Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 11, 2011

/IRBIS. March 11, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 11, 2011. Analysts of JSC "BCC Invest" day at the KASE expect a negative opening of trading on the negative external background. Further, during the day, probably on the shares included in the index KASE, will also be a mixed and multidirectional dynamics, and KASE index completes day closer to the neutral mark. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: - "SamrukKazyna" will sell common shares of National Bank on March 28 for more than 32.8 billion KZT. The National Bank of Kazakhstan and its majority shareholder - a holding group Almex "buy- out of State Fund" SK "package of its common shares on March 28 this year. As a result of exercise of the option of 259 million 64 thousand 909 ordinary shares of National Bank (currently at 19.8% of all outstanding common shares), currently owned by SK, 213 million common shares will be redeemed by the bank and 46 million 64 thousand 909 ordinary shares will be purchased Almex. Exercise price, calculated on 28 March 2011 by a special formula, is 126.8 KZT (current 145.7/$1) per ordinary share, which will provide, "SK" yield of 15.75% per annum. In the end, "SK" to sell their shares for 32 billion 849 million 430.5 thousand KZT. - Interros will retain an advantage in the board of directors of Norilsk Nickel - Mr. Potanin. Interros will retain an advantage in the Board of Directors of MMC Norilsk Nickel (RTS: GMKN) over the other major shareholder in the company - Rusal, said the owner of the holding Mr. Vladimir Potanin. "We have, apparently, the other shareholders of Norilsk Nickel and observers to come to terms with the fact that the balance of the board of directors - is not the equal participation of Interros and Rusal, and in proportion to their share in the capital. And given that Rusal "have an obligation to elect the board of Norilsk Nickel also representatives of Sberbank (RTS: SBER), then he will probably need some time to live in a situation that he has on one or two board members will be less," - said Mr. Potanin, in an interview to Vedomosti. Rusal in Norilsk Nickel owns a blocking stake, "Interros", according to an official disclosure two years ago - the same amount. In fact, however, Interros always voted pack of about 30%, and Rusal in the summer of 2008, stated that the company of Vladimir Potanin may own and a large package (in case of excess of 30% strength threshold Majoritarian should put an offer to other shareholders - IF). He also confirmed that Interros is ready to support the election of the board of directors of Norilsk Nickel Mr. Alexander Voloshin, on which insists Rusal. According to the JSC "BCC Invest" this news will not have much impact on stock prices, and depositary receipts of MMC Norilsk Nickel. Today will hold an extraordinary general meeting of shareholders, which should brighten the future resolution of the conflict between corporate shareholders. Analysts of JSC "BCC Invest" and expect the following developments in international markets today: In today's Russia is expected to publish data on the consumer price index. - today Russia is expected to publish data on monetary base in narrow definition. - At 13:00 (AST) in Germany to be published data on the index of consumer and wholesale prices. At 13:45 (AST) in France will be published data on the balance of payments. At 15:00 (AST) in Italy will be published GDP data. In the UK, 15:30 (AST) will be published data on the Producer Price Index PPI input and sales prices. - Today, the United States in 19:30 (AST) will be published data on retail sales, in 20:45 (AST) - on consumer confidence from the University of Michigan, and in 21:00 (AST) - by commodity stocks and vacancies from JOLTs. Today accountable NovaTek OJSC, Mechel, Atlantia SpA, 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 550 583 +6.00 Neutral KKGBp 230 196 -14.78 Neutral Halyk Bank HSBK 380 432 +13.68 Hold Bank CenterCredit CCBN 615 646 +5.04 Hold Tsesnabank TSBN 865 1,030 +19.08 Neutral KazMunaiGaz RDGZ 20,600 20,500 -0.49 Hold Kazakhmys PLC GB_KZMS 3,250 3,970 +22.15 Buy ENRC PLC GB_ENRC 2,400 2,767 +15.29 Buy Kazakhtelekom KZTK 19,500 19,200 -1.54 Hold KZTKp 9,350 9,300 -0.53 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. [2011-03-11]