Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for June 21, 2011

/IRBIS. June 21, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for June 21, 2011. The analysts expect negative opening of trades amid ambiguous external background. During the day, according to forecasts of "BCC Invest" JCS, the activity of participants will be relatively low, and the dynamics of stock quotations movement well be predominantly negative - the prices on local market will strive for equality with prices in London, and KASE index will end the day with decrease. Analysts of JSC "BCC Invest" expect the following developments on international markets today: - June 20, 2011 Kazakhmys PLC announced that trading in shares of the company on the Hong Kong Stock Exchange will begin June 29, 2011 at 9:00 am (local time). Analysts of JSC "BCC Invest" believe that the news is neutral for the stock prices of Kazakhmys PLC. It was reported earlier that the company was not going to spend an additional issue of shares and the move is seen as a way to increase share liquidity, in fact, China is the main buyer of copper products manufacturer. JSC "BCC Invest" reaffirms its current recommendation to "buy" with target price of 16.31 pounds per share. - Tender for the purchase of retail business in Russia Barclays Plc is in "final stage", said a spokeswoman for the British bank in Moscow, Victoria Ponomareva. Barclays is studying the proposal, said Ponomarev, without revealing any details. "Kommersant" newspaper today reported that the most likely buyer is Kazakh Kazkommertsbank. Barclays in February announced the sale of LLC "Barclays Bank", which specializes in retail and commercial lending to focus on the development of investment business. Europe's biggest bank by market capitalization, HSBC Holdings Plc, said June 14 that it plans to sell its retail business in Russia, Citigroup Inc. Larissa Kokovinets, KKB representative in Astana, refused to comment on reports Kommersant. According to analysts of JSC "BCC Invest", the message is vague to stock quotes and GDRs of JSC "Kazkommertsbank", as there is uncertainty regarding the transaction, and in case of confirmation of the transaction. On a consolidated basis in accordance with RAS for 2010, Barclays Bank closed the period with a loss of $ 5.6 million net interest income before provisions amounted to $ 59.4 million, after the formation of provisions (Bank has identified the restoration of the retention money of $ 47.09 million) - $ 106.5 million analysts of JSC "BCC Invest" do not exclude the possibility of buying by Kazkommertsbank of retail division of Barclays in Russia, but still leave a recommendation "NEUTRAL" on the shares and GDRs of JSC "Kazkommertsbank". Analysts of JSC "BCC Invest" expect the following developments on international markets today: - In the coming days in Russia is expected the publication of data on disposable income, according to real wages, retail sales, unemployment rate and on investment in production capacity. - In the UK at 14:30 (AST) to be published data on public finance, and at 16:00 (AST) - an overview of trends from the CBI. At 15:00 (AST) ZEW will publish the index of sentiment in the business environment in Germany and the Eurozone, and the index of the current situation in Germany. - In U.S. at 20:00 (AST) to be published data on sales of existing homes. - Today the reports of Walgreen Co, Jefferies Group Inc, Carnival PLC and others will be heard Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: -------------------------------------------------------------- Closing Target Potential, Issuer Code price price % Recommen- dation ----------------- ------- -------- ------ ---------- --------- Kazkommertsbank KKGB 428 583 +36.21 Neutral KKGBp 188 196 +4.26 Neutral Halyk Bank HSBK 333 415 +24.62 Hold Bank CenterCredit CCBN 500 608 +21.60 Buy Tsesnabank TSBN 942.85 1,030 +9.24 Neutral EP KazMunaiGaz RDGZ 18,150 20,500 +12.95 Buy Kazakhmys PLC GB_KZMS 2,920 3,870 +32.53 Buy ENRC PLC GB_ENRC 1,845.75 2,550 +38.16 Buy Kazakhtelekom KZTK 19,550 Review KZTKp 9,400.01 9,300 -1.06 Hold MREK MREK 1,100 1,130 +2.73 Hold -------------------------------------------------------------- The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material. [2011-06-21]