Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 18, 2011

/IRBIS, May 18, 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 18, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The news background before opening of trading on KASE develops positive. Some weakening of the dollar, the return of demand for metals and oil, as well as the growth of the major indexes in Asia will improve sentiment on the domestic market. Today share prices of mining companies are likely to increase, as the principal beneficiaries of the weak dollar and higher commodity prices. - Trading in Asia today is in positive territory after the Tokyo Electric Power Co. presented a new plan for cooling the reactor at Fukushima voiced earlier in the task of stabilizing the reactor until October 2011. The Chinese market is also growing on the data on the growth in housing prices. Shares of construction companies lead the market. Japan's Nikkei index today is growing by 0.7%, Chinese Hang Seng - by 0.5%, Shanghai - 0.7%. - Today, the strengthening of the euro continues to add 0.25% and is trading at 1.427 against the dollar. Asian investors are selling the U.S. currency against a background of statistics published yesterday in the U.S., where data on the construction sector disappointed investors. Number of permits issued for construction work and the number of bookmarks of new housing fell 4% and 10.6% respectively. The fact that market participants did not react to the statement of an influential representative of the EU that the script of "soft" debt restructuring Greece is possible, if the government will increasingly sell their assets, which cost about 50 billion euros, is interesting. Earlier, the EU and the IMF categorically denied the possibility of restructuring. In the U.S., meanwhile, is gaining momentum the problem is the limit of public debt. Congress and the U.S. government are not willing to accommodate each other. As a result, the Ministry on Finance announced it was suspending the issuance of debt securities ("debt issuance suspension period"), which will provide an opportunity to stretch the time before the August 2 decision to increase the limit. Today, market participants will assess the nature of the statements of the Fed's last meeting on protocol of FOMC. - On the commodity markets today, there is moderate growth of quotations of futures for oil and metals after a noticeable decrease in quotations in the last days fueled investor interest in commodities. Prices for Brent are currently increasing at 0.3%, copper futures in New York added 0.9%. Gold prices today are rising to 0.3% after a correction in prices, as well as signs of slowing economic growth and debt problems of the euro area have increased investor demand for the metal as a protective tool. 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 6.4 6.2 Sell -2.4 KAZKOMMERTSBANK KASE 451.0 452.0 Sell +0.2 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 9.3 13.6 Buy +46.2 HALYK BANK KASE 355.0 474.0 Buy +33.5 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 20.4 22.7 Hold +11 KAZKMUNAIGAZ KASE 18,050.0 20,062.0 Hold +11 BMB MUNAI AMEX 0.97 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,217.0 1,427.0 Buy +17 ENRC LSE 806.5 1,216.0 Buy +51 KAZAKHGOLD-GDR LSE 1.9 n/a Review n/a URANIUM ONE LSE 3.6 3.3 Hold -9 -------------------------- ---- -------- ------------ --------- ------- 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. Irbis Agency doesn't take responsibility for the opinions which are in given material. [2011-05-18]