Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for June 20, 2011

/IRBIS, June 20, 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 20, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The domestic market, as well as foreign stock markets today is under pressure. The continuing decline in prices for oil and metals, speaking about the global fall in demand for risky assets, could lead to a fixation on the profits of domestic shares of commodity companies. Analysts of BTA Securities believe that in the face of declining commodity prices and stocks of commodity companies, domestic investors should consider investments in securities of non-oil sector, with strong fundamental characteristics, to which BTA Securities includes common shares of KazakhTelecom and Halyk. At current levels securities of these issuers are strongly undervalued. - Despite the modest increase in Japan and Hong Kong stock markets on optimism about what EU officials may still find a solution to debt problems of Greece, the overall situation does not inspire confidence in the stability of the "bullish" sentiment. The dollar strengthened today against the euro on lingering concerns about Greece, and oil prices fell for a second day. Shanghai index is down today by 0.9%, Hong Kong is gaining 0.25%, the Japanese Nikkei - 0.30%. - Today, the euro lost 0.5% and is trading at 1.424 dollars. European finance ministers after a meeting at the weekend announced that the final rescue plan for Greece will be ready in early July. However, this will only happen if the present government of the country will get the approval of the budget by Parliament before the end of this month. So far, the issue is more pessimism among investors, rather than the reverse. On Tuesday, Prime Minister of Greece will request a vote of confidence, which, according to most market participants, will be extremely difficult to obtain, which could lead to a complete change of government. Meanwhile, Moody's announced that the sovereign rating can reduce Italy's foreign and local currency against the background of structural problems in the economy, including high levels of public debt. - In commodity markets today no optimism can be visible. The oil market falls a second day on fears that the slowing economy and the problems of Greece will reduce the demand for "black gold". Oil in New York in electronic trading is getting cheaper by 1.1%, trading already at around $92; Brent crude oil lost 0.7% of the cost. Futures price for delivery in Shanghai copper falls 0.8% in New York in electronic trading there is an identical price dynamics of "red metal". 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 5.4 6.2 Sell +14.8 KAZKOMMERTSBANK KASE 428.0 452.0 Sell +5.6 KAZKOMMERTSBANK -PREF KASE 188.0 226.0 Sell +20.2 HALYK BANK-GDR LSE 9.0 13.6 Buy +51.1 HALYK BANK KASE 318.0 474.0 Buy +49.1 HALYK BANK -PREF (HSBKP) KASE 185.2 237.0 Buy +27.9 HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 500.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.9 22.7 Hold +8 KAZKMUNAIGAZ KASE 18,150.0 20,062.0 Hold +11 BMB MUNAI AMEX 0.98 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,261.0 1,427.0 Hold +13 ENRC LSE 716.0 1,216.0 Buy +70 KAZAKHGOLD-GDR LSE 3.2 n/a Review n/a URANIUM ONE LSE 2.9 3.3 Hold +14 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,550.0 33,825.0 Buy +73 STEPPE CEMENT LSE 40.0 n/a Review n/a ----------------------------------------------------------------------- This material has exclusively informative 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. [2011-06-20]