Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 20, 2011

/IRBIS, May 20, 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 20, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today trades at KASE, probably will be under pressure from the negative outcomes of trades on commodity markets yesterday. Reducing the cost of aluminum, copper and crude oil will put pressure on the paper producing companies. Sales are possible for representatives of the banking sector, in particular, the BCC's shares, which yesterday issued weak financial results for the first quarter of 2011. - Asian sites are now showing weak growth dynamics of the major indexes. Hang-Seng is growing at 0.11% and Shanghai adds only 0.07%. Rising prices for industrial metals and oil prices are supporting stocks of commodity companies. Japan's Nikkei index increased by 0.3%, supported by a weakening yen. In the early days the Central Bank of Japan announced that it has kept interest rates unchanged at low levels since uncertainty about the economic effect March disasters. The optimism of Asian investors is constrained by U.S. data on the reduction of industrial activity in several states. - Today, the euro/dollar is traded at previous day's closure. European currency at the moment is supported by the absence of any significant news from the eurozone, which allowed to break the mark of 1.43. However, as has happened previously, investors probably decided to buy the euro to a level where it will be possible to fix the profit. Then, the attention will be returned to debt problems of the region, not disappearing anywhere. The construction sector and real estate market continues to stagnate, as evidenced by this week data. Number of permits to start new construction declined by 4%, the number of fundaments of new buildings has fallen by more than 10%, while sales of second homes declined by 0.8%. Today, market participants can again act out the theme of increased interest rates of the ECB, which will contribute to the projected acceleration of growth in the wholesale prices of 0.6% in April. - The commodity market is experiencing mixed feelings. Reducing the U.S. dollar supported the rising cost of commodities. Quotations of Brent crude added 0.15%, WTI - 0.5% amid expectations of market participants regarding the increased demand for fuel from the largest consumer - the United States. However diverse American statistics do not accurately determine the further progress of quotations. Pressure is put on industrial metals. In Shanghai futures price for the supply of copper is reduced by 0.4%. Demand for precious metals remains high: the gold and silver rise in price by 0.2% and 0.5% per troy ounce respectively. 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 464.0 452.0 Sell -2.8 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 9.0 13.6 Buy +51.1 HALYK BANK KASE 331.0 474.0 Buy +43.2 HALYK BANK -PREF (HSBKP) KASE 168.4 237.0 Buy +40.7 HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy n/a BANK-CENTER-CREDIT KASE 510.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.9 22.7 Hold +9 KAZKMUNAIGAZ KASE 18,050.0 20,062.0 Hold +11 BMB MUNAI AMEX 0.95 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,237.0 1,427.0 Buy +15 ENRC LSE 845.5 1,216.0 Buy +44 KAZAKHGOLD-GDR LSE 2.1 n/a Review n/a URANIUM ONE LSE 3.7 3.3 Hold -11 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,200.0 33,825.0 Buy +76 STEPPE CEMENT LSE 42.5 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. [2011-05-20]