Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 25, 2011

/IRBIS, July 25, 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 25, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The situation on foreign markets today indicates a change in sentiment on the stock market. Political impasse over the question of raising debt in the U.S. raises concerns with respect to defaulting countries. Rising prices for gold and copper prices decline indicate growing economic concern among investors. Analysts of BTA Securities believe that the domestic market today will show a negative trend. Under pressure will be shares of raw materials sector. - Mass sell-off may be seen in Asian stock markets. Concerns about a possible technical default of U.S. reduce risky appetites of investors. The Nikkei and Hang Seng are down by 0.8% each. At the Tokyo the main losses are suffered by investors of high-tech sector and carmakers. In Hong Kong, the threat of another round of financial crisis led to a decrease in the value of shares of the banking sector. China's Shanghai today fell by more than 2% - the maximum decline over the past two months. The collapse of high- speed train railway companies collapsed quotes for more than 7%. Meanwhile, there is increasing demand for the shares of airline as an alternative to railways. - Today, Asian investors, despite the collapse of stock indices, give preference to the single European currency, which added during the session 0.13% and traded at 1.438. Pressure on the dollar has a lack of progress in negotiations between political parties on the U.S. debt limit increase to 02 August. Thus, the U.S. government has only one week to come to any compromise with respect to fiscal policy in the coming years. Otherwise there will be declared a technical default. After a tense meeting at the weekend with Democrat Barack Obama, Republican leader Boehner said that they were unable to reach consensus with the President, and that is unlikely to be any promotion, and therefore prefers a dialogue with the U.S. Senate. - Reduce of the investors' appetite for riskier assets touched the commodity markets, too. Lack of progress in the issue of U.S. debt limit once again lowers the quotations of oil and industrial metals. Brent futures today are getting cheaper by more than 0.5% to $ 117.7 per barrel. Mass test of railways, transporters and builders w/e in China are putting pressure on the cost of copper, three-month futures of which fell by 0.6% since the start of Shanghai trading. Gold continues record rally, carrying a protective tool against risk. The spot price of the metal added 0.8%. 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 390.6 452.0 Buy +15.7 KAZKOMMERTSBANK -PREF KASE 167.0 226.0 - +35.3 HALYK BANK-GDR LSE 8.5 13.6 Buy +60.0 HALYK BANK KASE 318.0 474.0 Buy +49.1 HALYK BANK -PREF (HSBKP) KASE - 237.0 Buy n/a HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 495.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 19.9 22.7 Hold +14 KAZKMUNAIGAZ KASE 17,550.0 20,062.0 Hold +14 BMB MUNAI AMEX 1.00 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,356.0 1,427.0 Hold +5 ENRC LSE 786.0 1,216.0 Buy +55 KAZAKHGOLD-GDR LSE 3.6 n/a Review n/a URANIUM ONE LSE 3.5 3.3 Hold -6 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,850.0 33,825.0 Buy +70 STEPPE CEMENT LSE 40.5 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. [2011-07-25]