Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for November 3, 2011

/IRBIS, November 3, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for November 3, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - In the Asian session today overall negative trend is observed again, despite the significant rise of the American market a day earlier. Japanese Nikkei drops 2.2%, Chinese Hang- Seng - 1%, while the Shanghai Composite is steadily gaining 1.0%. Today, the market resumed concerns about Greece after the leaders of France and Germany have decided to discontinue funding of Greece before the referendum for the adoption of the second tranche of financial assistance from the EU and warned that the negative outcome of the referendum will put to package of assistance on which they have agreed last week. In addition, investors are now perceived in a negative way yesterday's speech Bernanke, where the regulator has lowered the forecast for economic growth and reduce unemployment in the next year. It is also not encouraged by the declaration of China that is currently too early to discuss the purchase of bonds of the stabilization fund in Europe. In China, growth in the stock market was due to speculation that monetary policy there may be mitigated, and the Fed may take action to stimulate the economy if necessary. - Significant event of the day today will be the U.S. statistics on initial applications for unemployment benefits, an index of business activity in the services sector, as well as industrial orders. Economists expect the weak lower bids last week, business growth and a reduction in orders in the manufacturing sector. - Commodity markets today show a weak trend. Quotes of WTI oil and Brent are falling within 1%. Copper in electronic trading in New York is also reduced by nearly 1%, while gold - 0.7%. - The euro/dollar now is in negative zone. Rate loses 0.4% after the release of negative news on Greece. - The news background today is negative for shares of mining companies in Kazakhstan, quotes of Kazakhmys, ENRC and KMG EP may drop due to declining prices for oil and metals. - Today, analysts of "Asyl INVEST" recommend investors to pay attention or ideas are not dependent on external markets, in particular, the preferred shares of Kazakhtelecom. As noted earlier, the preferred shares of Kazakhtelecom have high potential for growth after the company announced the sale of its 49% stake in mobile operator LLC "GSM Kazakhstan". Selling shares at a much higher price (of mobile communications sector, even in the current situation is estimated at more than 9 annual profits) than it is recorded on the balance sheet, positive impact on its net profit in 2012 and is likely to give big dividends to shareholders up to 2012. This material has only 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 given in this material. [2011-11-03]