Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 1, 2011

/IRBIS. March 1, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 1, 2011. Analysts of JSC "BCC Invest" again today expect mixed and multi- directional opening of trading on an inconsistent external background. Further, during the day, perhaps, share prices in the index KASE, will depend on investor sentiment in the western trading floors. JSC "BCC Invest" also notes the following important events in the Kazakh market: - JSC Sokolov-Sarbai Mining Production Association (SSGPO in the holding ENRC, in Kostanai region of Kazakhstan to the north) is planning to introduce a new production line at the factory wet magnetic separation in April 2011, the press office of government Kostanay region. According akimat, currently at the plant are the installation works. "At the 17 th section of wet magnetic separation plant is actively under way installation works on an assembly of equipment and machinery for the production of additional neoflusovated pellets, iron ore, - the message akimat. With the launch of a new section of the factory production capacity will increase by 1 million tons per year. Currently, the power plant is 14.9 million tons of concentrate per year. The cost of this project is approximately $ 50 million analysts JSC "BCC Invest" does not expect the strong influence of the news on share prices ENRC PLC. Expansion of capacity at SSGPO to 16 million of iron ore per year corresponds to the company's investment program, announced earlier. JSC "BCC Invest" leaves the current recommendation to "buy" with target price of 11.67 pounds per share for the LSE and 2767 - at KASE. - "Daughter" OJSC MMC Norilsk Nickel (RTS: GMKN) (GMKN) (GMKN) (GMKN), Corbiere Holdings Limited, estimates the maximum amount of requests of shareholders, which may be satisfied during the buyback, in more than $ 1 billion, says Corbiere reported on the results of a court of the island Nevis, cancelled security measures imposed at the suit of Rusal. On Monday, subsidiary of Norilsk Nickel paid to shareholders in the buyback $ 600 million (out of a total of $ 1 billion - IF), reported in Norilsk Nickel. Norilsk Nickel, as reported, has already managed to buy out all charges against the redemption of the shares and ADR. Under repurchase the company intends to acquire for $ 252 (7538.5 rubles) per share of about 7,2% of the share capital, 55% of them acquired in the form of ADR, 45% - in the form of shares. To buy back was supposed to spend $ 3.466 billion, "Norilsk Nickel" did not report how many shares were purchased by the de facto, however, according to Interfax ", buyback at the time of imposition of provisional measures was completed by 90%. Corbiere on Monday resumed the process of acquiring the shares from shareholders of MMC, in accordance with the decision of the court on the island of Nevis withdrawal of security measures imposed on claims United Company Rusal Plc and "UC RUSAL Investment Management." The court's decision island Nevis, but the completion of buyback, enables the Corbiere and other "daughter" of MMC, Raleigh Investments Inc., To vote the ordinary shares purchased and the ADR at an extraordinary shareholders meeting on March 11. Aluminum Company, in turn, claimed that the court did not prohibit "daughter" MMC complete the share buyback, but the "daughter" Norilsk Nickel "has no right to vote their shares, as it reinforces" the illegal de facto control of a group of persons in the management of Norilsk Nickel and Interros to the detriment of the interests of all shareholders. "Analysts of JSC "BCC Invest" does not expect the strong influence of the news on quotes of equity securities of MMC Norilsk Nickel. Withdrawal of interim measures an effect positively, however, remains to be seen what will happen with the right to vote these shares, all cleared up at an extraordinary board of directors appointed on March 11 this year. JSC "BCC Invest" leaves the current recommendation to "hold" with a target price of $ 25.08 per depositary receipt. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - in Russia 11:00 (AST) published data on the manufacturing index PMI, below, during the day, is expected to publish data on the Reserve Fund and National Welfare Fund. - The UK 13:00 (AST) published data on house prices, in 15:30 (AST) - on the production index of PMI, on consumer and mortgage loans, and monetary aggregate M4. At 14:55 (AST) in Germany published the data on unemployment and manufacturing index PMI. At 16:00 (AST) published data on the forecast Euro zone CPI and unemployment rate. - U.S. at 21:00 (AST) will be published data on the volume of expenditure in the construction sector, as well, ISM will publish data on business activity in the manufacturing sector and the index of gradual acceleration of inflation. - Today report Vinci SA, Vivendi SA, Sina Corp, and others. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: ---------------------------------------------------------------------- Issuer Last price Target Predicted price. code price % Recom- mendation ----------------- ------- ---------- ------ ---------------- --------- Kazkommertsbank KKGB 540 479 -11.30 Neutral KKGBp 230 335 +45.65 Buy Halyk Bank HSBK 379.75 432 +13.76 Hold Bank CenterCredit CCBN 625 646 +3.36 Hold Tsesnabank TSBN 870 1,030 +19.08 Neutral KazMunaiGaz RDGZ 20,200 20,400 +0.99 Hold Kazakhmys PLC GB_KZMS 3,450 4,120 +19.42 Buy ENRC PLC GB_ENRC 2,400.01 2,767 +15.29 Buy Kazakhtelekom KZTK 19,500 19,200 -1.54 Hold KZTKp 9,500 9,300 -2.11 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. [2011-03-01]