Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for July 29, 2011

/IRBIS, July 29, 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 29, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The situation on foreign markets stabilized today, but the risky assets remain under pressure on fears of U.S. default. Against the background risk of further falls likely is preservation of negative sentiment in the domestic market. Under pressure are the shares of the mining and banking sectors. - Asian markets today have gone into negative territory, trading well below levels of previous day's close. The pressure on the markets have news that the U.S. Congress postponed voting on the plan, raising bar of government debt. The event heightened fears about the likelihood of default of the country. Under pressure at the auctions in Asia are shares of the financial sector. Among the negative corporate news for the market it should be noted about the statement Sony Corp. that in the second quarter the company posted a loss of $ 15.5 billion yen against profit of 25 billion yen for the same period last year. The company also lowered forecasts for the results of the entire year 2011. Hang Seng index and the Shanghai Composite lost today 0.5-0.8% of the cost, Nikkei drops by 0.6%. - Today, Asian investors differ in their preferences. At the beginning of the session there was continued downward movement of the euro/dollar. However, later, a single currency managed to cross the green area. Exerted pressure on the euro yesterday's rise in yields of government bonds in Italy, which again returned the fear of spread of the debt crisis in the larger euro zone economy. Not in favor of the dollar was the statement of the IMF Lagarde about the inability of American authorities to find a consensus on increasing the debt limit would lead to a weakening dollar. These words are somewhat contrary to the sentiments of investors who bought the dollar as risk-free asset, even though the situation in the U.S. While the euro / dollar is gaining 0.05% and traded at 1.4341. - Commodity markets today are generally in positive territory. Futures for Brent crude are currently increasing at 0.3%. Oil has some support on yesterday's U.S. statistics on unemployment. Prices for copper for delivery in three months added 0.4% in trading in Shanghai and 0.3% in electronic trading in New York. "Red Metal" became more expensive because of the strike at the largest mine in Chile. Gold as compared to the previous day's closing has not changed in price. 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 5.0 6.2 Buy +24.0 KAZKOMMERTSBANK KASE 375.0 452.0 Buy +20.5 KAZKOMMERTSBANK -PREF KASE 167.0 226.0 Buy +35.3 HALYK BANK-GDR LSE 8.4 13.6 Buy +61.9 HALYK BANK KASE 312.0 474.0 Buy +51.9 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 18.7 22.7 Hold +22 KAZKMUNAIGAZ KASE 17,000.0 20,062.0 Hold +18 BMB MUNAI AMEX 1.00 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,337.0 1,427.0 Hold +7 ENRC LSE 780.5 1,216.0 Buy +56 KAZAKHGOLD-GDR LSE - n/a Review n/a URANIUM ONE LSE 3.4 3.3 Hold -3 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 19,600.0 33,825.0 Buy +73 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. [2011-07-29]