Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for October 31, 2011

/IRBIS, October 31, 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 31, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background is not in favor of Kazakh commodity markets. Today quotations of steelmakers and oil industry will be under significant pressure. Reduce of the cost of the three blue chips can range from 1% to 2.2%. Such prospects Securities mining sector may increase the attractiveness of financial stocks, in particular the Halyk Bank, quotes of which can add a little more than 1.5%. In general, lowering the value of KASE index will be 0.8-1.4%. - Asian indices are in the red today under pressure of strengthening dollar and decrease in quotations of commodities. The Shanghai and Hang Seng went down by 0.5% and 1.4% respectively. Japan's Nikkei was able to reduce losses by 0.15%, after it became known that the authorities have made the intervention on the foreign exchange market to weaken the yen. Such news supported quotations of exporters. - The euro/dollar continues to decline, losing 0.9% today and bargaining at the level of 1.402. The negative investor sentiment is related to problems in Italy. Cause for concern was Friday auction of ten-year Italian bonds, the yield on which rose to highs since the inception of the euro area. Attention is focused on market participants' efforts to implement key economic reforms to reduce government debt. - Most of the headings are now in deep red at the background of a substantial strengthening of the U.S. dollar after the Japanese intervention. Quotes of the European brand of Brent crude fell to $ 109.8 per barrel. The cost of copper on the Shanghai Stock Exchange falls by more than 3% on concern about reducing the demand for metal in China. Gold once again repeats the negative dynamics of conventional Commodities in response to positive movement bucks. The cost of an ounce of precious metal fell to $1,711. 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 3.3 6.2 Buy +90.8 KAZKOMMERTSBANK KASE 248.0 452.0 Buy +82.3 KAZKOMMERTSBANK -PREF KASE 148.0 226.0 Buy +52.7 HALYK BANK-GDR LSE 6.1 13.6 Buy +124.8 HALYK BANK KASE 217.0 474.0 Buy +118.4 HALYK BANK -PREF (HSBKP) KASE 168.4 237.0 Buy +40.7 HALYK BANK -PREF1 (HSBKP1) KASE 171.0 237.0 Buy +38.6 BANK-CENTER-CREDIT KASE 315.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 17.0 22.7 Hold +33 KAZKMUNAIGAZ KASE 15,180.0 20,062.0 Hold +32 BMB MUNAI AMEX 1.02 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,017.0 1,427.0 Buy +40 ENRC LSE 700.0 1,216.0 Buy +74 KAZAKHGOLD-GDR LSE n/a n/a Review n/a URANIUM ONE LSE 3.0 3.3 Buy +9 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 17,700.0 33,825.0 Buy +91 STEPPE CEMENT LSE 34.5 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. [2011-10-31]