Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for July 22, 2011
22.07.11 15:00
/IRBIS. July 22, 2011/ - BCC Invest JSC has provided IRBIS with a
survey of main events, market reviews and investment ideas for July
22, 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:
- Construction work on the project of Eurasian Natural
Resources Corporation (ENRC) creation of anode
production in Pavlodar region (north Kazakhstan) has been
completed by 60%, has informed agency "Interfax-
Kazakhstan", President of JSC "Kazakhstan smelter" (KAS)
Almaz Ibragimov. According to him, at the present time the
company started the anode furnace lining, which is
scheduled for completion by the end of October this year. It
was reported that this project is based on the KAS.
Equipment for anode production was commissioned by
European enterprises and Buss Riedhammer. Power plant
for the production of baked anodes is worth about $ 250
million, with the amount of production of 150 thousand tons
per year. To complete its construction in 2012. With the
launch of the production there will be no need to buy raw
materials abroad. To produce 1 ton of aluminum 500 kg of
anodes is required. Raw materials for the anode plant will be
supplied from Kazakh enterprises: the calcined coke from
the Pavlodar petrochemical plant, coal pitch will provide
"ArcelorMittal Temirtau". The commissioning of this plant will
also reduce production costs, improve quality aluminum and
will create about 500 jobs. According to the JSC "BCC
Invest", the message is neutral for the stock prices of ENRC
PLC, as it contains fundamentally new information. The
project to create the anode plant is declared in the
investment program of the company, and of the progress in
implementing the project meets the expectations of the
market. Analysts of JSC "BCC Invest" support the current
recommendation to "buy" with target price of 9.40 pounds
per share.
Analysts of JSC "BCC Invest" expect the following
developments on international markets today:
- Russia is expected to publish data on monetary base in narrow
definition.
- in France at 12:45 (AST) to be published data on the indicator
of business climate index for the prospects of the productive
sector and the manufacturing sector is forecast by private
companies. In Germany, at 14:00 (AST) IFO will publish
indicators on business climate, according to the current
situation and expectations. In Italy at 14:00 (AST) will be
released retail sales data. At 15:00 (AST) to be published data
on euro area on new industrial orders.
- In USA, no important economic statistics is expected;
- Today the following enterprises will publish their reports:
General Electric Co, Schlumberger Ltd, McDonald's Corp,
Vodafone Group PLC, Caterpillar Inc, Syngenta AG, Verizon
Communications Inc, Syngenta AG, MMC Norilsk Nickel,
CaixaBank, and others.
Analysts of BCC Invest JSC are giving the following advice for
investors in securities of issuers in internal market:
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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 320 415 +29.69 Hold
Bank CenterCredit CCBN 490 608 +22.83 Buy
Tsesnabank TSBN 942.85 1,030 +9.24 Neutral
KazMunaiGaz RDGZ 17,550 20,500 +16.81 Buy
Kazakhmys PLC GB_KZMS 3,200 3,500 +9.38 Hold
ENRC PLC GB_ENRC 1,850 2,200 +18.92 Buy
Kazakhtelekom KZTK 19,600 Review
KZTKp 9,210 9,300 +0.98 Hold
MREK MREK 1,100 1,130 +2.73 Hold
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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.
[2011-07-22]