Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for May 26, 2011

/IRBIS, May 26, 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 26, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external background was positive for shares of domestic oil and metallurgical companies, thanks to higher prices for oil and industrial metals, observed the second day of a series on world markets. Will not remain without attention also the stocks of the banking sector, which fall under the general wave of purchases. - Asian indices, picked up the positive from the U.S., are now showing significant growth. Shanghai and HangSeng added 0.5% each, while the Japanese Nikkei is rising more than 1%. As in American markets, Asian investors today experience high demand for commodity stocks. Risk appetite has led to the depreciation of the yen, which favorably affected the quoted prices of Japanese exporters. - The euro / dollar made a u-turn in correctional wave upwards. Today, the euro adds more than 0.6%, trading at 1.417. Concerns about the restructuring of debts of Greek changed to some optimism after rumors that Asian investors, in particular China, will increase purchases of European bonds, sales of which will be held in June. Possible prolongation of debts of Greece on the voluntary basis has also been welcomed by the participants of the currency market. In parallel, investors are once again trying to switch to the difference in monetary policy of the Fed and the ECB. Today trading will be affected by big portion of macrostatistics from the U.S., in particular the final GDP data for the first quarter, consumer spending and changes in the labor market situation. - Bullish forecasts of leading investment banks in the Commodities prices have led to considerable activity in the commodity markets, which show a positive trend today. It is believed at Goldman Sachs that oil prices could rise by 20% to $ 130 from the current $ 115 per barrel. Unexpectedly sharp decline in stocks of diesel fuel in the U.S. also added a bullish mood on oil. Industrial metals continue to benefit from increased demand, particularly from rapidly developing economies of China and India. Copper in Shanghai today is going up by more than 1.5%. The spot price of gold meanwhile overcame the barrier of $1,530 per 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 +1.6 KAZKOMMERTSBANK KASE 442.0 452.0 Sell +2.3 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 8.9 13.6 Buy +53.7 HALYK BANK KASE 324.0 474.0 Buy +46.3 HALYK BANK -PREF (HSBKP) KASE 185.2 237.0 Buy +27.9 HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 518.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.0 22.7 Hold +13 KAZKMUNAIGAZ KASE 17,000.0 20,062.0 Hold +18 BMB MUNAI AMEX 0.95 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,256.0 1,427.0 Hold +14 ENRC LSE 832.0 1,216.0 Buy +46 KAZAKHGOLD-GDR LSE 2.2 n/a Review n/a URANIUM ONE LSE 3.7 3.3 Hold -10 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,300.0 33,825.0 Buy +75 STEPPE CEMENT LSE 39.0 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. [2011-05-26]