The review of key events from "Asyl-Invest" JCS analysts for June 23, 2011

/IRBIS, June 23, 2011/ - "ASYL-INVEST" JCS (Almaty) has provided IRBIS with the review of main events and its investment ideas and forecast for June 23, 2011 Trading on the Kazakhstan stock market ended with decrease on Wednesday. KASE index decreased by 0.18% to 1,550.12 points. With increase day was completed for stocks of Kazakhmys (+2.7%), decrease - the shares of BCC (-2%), KKB (-1.7%) and NSBK (-0.9%). Activity of market participants was relatively low. Trading volume on the shares of KASE index on Wednesday was 15.9 million tenge. Trading in shares and depositary receipts of Kazakhstan issuers on the London Stock Exchange on Wednesday ended with mixed trends. Stocks of Kazakhmys rose 0.15%, ENRC shares fell by 1.5%. KMG GDR rose by 0.2%, GDR of Zhaikmunay fell by 1.9%, GDR of Kazakhgold fell by 2.3%. KKB GDR rose by 0.95%, GDR of NSBK decreased by 0.6%. Today, the external background for the Kazakh stock market is composed as moderately negative. Analysts of "Asyl INVEST" expect decrease of KASE index by the end of trading. In addition, analysts of ASYL INVEST note the following events on world markets: - For most of the session on Wednesday the major U.S. stock indexes were trading near the neutral line, but closer to the end of the auctions have fallen sharply after the publication of economic forecasts for the U.S. Federal Reserve 2011-2013 and speeches by Fed USA Ben Bernanke at a news conference after a two-day meeting of the U.S. Federal Reserve. As expected, the Fed has kept benchmark interest rate from 0% -0.25%, and still plans to complete the program QE2 to end of this month. But we should not take this step as a tightening of policy since the Fed will continue to reinvest funds received from repayment of the balance of the securities the Fed. In addition, the Fed retains the wording "for a long time." Stock indices dropped sharply just after the speech of Fed ended - during his speech there was a downward movement. What are negative, so that's what the U.S. Federal Reserve lowered the forecast of economic growth. According to new estimates the U.S. economy will grow in 2011 to 2.7% -2.9% rather than the April forecast of 3.1% -3.3%. Moreover, unemployment in the U.S. in 2011 is projected at 8.6% -8.9%, while April's forecast assumes a level of 8.4% - 8.7%. Core inflation is projected at 1.5% -1.8% instead of the forecast at 1.3% -1.6% made in April. In general, the activity of market participants in the stock trading on Wednesday was relatively high. The trading volume on the NYSE totaled 856.36 million shares, while turnover - $ 24.2 billion - In the focus of the market today will be data on the number of initial claims for unemployment benefit for the week ending June 18. Also today, will be published sales data on the primary housing market in May. In general, analysts of "Asyl INVEST" expect major stock indexes to decrease on the results of today's trading. - The main stock indexes of Western Europe finished the Wednesday session with a slight decrease, as investors were awaiting the outcome of a two-day meeting of the U.S. Federal Reserve. In addition, market participants monitored the news headlines regarding Greece. Analysts of "Asyl INVEST" expect the major indexes in Western Europe to fall at the opening of trading, as markets have to play yesterday's drop in U.S. indices to the close of trading. Of economic statistics today are data on the manufacturing PMI index for the eurozone in June, data on the PMI index of business activity in the euro area services sector in June. - Major Asian stock indexes today are traded in different directions. Oil prices are now falling, the U.S. dollar is growing. August futures for WTI crude oil today are losing 1.1%, August futures for petroleum of mark Brent - 0.9%. Gold today is getting cheaper by 0.1%, silver - 1.2%. The U.S. dollar is growing at 0.1% against a basket of currencies. The euro/dollar declines by 0.4%. 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 this material [2011-06-23]