Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 12, 2011

/IRBIS, July 12, 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 July 12, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Bearish dynamics of domestic stock exchanges today will continue. Lower prices for raw materials continue to put pressure on equity securities quotations of mining companies. A day earlier, KMG EP has managed to keep its position, but today the shares of the issuer are unlikely to cope with external pressures, taking into account the fact that the GDR the company fell by 3.2%. Additional losses can be fixed by the banks. KASE index may decline by more than 0.7%. - Asian indexes today are moving in sync to the south, falling more than 1%. The situation in the euro area continues to serve the main driver down. In addition, negative, associated with macro conditions in China, where inflationary pressures are still increasing, which increases the likelihood of further rate increases, which adversely affects the purchase of shares. Loss was observed in the financial sector in the region, as well as exporting companies. Japan's Nikkei and China's Shanghai down 1.40%, while Hong Kong's Hang Seng lost nearly 2%. - Today, the euro/dollar continues to move downward, losing 0.55% in early Asian session and fell to the level of 1.395. The record for the past decade rise in yields on 10-year bonds in Italy drags up and the interest of sovereign bonds in Spain. Euro falls in spite of assurances from European officials about the application of measures to stabilize the situation in the region. Again, the idea of redemption of bonds by the Central Bank of the problem, using the tools created in the last year of the stabilization fund. Also consider lowering interest rates on term loans the ECB. Meanwhile, Italy this year will have to pay about 175 billion euros of the total liabilities of 1.6 trillion euro - the third largest foreign debt after the U.S. and Japan. - Commodities market continues its movement to the south. Expectations of a possible decline in demand for raw materials in the major economies of the world against the backdrop of significant problems with debt and the rate of growth has led to active sales of oil and industrial metals. In the last part of the film and is connected with the fact that Chinese authorities plan to limit price increases in the property market by setting limits. This in turn will affect the status of construction companies that may reduce the number of new buildings. Copper in Shanghai today, losing more than 0.7%. Pressure on the red metal has slowing production in Indonesia and Chile, where strikes have hit companies such as Escondida, Codelco and Freeport- McMoRan. At the same time, Anglo American and Xstrata Plc continue to address the effects of recent storms, stopping some of the mines. Brent crude oil futures today are reduced more dramatically, by 0.45%, approaching the mark at $ 116/bbl. 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 5.2 6.2 Buy +19.2 KAZKOMMERTSBANK KASE 404.0 452.0 Hold +11.9 KAZKOMMERTSBANK -PREF KASE 188.0 226.0 Buy +20.2 HALYK BANK-GDR LSE 8.7 13.6 Buy +56.5 HALYK BANK KASE 325.0 474.0 Buy +45.8 HALYK BANK -PREF (HSBKP) KASE - 237.0 Buy n/a HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 499.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 20.0 22.7 Hold +13 KAZKMUNAIGAZ KASE 17,600.0 20,062.0 Hold +14 BMB MUNAI AMEX 0.98 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,321.0 1,427.0 Hold +8 ENRC LSE 767.0 1,216.0 Buy +59 KAZAKHGOLD-GDR LSE 3.6 n/a Review n/a URANIUM ONE LSE 2.8 3.3 Hold +18 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,600.0 33,825.0 Buy +73 STEPPE CEMENT LSE 41.0 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. [2011-07-12]