Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for June 8, 2011

/IRBIS, June 8, 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 June 8, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Negative auction in the U.S. and Asia, where there is reduced demand for risky assets, coupled with a decrease in quotations today, commodities (oil and metals) may adversely affect the shares of mining companies, focused largely on exports. Sales are likely to take place and the issuers of the banking sector, closed yesterday at international venues in the red zone. Decision of KazakhTelecom to send 17.5% of net profits for dividends will be welcomed by the market, in connection with which may rise in equity securities of the company at more than 0.5%. - Exodus from risky assets is observed in almost all Asian stock markets. The main negative associated with yesterday's statement was Fed chairman for further monetary policy in the U.S. Nikkei index is losing 0.2% in response to a strengthening of the yen due to the expected slowdown in the global economy. According to some rumors, the Japanese government plans to suspend all nuclear reactors in the country, which led to a sharp drop in shares of energy companies. Shanghai and Hang Seng today are down by 0.34% and 0.93%, picking up the pessimistic sentiment from the U.S. - Reaching monthly high on the previous day, today, the euro/dollar declines by 0.2% and is trading at 1.4662. The approaching completion of the second program of redemption of bonds and virtually zero probability QE3 provides little support the U.S. currency. Despite the weak dynamics of the U.S. economy in the first quarter, the Fed expects improvement in the second half of this year, in connection with which sees no need for another round of QE against accumulated enough liquidity in the economy. There is a lull in the news background for the development of the situation with debt problems in the Eurozone and Greece. - Quotes of commodities today are moving to the south, which is due to the strengthening U.S. dollar and the pessimistic forecasts of lower demand for raw materials. Brent crude oil futures price is reduced by 0.77%, trading below $ 115.9 per barrel. Today, OPEC will decide to change the quotas for oil production. Representatives of the Persian Gulf said that the quota for the first time since 2008, will be increased to compensate for fuel supplies from Libya and to meet the projected increase in world demand. Some experts believe that the quota will increase by about 1.5 million barrels per day. Meanwhile, prices for copper and gold are reduced by 0.6% and 0.2% 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 5.7 6.2 Sell +8.8 KAZKOMMERTSBANK KASE 435.0 452.0 Sell +3.9 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 8.8 13.6 Buy +54.5 HALYK BANK KASE 320.0 474.0 Buy +48.1 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 21.5 22.7 Hold +5 KAZKMUNAIGAZ KASE 18,400.0 20,062.0 Hold +9 BMB MUNAI AMEX 0.97 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,271.0 1,427.0 Hold +12 ENRC LSE 819.5 1,216.0 Buy +48 KAZAKHGOLD-GDR LSE 2.6 n/a Review n/a URANIUM ONE LSE 3.3 3.3 Hold 0 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,570.0 33,825.0 Buy +73 STEPPE CEMENT LSE 37.3 n/a Review n/a ----------------------------------------------------------------------- This 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 present material. [2011-06-08]