Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for February 22, 2011

/IRBIS, February 22, 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 22, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - For the domestic market today, the negative news background. Shares of Kazakhmys and ENRC are now able to continue to decrease in response to a decline in prices for industrial metals, particularly copper. KMG may have a demand in the market against the backdrop of high oil prices due to tensions in the Middle East. Bank shares under pressure after a significant growth since the beginning of the year. - Trading in Asia today is in the negative zone. Fears that the political crisis in the Middle East can have serious consequences for the global economy, spread from Europe to the "yellow continent." Investors are speculating that the tensions in the region could cause disruptions in the supply of oil and gas, cause an increase in inflation and force central banks to take measures to curb inflation by raising rates. Indexes Hang-Seng, Shanghai Composite and the Nikkei fell by an average of 2%. - Today, Asian investors are obsessed with selling the euro against the backdrop of growing fears about a further escalation of political crisis in North Africa and the Middle East. Following Libya's situation is exacerbated in Morocco and Bahrain. Such instability in the region leaves no choice for investors as the transfer of its resources in risk-free assets, in particular the exercise of the purchase dollar. Further support for an American and has a projected increase in consumer confidence in the U.S. and 63 points in February. As a result, the euro / dollar declines by 0.7% and is trading at 1.358. - The raw material market experienced negative dynamics. Copper continues to decline in London and New York, under pressure from speculation about monetary tightening in China and possibly in other leading countries, amid growing inflationary expectations. Prices for Brent after the rally on the eve adjusted by more than 1%. Gold after the correction at the beginning of the year again finds demand amid tensions in the Arab world and the growth of inflationary expectations. Prices rose on the eve of 0.2%, reaching $ 1,405 per ounce. During the last five days, an increase of 3%. - European and American markets today are likely to continue / begin to decline on growing concerns about the situation in Arab countries. Quotes of mining companies, including oil, will come under pressure. In general, the theme of the Middle East, inflation risks and a tightening of monetary policy in the relationship is serious and may prevail in the market for a long time, because it is likely that the crisis will cover more countries in the region. Accordingly, it can become a compelling reason to fix profits at current price levels. 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 7.9 n/a Review n/a KAZKOMMERTSBANK KASE 550.0 n/a Review n/a KAZKOMMERTSBANK -PREF KASE 230.0 n/a Review n/a HALYK BANK-GDR LSE 10.8 n/a Review n/a HALYK BANK KASE 392.0 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 658.0 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Oil and Gaz: -------------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 21.7 22.7 Hold +4 KAZKMUNAIGAZ KASE 19,000.0 20,062.0 Hold +6 BMB MUNAI AMEX 1.00 n/a Review n/a -------------------------- ----- -------- ------------ --------- --------- Metallurgy: -------------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,452.0 1,427.0 Hold -2 ENRC LSE 985.5 1,216.0 Buy +23 KAZAKHGOLD-GDR LSE 3.1 7.0 Buy +127 URANIUM ONE LSE 6.0 3.3 Sell -45 -------------------------- ----- -------- ------------ --------- --------- Companies with small capital: -------------------------------------------------------------------------- KAZAKTELECOM KASE 19,950.0 33,825.0 Buy +70 STEPPE CEMENT LSE 52.5 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. [2011-02-22]