Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 24, 2011

/IRBIS, May 24, 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 24, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today trading on KASE will probably become more restrained with regard to sales, investors will wait for the opening of trading in Europe and the actions of foreign investors in respect of the shares of commodity companies. - In the Asian session today, there are mixed feelings. In Shanghai, investors continue to dispose of shares, dropping quotes of Shanghai Composite Index by 0.6% even after a massive "sell-off" yesterday. Investors are under negative impression of the data on business activity in manufacturing, which may reveal the influence of the current tighter monetary policy. Pressure on the market also was exerted by data on the U.S. Chicago PMI, which in April had gone into negative territory, indicating a slowing of economic growth. Japan's Nikkei index today has virtually unchanged compared to yesterday's close, the Hong Kong index increases by only 0.11%. - Today, the euro / dollar is rising, but on very weak rate. Euro tries to win back the lost position with the support of the statement made by the Fed Bullard about what the controller after the completion of the second program of quantitative easing would hold its key interest rate at a minimal level until full confidence in the sustainability of economic growth. Debt problems of the eurozone have not gone away and continue to exert pressure on the course. In addition, the disappointing statistics for the euro area have seen the light. Yesterday there were the weak data on economic activity, and today, as economists predict, data on industrial orders show their decline in April by 1.1%, for the first time in the past six months. - The commodity markets have been showing slurred dynamics, falling without strong support for a bounce. Futures for Brent crude are rising in the correction by 0.6%. Pressure was experienced by industrial metals on expectations of weak data on euro area industrial new orders. In Shanghai futures price for the supply of copper are reduced by 0.05%. Demand for precious metals remains with the support of the debt problems of the eurozone, as a result of which investors began to look for defensive tools. Gold is trading at around $1,518 an ounce. 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 6.1 6.2 Sell +2.5 KAZKOMMERTSBANK KASE 442.0 452.0 Sell +2.3 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 8.8 13.6 Buy +54.5 HALYK BANK KASE 320.8 474.0 Buy +47.8 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 500.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.5 22.7 Hold +16 KAZKMUNAIGAZ KASE 17,000.0 20,062.0 Hold +18 BMB MUNAI AMEX 0.97 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,207.0 1,427.0 Buy +18 ENRC LSE 815.5 1,216.0 Buy +49 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. [2011-05-24]