Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for June 9, 2011

/IRBIS, June 9, 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 9, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today favorable news background was formed for the shares of KMG EP, which can grow in value in response to a rise in crude oil. Negative trend of quotations should be expected on shares of metallurgical companies in connection with the reduction in the value of industrial metals. Stocks of Kazkom can continue to grow, but caution should be exercised when purchasing shares of populist, for which is excluded the possibility of a small lock in profits. - Asian indices were down early in the day, but by mid trading session, the Japanese Nikkei was able to move into the green zone (0.14%), despite the strengthening of the yen. Economic recession in Japan on the revised data has remained at 0.9% in 1 quarter, an annualized decline in GDP was 3.5%. The Shanghai and Hang Seng are losing more than 1% in response to investors' concerns about a slowdown in the U.S. and global economy. The greatest losses today suffer technology companies. - Today, the euro / dollar is growing by 0.3% and is trading at 1.4627. Euro strengthened, despite the contradictions between Germany (and the countries of northern Europe) and European Central Bank (supported by France) on the issue of participation of private investors in solving problems in Greece. The central bank supports the voluntary decision of investors to invest in new bonds, which will suit the maturity of old shares. Germany, in turn, wants the private sector to take a greater role, sharing the loss with other creditors. However, rating agencies have warned that such a course of events that cause them to Greece to declare default. Meanwhile, the continuing development of additional aid package, size of which can reach 100 billion euros: 40 billion of the EU and IMF loans, 30 billion from the sale of state assets and 30 billion euros from a voluntary extension of the maturity of private investors. Support for the euro was provided by market participants' expectations that the ECB President today, keeping rates at 1.25%, will note risks of accelerating inflation in the eurozone. - Commodities market situation has not changed. Continued growth of quotations of crude oil due to the fact that OPEC kept production quotas of raw materials, failing to come to a common consensus. Yesterday's meeting showed that Saudi Arabia is losing its influence in the organization. Meanwhile, countries such as Iran and Venezuela have motivated his decision to oppose the proposed increase in production, since it may lead to a drastic reduction in the uncontrolled price of oil. Brent is growing at 0.35% and traded at $ 117.9 per barrel. Gold and copper show a slight decrease. 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 5.6 6.2 Sell +10.1 KAZKOMMERTSBANK KASE 438.7 452.0 Sell +3.0 KAZKOMMERTSBANK -PREF KASE 198.0 226.0 Sell +14.1 HALYK BANK-GDR LSE 8.9 13.6 Buy +52.9 HALYK BANK KASE 335.2 474.0 Buy +41.4 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 518.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 21.4 22.7 Hold +6 KAZKMUNAIGAZ KASE 18,600.0 20,062.0 Hold +8 BMB MUNAI AMEX 0.96 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,229.0 1,427.0 Hold +16 ENRC LSE 803.0 1,216.0 Buy +51 KAZAKHGOLD-GDR LSE 2.7 n/a Review n/a URANIUM ONE LSE 3.1 3.3 Hold +7 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,570.0 33,825.0 Buy +73 STEPPE CEMENT LSE 38.3 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. [2011-06-09]