Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for October 10, 2011

/IRBIS, October 10, 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 10, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - After a considerable growth of quotations on Friday fixation of profits is now expected on certain issuers. 17.5%growth on ENRC was excessive, and therefore it may decrease in quotations on the level of 2 - 4%. A slight downward movement is possible and for Kazakhmys, but the continuing rise in the cost of copper to support the issuer. Banks show mixed trends, but in general the sector will be in the red. Change in the KASE index will be from -1.2% to 0.5%. - Multidirectional movement of stock indices can be seen today in Asia. Trading on the Nikkei is not held in connection with the festivities. Statements of European leaders about the readiness of the plan to recapitalize banks eurozone had little support to Asian stock quotes. Hang Seng and post-holiday Shanghai fall, losing 0.5% and 0.2% respectively on expectations of further monetary tightening in China. Shanghai Stock Exchange's main index fell to two-year lows on the negative statistics on the housing market and decrease of prices for fuel by the authorities. - The euro/dollar is rising by 0.73%, approaching the mark of 1.348. Despite the downgrade of Italy and Spain, investors decided to buy euros, expecting to increase the capital of troubled banks eurozone, as promised to the leaders of France and Germany. Meanwhile, the inspection is completed the execution of current liabilities Greece. The final report of "threesome" should be ready by October 13. The probability of default by Greece remains high, even if the country will receive the next tranche of EUR 8 billion. - Oil and copper continue their solid progress upward on a wave of European optimism and positive U.S. data. Brent futures crossed the mark of $ 106 per barrel. In OPEC observed differences on the current production volumes, which, according to the developed countries should be increased. Copper contracts in Shanghai are growing at 0.9%. The price of gold is kept at the closing at the end of last week. 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 3.1 6.2 Buy +97.8 KAZKOMMERTSBANK KASE 254.8 452.0 Buy +77.4 KAZKOMMERTSBANK -PREF KASE 148.0 226.0 Buy +52.7 HALYK BANK-GDR LSE 5.9 13.6 Buy +129.3 HALYK BANK KASE 227.0 474.0 Buy +108.8 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 337.1 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 14.5 22.7 Hold +57 KAZKMUNAIGAZ KASE 13,100.0 20,062.0 Hold +53 BMB MUNAI AMEX 1.02 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 857.5 1,427.0 Buy +66 ENRC LSE 629.5 1,216.0 Buy +93 KAZAKHGOLD-GDR LSE - n/a Review n/a URANIUM ONE LSE 2.1 3.3 Buy +57 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 17,600.0 33,825.0 Buy +92 STEPPE CEMENT LSE 31.3 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. [2011-10-10]