Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for October 3, 2011

/IRBIS, October 3, 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 October 3, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Today quotes of Kazakh market will continue to be under pressure from external news background. In view of the strong correlation of the S & P and KASE, the latter is expected to decline by 1%. Yesterday's sales are likely to restrain activity on raw issuers. The whole brunt today will be directed to the banking sector, quotes of representatives of which may fall within 2 - 5%. - For the third day Asian indices are moving downwards, picking bearish sentiment of foreign investors. Differences between European politicians continue to hold in suspense the world market, more defaults are waiting Greece. The greatest losses are export-oriented companies in Europe. Goldman Sachs has lowered its forecast for economic growth in Japan in response to the expected slowdown in the global economy. Nikkei down today by 1.3%, feeling additional pressure from the yen strengthens. Hang Seng also lost more than 1%, while trading on the Shanghai Stock Exchange was not held in connection with the celebrations in China. - Investors have decided to consider the future strategy on the euro/dollar in mind of the dismal situation in the U.S. and Europe. Participants in the currency market today decided that the U.S. dollar at current levels looks overbought, especially given the recent decrease in U.S. credit rating. While the EUR/USD increases by 0.3%, settling above $ 1.32. Meanwhile, the European Commission continues to check the performance of its obligations by Greece, which is waiting for the sixth tranche of the EU. The final report is expected on October 13. - On the raw materials market the quotations of copper and crude oil continue to decline. Futures contracts for the supply of European Brent crude fell today to $ 101 per barrel. Investors are still wary about reducing energy consumption in the U.S. and Europe. The cost of copper in the meantime reduced by more than 1%. Strikes at mines in Peru, Freeport McMoRan, Chile, Bolivia and Indonesia did not cease despite the company's attempts to implement the increase in salaries of workers at government expense. Sales in the stock markets stimulate buying of gold as a safety tool. The spot price of the metal was settled at $ 1,670 per troy ounce. 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 3.4 6.2 Buy +82.4 KAZKOMMERTSBANK KASE 255.0 452.0 Buy +77.3 KAZKOMMERTSBANK -PREF KASE 148.0 226.0 Buy +52.7 HALYK BANK-GDR LSE 6.0 13.6 Buy +126.7 HALYK BANK KASE 230.0 474.0 Buy +106.1 HALYK BANK -PREF (HSBKP) KASE 168.4 237.0 Buy +40.7 HALYK BANK -PREF1 (HSBKP1) KASE - 237.0 Buy n/a BANK-CENTER-CREDIT KASE 346.3 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 14.1 22.7 Hold +61 KAZKMUNAIGAZ KASE 13,100.0 20,062.0 Hold +53 BMB MUNAI AMEX 1.02 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 763.0 1,427.0 Buy +87 ENRC LSE 551.5 1,216.0 Buy +120 KAZAKHGOLD-GDR LSE - n/a Review n/a URANIUM ONE LSE 1.9 3.3 Buy +71 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 18,000.0 33,825.0 Buy +88 STEPPE CEMENT LSE 30.8 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. [2011-10-04]