Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for June 27, 2011

/IRBIS. June 27, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for June 27, 2011. The analysts expect negative opening of trading on KASE on ambiguous external background. During the day, following the forecast, the activity of market participants will remain low, but a part of morning losses will be able to play off, but KASE index will finish the day on negative territory. "BCC Invest" JCS notes the following significant events on Kazakhstani market: - June 27, 2011 at KASE are completed regular specialist auctions for preferred shares of (RDGZp) JCS " KazMunaiGas". From 27 May to 27 June 2011 in the trade system of KASE held ten specialized auctions for preferred shares KZ1P51460114, KZ000A0RMTC3 ( official list of KASE, the third category, RDGZp of JCS "KazMunaiGas" (Astana). As previously reported, KMG JCS approved the repurchase program of its preferred shares, to be held by an organization separate consecutive series of thirty specialized trades at KASE under the existing rules of the exchange. The program is scheduled to be completed by December 31, 2011. In the first nine prior trading (09, 10 March, 11 March - 09 April 30 April - 28 May, 01-30 July, 01-30 September, 01-30 November 2010, 05-31 January, 04 April - 4 May 2011 ) buyer purchased 1,778,815 preferred shares totaling $ 32,788,926,640.44 tenge (equivalent to 224,735,617.82 U.S. dollar on exchange rate of May 10, 2011 - the date of execution of transactions concluded at the last auction), which is 43.0% of the total amount planned to buy back shares. According to the forecasts of JSC "BCC Invest", cut-off price at the auction was formed in the range 17,690 - 17,860 tenge per share. - In Aktobe Ferroalloy Plant (Aktobe region of Kazakhstan, in the center) was the fire, there are no victims and casualties, reported Sunday the MES. According to authorities, a fire broke out between the melting shops N1 and N2 - burn high- voltage cable in the tunnel. Fire broke out at 17:05 (AST) on Saturday and three hours later was extinguished. Its total area was 200 square meters. In fire suppression has been involved 60 personnel and 9 units of equipment of the regional fire service emergency department. The report did not indicate whether the fire affected the manufacturing process. Aktobe Ferroalloy Plant is one of the enterprises of "Kazchrome". This message is a negative for the company, but analysts of JSC "BCC Invest" do not expect a significant impact on stock prices of ENRC PLC, which includes the Aktobe Ferroalloy Plant. Basically, what happened should not have a PE of a strong negative impact on operating results for the production of ferro-alloys plant, thanks to rapid intervention rescue of DESM, however, analysts of JSC "BCC Invest" will expect the message about the incident from the management. JSC "BCC Invest" leaves the current recommendation to "buy" with target price of 10.80 pounds per share. Analysts of JSC "BCC Invest" expect the following developments on international markets today: - In the coming days in Russia is expected to publish data on the fiscal balance. - in Italy at 14:00 (AST) to be published data on wages. In the coming days UK is expected to publish data on house prices. - U.S. at 18:30 (AST) to be published data on personal income, spending, the baseline index of consumer spending, and at 20:00 (AST) - an index of manufacturing activity from Dallas Fed. 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 404.50 583 +44.13 Neutral KKGBp 188 196 +4.26 Neutral Halyk Bank HSBK 327 415 +26.91 Hold Bank CenterCredit CCBN 490 608 +24.08 Buy Tsesnabank TSBN 942.85 1,030 +9.24 Neutral EP KazMunaiGaz RDGZ 17,600 20,500 +16.48 Buy Kazakhmys PLC GB_KZMS 3,099.99 3,870 +24.84 Buy ENRC PLC GB_ENRC 1,799 2,550 +41.75 Buy Kazakhtelekom KZTK 19,950 Review KZTKp 9,540 9,300 -2.52 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. [2011-06-27]