Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for June 23, 2011

/IRBIS, June 23, 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 23, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Yesterday's speech by Fed and the subsequent strengthening of the dollar today can be a signal to fix the position on the shares of commodity companies in the domestic market. Yesterday's auction results for shares of the banking sector also talk about the uncertainty of players in their outlook Therefore, KASE index tends to further reduction. - Reduced forecasts of Bernanke on GDP growth and employment in 2011 and 2012 as well as increasing inflationary pressures are now putting pressure on Asian stock market. Cemented negative news background information on the HSBC index of business activity in industry in China. The bank said that in June, the index fell to 11-month low to a point close to 50 points, signifying no growth. Economists bank of bank note certain weakening demand due to monetary tightening and the worsening situation on foreign markets. Indices Hang-Seng and Nikkei are down by 0.7% and 0.3% respectively, under the pressure of falling commodity prices and shares of mining companies. - Today, the euro decreased by 0.35%, coming close to the mark of 1.43. Overall, yesterday's speech Fed Chairman took no surprises. All statements coincided with the expectations of market participants, the only exception of reduction in the forecast for growth in the U.S. economy. In this regard, investors decided to revisit the problems of Greece. Today kicks off a two- day summit of European leaders, the main theme of which will provide additional assistance to Greece and, in general stabilization of the debt market in the region. The agenda of the meeting will be decided and the question concerning the participation of private bondholders in the rescue of the country. However, while all the decisions rest on the difficulty of pushing through the budget, opposed by the opposition forces and the majority of the population of Greece. In the U.S., will published data on initial applications for unemployment benefits, of which, according to experts, will be 415 th. Also is expected decline in sales of new homes by 4% in May compared to growth of 7.3% a month earlier. - Commodity market today shows a negative trend after a speech by Fed Chairman Ben Bernanke, increasing investors' concerns about growth prospects and demand. Data on the PMI Manufacturing from China also cooled investors' demand even at current price levels. Crude futures WTI oil down today by 1.3% and traded at $ 94.2 per barrel. European oil drops in price by 0.4%. With a small decrease in quotations copper is trading today in Shanghai (-0.4%), in New York City loss is more significant (-0.9%). Gold compared to yesterday's closing has virtually unchanged in value. 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 5.3 6.2 Sell +17.0 KAZKOMMERTSBANK KASE 404.5 452.0 Sell +11.7 KAZKOMMERTSBANK -PREF KASE 188.0 226.0 Sell +20.2 HALYK BANK-GDR LSE 8.9 13.6 Buy +52.8 HALYK BANK KASE 330.0 474.0 Buy +43.6 HALYK BANK -PREF (HSBKP) KASE - 237.0 Buy n/a HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 490.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.9 22.7 Hold +8 KAZKMUNAIGAZ KASE 18,100.0 20,062.0 Hold +11 BMB MUNAI AMEX 1.00 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,300.0 1,427.0 Hold +10 ENRC LSE 732.5 1,216.0 Buy +66 KAZAKHGOLD-GDR LSE 3.5 n/a Review n/a URANIUM ONE LSE 2.8 3.3 Buy +17 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,600.0 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. [2011-06-23]