Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 23, 2011

/IRBIS, May 23, 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 23, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today trades at KASE, will likely take place in a negative way on a fairly clear "bearish" signals from Europe and the USA. Reducing the cost of risky assets, the euro, metals and crude oil indicate reduced investors' optimism about future growth prospects of the stock market. Sales are possible for all members of the mining sector, as well as fundamentally weak stocks in other sectors. - Asian sites are now showing a significant decline amid Friday's news about the decline of the sovereign credit rating of Greece just three stops to the level of B + by agency Fitch, as well as a number of other news that cast doubt on the possibility of so- called "re-profiling" or "soft restructuring" of debts of the country. Pressure on the indices causes also investors escape from risky assets, underpinned by still weak and preliminary data on an index of business activity in China, indirectly talking about the negative impact of government measures to fight inflation on economic growth. Japan's Nikkei index now falls by 1.5%, Hong Kong and Shanghai index are down at nearly 2%. - Today, the euro / dollar continued its Friday decline. Debt problems of the Eurozone continue to influence the course, and the stream of negative news is growing like a snowball. Surprise to the market today was the decision by S & P to downgrade "forecast" rated A + of not significantly affected by debt problems Italy. The agency argues its decision to the presence of risk for the implementation of the government's plan to reduce debt load. Bad news today coming from Spain, where on the parliamentary elections, experts predict that a large number of votes can be won by the conservative People's Party. Plans of the Socialists to reduce the public debt may be in doubt. The course is being traded in the Asian session at 1.408 (-0.6% from the previous closing mark of the trading day). - The commodity markets also observe negative mood. Debt problems and rising U.S. dollar puts pressure on the oil quotations. Futures for Brent crude fell by 1%, WTI in electronic trading in New York - by 1.2%. Industrial metals are experiencing significant pressure. HSBC in China today published its evaluation index of business activity in the industry and found a decrease in May to its minimum value over the past 10 months. In Shanghai futures price for the supply of copper reduced by 0.5%, while in electronic trading in New York - by 1.6%. Demand for precious metals remains, apparently supported by debt problems the euro area as a result of which investors begin to look for defensive tools. 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 +51.4 HALYK BANK KASE 331.0 474.0 Buy +43.2 HALYK BANK -PREF (HSBKP) KASE 185.2 237.0 Buy +27.9 HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy n/a 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 0.96 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,249.0 1,427.0 Hold +14 ENRC LSE 837.5 1,216.0 Buy +45 KAZAKHGOLD-GDR LSE 2.1 n/a Review n/a URANIUM ONE LSE 3.7 3.3 Hold -10 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,200.0 33,825.0 Buy +76 STEPPE CEMENT LSE 41.5 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. [2011-05-23]