Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for July 14, 2011

/IRBIS. July 14, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for July 14, 2011. The analysts expect positive opening of trades amid increase of stocks and depository shares of Kazakhstani issuers in London the day before. During the day, on the forecast, the dynamics of quotations of most stocks included into KASE index will be positive, and KASE index will end the day with increase. Analysts of JSC "BCC Invest" expect the following developments on Kazakhstani market today: - Ministry of Finance of Kazakhstan placed on KASE 11.0 million July 13 MEOKAM-60 Release 39 under 3.80% per annum. July 13, 2011 in the trade system of KASE was held specialized auction on placement of government treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEOKAM-60 issue 39. In the total of active orders, the proportion of pension market had 17.9%, the share of Kazakhstan commercial banks (STB) - 51.1%, clients of STB - 25.4%, broker-dealers - 4.3%, their clients - 1.3%. According to the JSC "Central Securities Depository" all transactions on placing MEOKAM-60 output 39 to the end of the trading results of the calculations performed. 9.1% of the total outstanding bonds were purchased by pension market subjects, 34.3% - STB, 56.4% - STB clients, 0.2% - clients of broker-dealers. According to analysts of JSC "BCC Invest", the results of the auction coincided with expectations of market participants. - JSC "Exploration Production "KazMunaiGas" reported on the situation regarding the illegal protest action, which takes place in the production branch "Ozenmunaygaz" (OMG) in Zhanaozen (Mangystau region). At the present time the day shift does not exceed 1,225 employees of OMG. Reducing the number of employees due to the fact that on Saturday refused to go to work, some employees of motor units. They have formally requested the leadership of the Company and the authorities of Zhanaozen offering finally deal with the situation: either to satisfy the demands of protesters in the event of their validity or to stop protest in accordance with the law. In addition, there were concerns for the safety of those who goes to work, as well as their families. Pursuant to court decisions law enforcement agencies have taken the necessary measures to restore order. Currently, the Company shall take all necessary measures to restore normal operation of OMG. Outreach is underway, organized by the delivery of work teams to the field to alternative transport, a result of the retraining of drivers of lifts increased number of units of machinery involved in the underground repair of wells. KMG EP is going by September 2011 to restore the daily production, reaching a level of 25 May (before the rally). The main condition is to restore as soon as possible a normal number of OMG staff after the protesters or as a result of their dismissal and acceptance in their place new employees from among the inhabitants of the region. The Company is currently exploring the application fileds for a job in the OMG. Analysts of JCS "BCC Invest" think the message will have no impact on share prices and depositary receipts of JSC "Exploration Production "KazMunaiGas", since it corresponds to the expectations of market participants. "BCC Invest" analysts are expecting the following events on international markets today: - Russia is expected to publish data for fiscal balances and international reserves; - at 14:00 (AST) European Central Bank will publish a monthly report for July, and in Italy to be published data on the consumer price index. At 15:00 (AST) to be published data on euro area consumer price index. - in U.S. at 18:30 (AST) to be published data on producer price index, retail sales, and for primary and re-apply for unemployment benefits. At 19:45 (AST) will be published index of consumer comfort from Bloomberg, and at 20:00 (AST) - for commodity stocks. - today the following companies are reporting: Coal India Ltd, MMC Norilsk Nickel OJSC, Google Inc, and others. 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 401.25 545 +35.83 Hold KKGBp 188 168 -10.64 Neutral Halyk Bank HSBK 329 415 +26.14 Hold Bank CenterCredit CCBN 500 608 +21.60 Buy Tsesnabank TSBN 942.85 1,030 +9.24 Neutral KazMunaiGaz RDGZ 17,600 20,500 +16.48 Buy Kazakhmys PLC GB_KZMS 3,150 3,500 +1111 Hold ENRC PLC GB_ENRC 1,849 2,200 +18.98 Buy Kazakhtelekom KZTK 19,600 Review KZTKp 9,210 9,300 +0.98 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. [2011-07-14]