Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 26, 2011

/IRBIS, July 26, 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 26, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today, return of optimism to the markets is possible, however, the sustainability of this trend is in doubt because of crisis prevailing in the markets, and the flight from risky assets could resume at any time. In this regard, analysts of BTA Securities believe that the activity in the domestic market will remain low, and selling will predominate. Under the pressure will be shares of raw and banking sectors. - Today, several Asian sites recovered after yesterday's slump after U.S. President Barack Obama has said that by moment the consensus on U.S. national debt issue could not be reached. The Nikkei and Hang Seng are currently increasing by 0.6% and 1% respectively, Shanghai adds only 0.1%. Support to the indices is provided also by corporate results. So Canon shares added 2.4% after the company raised its forecast for net profit on higher revenue from sales of camcorders. - In the Asian session today bidding remains for European currency. More serious investors' concerns about the U.S. defaulting today sent a couple of euro/dollar to a mark of 1.447. Euro has found support yesterday at the end of the trading session after Obama and Republican Representative Boehner insisted on plans to raise bar of debt, thus highlighting the lack of consensus on this issue. Obama called as soon as possible to resolve the issue in order to avoid defaulting on the economy and lowering the country's credit rating. Boehner said that Congress should approve a plan to reduce state spending Republicans by 1.2 trillion. USD for 10 years and raising the debt of all bars at $ 1 trillion. U.S. dollars. - Today, investors are likely to devote much attention to U.S. statistics. Today, the data on sales of new homes will be published, and economists expect growth in June by 0.3%. There will also be available data on the index of consumer confidence from the Agency Conference Board. Economists expect it to decline in July, up 56 points from 58.5 the previous month. The index of business activity in the district Richomnd is projected to grow in July, up to 5 points from 3 in the previous month. - Today, the commodity markets reflects investors' temporary optimism, associated with Obama's statement about the possibility of avoiding defaulting of U.S. Futures of Brent and WTI are currently increasing by 0.3%. Prices for copper for delivery in three months added 0.7 and 1.0% respectively in New York and Shanghai, on news of a strike at Chile's oil fields of "red metal", generating speculation about a possible increase in the deficit of the metal on the market. Gold continues record rally, speaking protective tool against risk. The spot price of the metal added 0.05%. 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 5.1 6.2 Buy +22.8 KAZKOMMERTSBANK KASE 380.0 452.0 Buy +18.9 KAZKOMMERTSBANK -PREF KASE 167.0 226.0 - +35.3 HALYK BANK-GDR LSE 8.6 13.6 Buy +58.1 HALYK BANK KASE 310.0 474.0 Buy +52.9 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 19.7 22.7 Hold +15 KAZKMUNAIGAZ KASE 17,550.0 20,062.0 Hold +14 BMB MUNAI AMEX 1.00 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,349.0 1,427.0 Hold +6 ENRC LSE 781.0 1,216.0 Buy +56 KAZAKHGOLD-GDR LSE 3.5 n/a Review n/a URANIUM ONE LSE 3.7 3.3 Hold -10 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,790.0 33,825.0 Buy +71 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. [2011-07-26]