Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for September 6, 2011

/IRBIS, September 6, 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 September 6, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background is still negative for the local market, but did not attempt to exclude fixed returns one of the issuers. Prices for copper and other industrial metals are falling, oil is in the red, the dollar strengthened. In general, reduction of KASE index today may be less significant - at the level of 0.8-1.7%. Kazakhtelecom is still attractive in view of the current uncertainty in the market. - Shares of energy companies and banks continue to remain under selling pressure on Asian stock exchanges. Panic in the market is also connected with the fact that the September auction is occupied by a bearish wave. Investors are seriously concerned about the rising threat of a split among members of the European Monetary Union. Sales of financial chips are in response to lawsuits for mortgage securities in the United States. Japan's Nikkei drops today at 2%, led by 6.5% decrease in quotations of Toshiba Corp. amid reports that the company plans to buy 20% stake in Shaw Group Westinghouse Electric. Shanghai and Hong Kong indexes lost 0.3% and 0.9% respectively. - The euro/dollar declines by 0.3% and is trading at 1.406. Among the statistics of today may note the publication of data on the eurozone GDP and industrial orders in Germany. In the U.S., investors will wait for non-production index of ISM, which is forecast at 51 points. Any deterioration rate will result in another round of panic in the markets that will encourage investors to go further in the U.S. dollar. The pressure on the euro has Finland's position, which requires collateral from Greece as a guarantee for the return on investment for the second package of financial assistance. - Pessimistic expectations for the growth of the two largest economies in the world - the United States and China - are putting pressure on quotes of commodities. Copper futures on the Shanghai Stock Exchange today are losing in the cost more than 1%. Quotes of the Brent crude grew by 0.1% to $ 110.2 per barrel in response to expectations of a slower recovery of production in Libya. Gold today continues to grow, reaching $ 1,912 an ounce. It is expected the imminent renewal of the historical high of $ 1,917. Asian investors at the moment are interested in the dollar and prefer to hold cash rather than invest in commodities or stocks. 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 3.7 6.2 Buy +67.6 KAZKOMMERTSBANK KASE 282.0 452.0 Buy +60.3 KAZKOMMERTSBANK -PREF KASE 150.0 226.0 Buy +50.7 HALYK BANK-GDR LSE 6.8 13.6 Buy +101.5 HALYK BANK KASE 248.0 474.0 Buy +91.1 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy n/a HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy n/a BANK-CENTER-CREDIT KASE 385.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 16.0 22.7 Hold +42 KAZKMUNAIGAZ KASE 14,500.0 20,062.0 Hold +38 BMB MUNAI AMEX 0.91 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 989.5 1,427.0 Buy +44 ENRC LSE 625.0 1,216.0 Buy +95 KAZAKHGOLD-GDR LSE n/a n/a Review n/a URANIUM ONE LSE 2.4 3.3 Buy +36 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 17,000.0 33,825.0 Buy +99 STEPPE CEMENT LSE 32.8 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. [2011-09-06]