Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 14, 2011

/IRBIS, July 14, 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 14, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today on the domestic market low activity is likely. Rally in overseas markets yesterday halted. In the commodity markets slurred dynamics is observed that are not in favor of domestic stocks of raw materials producers. - Today at the auctions in Asia traders are experiencing the negative sentiment. Against the background of the continuing uncertainty with regard to the debt problems of the eurozone, investors today record profits after strong recovery of indices on the eve. There is only excuse - the United States risks of default, on which yesterday started talking agency Moody's, apparently in an effort to encourage Republicans and Democrats to address the issue of raising the debt of the country bar. Shanghai index today adds only 0.1%, while the Hang Seng and the Japanese Nikkei are losing 0.7%. - Today inability of U.S. leading parties to come to any consensus on the national debt limit and to further Washington's fiscal policy has resulted in that rating agency Moody's credit rating has sent the U.S. to a review, noting the possibility of downgrading by one notch to AA. This news led to further growth in the euro / dollar, which adds 0.33% and traded at 1.4214 in the Asian session. Meanwhile, some experts doubt that the Fed will take any additional incentives, saying only a word-play in yesterday's speech, Ben Bernanke. Supported the Fed the Dallas President Fisher, stating that in QE3 at the moment there is no need in view of high liquidity in U.S. banks, more than $ 1.5 trillion. Today further momentum of trading will be determined by the statistical data on the U.S. labor market and the volume of retail sales in June. - The raw materials market today experience slurred dynamics. Oil prices: Brent crude added only 0.15% on a temporary lull in the debt front, the Eurozone and surprisingly positive data on U.S. Department of Energy on oil and petroleum products. Copper futures in Shanghai are down by 0.4%, while in New York in electronic trading - 0.1%. Optimism about the prospects for growth in metal prices apparently dried up in the negative on the U.S. The spot gold price today does not want to be corrected after 1.5% rise the previous day, concerns about the U.S. and the Eurozone support investors' demand for safe haven. 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 +19.9 KAZKOMMERTSBANK KASE 401.3 452.0 Hold +12.6 KAZKOMMERTSBANK -PREF KASE 188.0 226.0 Buy +20.2 HALYK BANK-GDR LSE 8.6 13.6 Buy +58.1 HALYK BANK KASE 329.0 474.0 Buy +44.1 HALYK BANK -PREF (HSBKP) KASE - 237.0 Buy n/a HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 500.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.8 22.7 Hold +15 KAZKMUNAIGAZ KASE 17,600.0 20,062.0 Hold +14 BMB MUNAI AMEX 0.96 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,365.0 1,427.0 Hold +5 ENRC LSE 784.5 1,216.0 Buy +55 KAZAKHGOLD-GDR LSE 3.5 n/a Review n/a URANIUM ONE LSE 3.0 3.3 Hold +12 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,600.0 33,825.0 Buy +73 STEPPE CEMENT LSE 40.8 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. [2011-07-14]