The review of key events from "Asyl-Invest" JCS analysts for June 24, 2011

/IRBIS, June 24, 2011/ - "ASYL-INVEST" JCS (Almaty) has provided IRBIS with the review of main events and its investment ideas and forecast for June 24, 2011 Trading on the Kazakhstan stock market on Thursday resulted in the growth. KASE index increased by 0.51% to 1558.03 points. Day was completed with increase by stocks of Kazakhmys (+3.3%). Activity of market participants was relatively low. Trading volume on the shares of KASE index on Thursday was 13.5 million tenge. Trading in shares and depositary receipts of Kazakhstan issuers on the London Stock Exchange on Thursday ended with mixed trends. The greatest losses to the trading results suffered securities of commodity companies: GDR of KMG (-5.3%), shares of ENRC (-5.05%), Kazakhmys shares (-3.8%), shares of Kazakhgold (-0.9%). GDR of banks finished trading in different directions. NSBK GDR decreased by 1.1%, KKB GDR rose by 2.8%. Despite the sharp drop in shares of commodity companies, the analysts of "Asyl INVEST" believe that in today's trading, market participants will refrain from aggressive selling. Analysts, however, the "Asyl Invest" recommends to record gains/losses on shares of Kazakhmys, ENRC and KMG EP up on the rebound. European stocks today are likely to grow. In general, analysts of "Asyl INVEST" see a long decline of markets and recommend refraining from opening long positions. In addition, analysts of ASYL INVEST note the following events on world markets: - Major U.S. stock indexes fell sharply at the opening of session on Thursday because of concerns of market participants about the economic recovery. DJIA Dow Jones fell to the lowest session at 11,875.32 points (-1.94%), the index of wide market S & P 500 - to the level of 1262.87 points (-1.89%), high- technology index NASDAQ Composite - to 2,627.47 points (- 1.56%). Negative impact on the indexes at the opening session of the U.S. Federal Reserve had forecast on the economy in 2011 and data from the labor market. The number of initial claims for unemployment benefit for the week ended June 18, seasonally adjusted increased by 9 thousand as compared to the previous week and was 429 thousand Economists forecast cut to 415 thousand four-week average index has not changed in comparison with the previous week and was 426.25 thousand stock indexes managed to stabilize during the session and began to grow closer to the closing of the auction. Growth in the closing took place thanks to the news that the Greek authorities approve additional austerity measures. - In general, the activity of market participants in the stock trading on Thursday was relatively high. The trading volume on the NYSE was 1117.47 million shares and turnover - $ 32.2 billion - In the focus of the market today will be data on orders for durable goods in May. Also today, there are data on changes in the volume of U.S. GDP in the first quarter, on the third estimate. - The main stock indexes of Western Europe finished the session in fall on Thursday due to lower forecast on U.S. growth of the U.S. Federal Reserve, but also because of disappointing data published in the eurozone PMI index for June. Analysts of "Asyl INVEST" expect growth of indices in Western Europe at the opening of trading today on news that the Greek Government has approved additional cost-saving measures in order to obtain a new loan tranche from the IMF and the EU. Market participants will also focus today on the opening of trading in the U.S. - Major Asian stock indexes are now showing growth. Oil prices are now rising, the U.S. dollar is growing. August futures for WTI crude oil today added 1.3%, August futures for petroleum of mark Brent - 1.1%. Gold rises in price today by 0.1%, silver - 0.7%. The U.S. dollar is growing by 0.1% against a basket of currencies. The euro/dollar is rising by 0.05%. 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 [2011-06-24]