Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 17, 2011

/IRBIS, May 17, 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 17, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - News background before opening of trading on KASE was neutral. Today, there are no clear signals to further reduce on the markets, as well as to decline. It is not excluded that the auction will be held today in low trading activity. - Today, the major Asian indices are mostly falling on fears that a default on its obligations in Greece could lead to serious losses for banks. Estimated to Moody's, European banks could lose about 34 billion euros, in the worst case for them. The reasons for concerns about economic growth are the weak data on an index of business activity in the District of New York. Japan's Nikkei drops by 0.2%, Hang Seng - 0.1%, Shanghai - rises 0.6%. - Today, the euro/dollar is set at 1.417 by adding at the beginning of the day 0.1%. The negative statistics from the U.S., which showed a sharp decrease in the production index of Empire, putting pressure on the dollar. Meanwhile, the process of providing additional financial assistance to Greece is prolonging, which, according to EU finance ministers must more effectively carry out measures to reduce public spending and selling state assets (privatization). The idea of restructuring the debts of Greek was deleted. At the meeting, was approved by a three-year financing package for the Portuguese in the 78 billion euros, but it must be finally approved by the Parliaments of all members of the eurozone. This will make it quite difficult, since in the northern regions of Europe, citizens are dead set against giving any aid confronted with problems of peripheral countries. Moreover, the new government of Portugal will need to move previously rejected by the Parliament of the budget, providing for austerity measures, which execution is restricted to the package developed by the IMF and the EU. - The commodity markets have been stabilized. Prices of Brent, as well as copper futures in Shanghai have not changed significantly compared with the closing on Monday. Weak statistics on the U.S. has already been played the previous day, while the euro strengthened slightly against the dollar, so there are no strong drivers for growth yet. Closer to the opening of trading in the U.S. influence on commodity markets will have U.S.data on new buildings in April. 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 6.6 6.2 Sell -5.7 KAZKOMMERTSBANK KASE 469.7 452.0 Sell -3.8 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 9.4 13.6 Buy +44.2 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 515.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.7 22.7 Hold +10 KAZKMUNAIGAZ KASE 18,050.0 20,062.0 Hold +11 BMB MUNAI AMEX 0.96 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,242.0 1,427.0 Hold +15 ENRC LSE 831.5 1,216.0 Buy +46 KAZAKHGOLD-GDR LSE 1.9 n/a Review n/a URANIUM ONE LSE 3.7 3.3 Hold -10 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,400.0 33,825.0 Buy +74 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. Irbis Agency doesn't take responsibility for the opinions which are in given material. [2011-05-17]