Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for July 21, 2011

/IRBIS. July 21, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for July 21, 2011. The analysts expect positive opening of trades on KASE amid growth of stocks and depository receipts in London the day before. During the day, according to the forecasts, the dynamics of stocks included into KASE index, will remain mixed and multidimensional, and KASE index will end the day with moderate increase. Analysts of JSC "BCC Invest" expect the following developments on Kazakhstani market today: - Ministry of Finance of Kazakhstan placed on KASE July 20 19.1 million of MEUKAM-144 of the fourth edition of 4.97% per annum. July 20, 2011 in the trade system of KASE was held specialized auction on placement of long-term treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEUKAM-144 of 4 issue with the maturity of 12 years (4,320 days) and a frequency of coupon payment every year. In the total of active orders, the proportion of pension market had 23.6%, the share of Kazakhstan commercial banks (STB) - 26.1%, clients of STB - 31.5%, broker-dealers - 2.7%, their customers - 16.0%. According to the JSC "Central Securities Depository" all transactions by placing MEUKAM-144 fourth edition by the end of calculations based on trades executed. 11.4% of the total outstanding bonds were purchased by pension market subjects, 23.9% - STB, 61.8% - STB clients, 1.6% - by broker-dealer companies, 1.4% - clients of broker- dealers. According to the JSC "BCC Invest", cut-off rate at the auction corresponds to the expectations of market participants, and the excess volume of placement on the plan indicates the excess liquidity in the market. Analysts of JSC "BCC Invest" expect the following developments on international markets today: - Russia is expected to publish data for fiscal balances and international reserves. - in France at 13:00 (AST) and in Germany at 13:30 (AST) to be published data on the manufacturing PMI index and the index in the service sector PMI. At 14:00 (AST) to be published data on the Eurozone composite index PMI, on the production index, PMI, PMI index in the services sector, on balance the current balance and current account balance of payments ECB. At 14:30 (AST) in the UK to be published data on public finance and retail sales. - in U.S. at 18:30 (AST) to be published data on initial and repeat applications for unemployment benefits, at 19:45 (AST) - the indices of consumer comfort and economic expectations from Bloomberg. At 20:00 (AST) will be published data on the index of housing prices, according to a leading indicator and the index of business activity the Federal Reserve Bank of Philadelphia. - Today will be reporting MMC Norilsk Nickel OJSC, Telefonaktiebolaget LM Ericsson, Microsoft Corp, AT & T Inc, Roche Holding AG, Philip Morris International Inc, PepsiCo Inc, Freeport-McMoRan Copper & Gold Inc, Union Pacific Corp, ABB Ltd, Eli Lilly & Co, Morgan Stanley, Danaher Corp, Baxter International Inc, Iberdrola SA, Medco Health Solutions 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 390.55 545 +39.55 Hold KKGBp 188 168 -10.64 Neutral Halyk Bank HSBK 315 415 +31.75 Hold Bank CenterCredit CCBN 490 608 +24.08 Buy Tsesnabank TSBN 942.85 1,030 +9.24 Neutral KazMunaiGaz RDGZ 17,150 20,500 +19.53 Buy Kazakhmys PLC GB_KZMS 3,160 3,500 +10.76 Hold ENRC PLC GB_ENRC 1,850 2,200 +18.92 Buy Kazakhtelekom KZTK 19,500 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. [2011-07-21]