Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 10, 2011

/IRBIS, May 10, 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 May 10, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The situation in foreign markets against the background of problems in the euro area is fragile. For the domestic market, this means the risk of further fall of stock price of commodity companies, as well as companies with weak fundamental characteristics. Thus, today, quotes of stocks of Kazakhmys, ENRC, EP KMG, KKB and Bank CenterCredit will be under strong pressure. - Asian indices in current trades are under pressure. News about lowering the credit rating of Greece raises the demand for protective tools, such as the yen and the dollar, which underscores the growing fears of investors that the debt crisis in the euro area can adversely affect the pace of global economic recovery. Some support to the market was provided data on China's trade balance. In April, it increased dramatically to $ 11 billion against 139 million the previous month, well above economists' forecast of $ 1 billion in growth rates of exports amounted to 29.9% (the forecast of the market - 29.4%), while imports - 21.8 % (the forecast of the market - 28%). Shanghai Composite index is growing 0.3%, Nikkei - down by 0.3%. - Today, the euro/dollar continues to decline (-0.22%), and is traded at 1.4334. Greek factor continues to exert pressure on the euro. Sovereign rating of Greece, reduced by S & P's from BB- to B (negative outlook), coupled with rumors of a possible withdrawal from monetary union spread panic among the foreign exchange market participants who sell the single currency. However, official representatives of Greece and the European Union categorically deny the possibility of excluding countries from the euro zone. European authorities are in favor of preserving the unity of union and providing additional support to the Greek government. At this time, we discuss the possible extension of the payment of debts in the provision of a package of financial assistance. Nevertheless, reducing the likelihood of pair euro/dollar to a mark of 1.40 increased amid growth in bond yield spreads and the expansion of CDS of peripheral eurozone countries. - Commodity markets are now more likely to decrease than to increase. The cost of Brent crude oil futures today decreased by 1.3% and is slightly above $ 114 a barrel., Copper price at auction in Shanghai shows a side dynamics, the data on China's trade surplus does not inspire the players to buy, given the slower than expected growth imports. Gold today is corrected by 0.1%. Analysts of BTA Securities give the following advice for investors in securities of issuers in Kazakhstan: ----------------------------------------------------------------------- Last. Target price Recommen- Poten- Issuer SE price for 2011 dation tial, % -------------------------- ---- -------- ------------ --------- ------- Banks ----------------------------------------------------------------------- KAZKOMMERTSBANK-GDR LSE 6.5 6.2 Sell -4.6 KAZKOMMERTSBANK KASE 486.0 452.0 Sell -7.0 KAZKOMMERTSBANK -PREF KASE 210.0 226.0 Sell +7.6 HALYK BANK-GDR LSE 9.7 13.6 Buy +40.2 HALYK BANK KASE 345.0 474.0 Buy +37.4 HALYK BANK -PREF (HSBKP) KASE 168.4 237.0 Buy +40.7 HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy - BANK-CENTER-CREDIT KASE 495.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 21.5 22.7 Hold +5 KAZKMUNAIGAZ KASE 19.000.0 20.062.0 Hold +6 BMB MUNAI AMEX 0.96 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1.283.0 1.427.0 Hold +11 ENRC LSE 868.0 1.216.0 Buy +40 KAZAKHGOLD-GDR LSE 2.0 n/a Review n/a URANIUM ONE LSE 4.2 3.3 Sell -22 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19.200.0 33.825.0 Buy +76 STEPPE CEMENT LSE 43.3 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.. [2011-05-10]