Forecasts and recommendations of analysts of "BTA Securities" (Kazakhstan) for September 19, 2011

/IRBIS, September 19, 2011/ - "Subsidiary organization of joint- stock Company "BTA-Bank" "BTA-Securities" (Almaty, "BTA Securities") has provided IRBIS with the review of main events and investment ideas and forecasts for September 19, 2011. According to the report, the analysts of the Company note the premarket on world markets is composed as follows: - Today, the situation on foreign markets, determining the mood on KASE, remains ambiguous. Negative of Europe may cool the optimism of investors. Today, reduce in the price of the shares of mining companies is possible. - Asian stock markets suffer multidirectional movement. Nang Seng falls against the inability of European leaders to propose a plan to overcome the debt crisis in the eurozone. This reduces the expected return of banks, exporters and companies that produce raw materials. Shares of financial and oil companies were also reduced. Nikkei 225 showed a growth of 2.25%, reaching 8864. - The belief that Greece will avoid default, is in doubt, since it is unclear whether to provide the Prime Minister of Greece George Papandreou that the requirements are put forward by making loans to help. All these factors are putting pressure on the EUR/USD. - The situation on the commodity markets is likely to repeat the previous days. Until there are debt problems the euro area, investors will seek to protect their investments, including gold. In the next term of the next months can jump in gold due to increased investment, which by 2011 could reach $ 60 billion Analysts of "BTA Securities" JCS give the following recommendations for the investors on the securities of Kazakhstani issuers: ----------------------------------------------------------------------- Last. Target price Recommen- Poten- Issuer SE price for 2011 dation tial, % -------------------------- ---- -------- ------------ --------- ------- Банки ----------------------------------------------------------------------- Kazkommertzbank-GDR LSE 4.0 6.2 Buy +55.4 Kazkommertzbank KASE 285.0 452.0 Buy +58.6 Kazkommertzbank-PREF KASE 158.4 226.0 Buy +42.7 Halyk bank-GDR LSE 7.0 13.6 Buy +94.3 Halyk bank KASE 247.5 474.0 Buy +91.5 Halyk bank -PREF (HSBKp) KASE 168.4 237.0 Buy +40.7 Halyk bank -PREF1 (HSBKp1) KASE - 237.0 Buy - Bank CenterCredit KASE 369.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil and Gas: ----------------------------------------------------------------------- EP KazMunaiGaz-GDR LSE 16.8 22.7 Hold +35 EP KazMunaiGaz KASE 14,300.0 20,062.0 Hold +40 BMB MUNAI AMEX 0.92 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,052.0 1,427.0 Buy +36 ENRC LSE 667.5 1,216.0 Buy +82 KAZAKHGOLD-GDR LSE - n/a Review n/a URANIUM ONE LSE 2.5 3.3 Buy +31 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 18,550.0 33,825.0 Buy +82 STEPPE CEMENT LSE 32.8 n/a Review n/a ----------------------------------------------------------------------- This material is of exclusively informative character and is not an offer or recommendation to make any deals with securities. "IRBIS" Agency does not take responsibility for the opinions given in this material. [2011-09-19]