occur in January, will
transfer in February, so the figure is likely to accelerate the pace of growth
in the next month. In subsequent months, rate will likely be accelerated due
to increased consumption as a result of growth in real incomes due to
employment growth and tax cuts to the payroll. On Tuesday, market
participants also tracked for other statistics, which, however, was less
important than the statistics on retail sales. In general, other stats released
above expectations of economists. Empire Manufacturing production index
for February rose from 11.92 points to 15.43 points, the index of import
prices in January rose from 1.2% to 1.5%, the total net purchases of U.S.
securities by foreign investors in December rose to US$35.6 billion to 48.2
billion U.S. dollars, inventory in December fell to 85.1 billion U.S. dollars to
65.9 billion U.S. dollars. The fall of stock in December have a negative
impact on the second estimate of U.S. GDP for the IV quarter. Also, market
participants estimated economic statistics from Europe and the Asian
region, which however, did not have a primary influence on the dynamics
of the major U.S. stock indices. In general, trading activity of market
participants on Tuesday were higher than the previous day. On Tuesday,
the NYSE has been bought and sold 928.5 million shares.
- Today the U.S. is expected to yield a series of macroeconomic statistics.
Important will be data on the index of producer prices for January, data on
industrial production for January and the data from the real estate market
in January. Also today, the protocol will be published with the last meeting
of the U.S. Federal Reserve. Today the major stock indexes movement will
depend on the reaction of market participants on macroeconomic statistics.
Corporate reports are not likely to affect the dynamics of the major stock
indexes. Today in the U.S. is expected to publish 122 of the financial
statements of companies in the last quarter.
- Trading on the stock exchanges in Western Europe on Tuesday ended
with multidirectional dynamics of the major stock indexes. Positive impact
on the bidding had corporate reports, and Asian trades. On Tuesday, the
countries of Western Europe were published by an important economic
statistics. In Germany, France, and in general in the Euro zone reached the
GDP data for the IV quarter were below the forecasts of economists. GDP
in Germany and France increased by 0.4%, Euro zone GDP - at 0.3%.
Data from the ZEW for February exceeded expectations of economists.
The index of sentiment in the Euro zone's business environment has
increased from 25.4 points to 29.5 points, Germany - from 82.8 points to
85.2 points. UK consumer price index rose by 0.1%.
- Today on the stock trading in Europe, the effect will be to provide external
background. At the auction in the UK could affect the data from the labor
market.
- Major stock indexes in the Asian region are now showing growth on
optimism about economic recovery. Investors welcomed the foreign and
domestic economic statistics.
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.
[2011-02-16]