Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for November 4, 2011

/IRBIS, November 4, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for November 4, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - Asian indices are growing today after Prime Minister Papandreou of Greece questioned the plans for a referendum on the issue of financial assistance to avoid a split in his party before today's vote of no-confidence. Recently, Prime Minister of Greece was under pressure after European leaders said that the referendum can determine membership in the euro area and jeopardize agreed at last week's financial assistance to Greece. Japan's Nikkei today is growing at 1.3%, while China's Hang-Seng and Shanghai Composite added 3.3 and 0.8% respectively. Futures on U.S. indices today corrected weak rate of growth after two days before the release of the October statistics, the U.S. labor market. According to cautious forecasts of economists, employment in non-farm sector in the country increased by 95 thousand against 103 thousand in September, and in the private sector - to 125 thousand versus 137 thousand a month earlier. - Commodity markets today show a weak trend. Quotes of WTI oil and Brent falling within 0.3%. Copper in electronic trading in New York, rising to 0.7%, gold is adjusted to 0.2%. - The euro/dollar today is in moderately negative territory. Rate becomes lower by 0.2% after a significant increase in the previous day. - The news today is tempered positive background for the shares of mining companies in Kazakhstan, quotes of Kazakhmys, ENRC and KMG EP may show poor growth in anticipation of the release of data on the U.S. labor market. - Today, analysts of "Asyl INVEST" again recommend that investors pay attention to any ideas do not depend on external markets, in particular, the preferred shares of Kazakhtelecom. As previously mentioned, preferred shares of Kazakhtelecom have a high potential for growth after the company announced the sale of its 49% stake in mobile operator LLP "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. - Analysts of "ASYL INVEST" also recommended to buy common shares of National Bank, received good support at around 200 tenge. At current price levels, 212 tenge per share, they look extremely attractive. In fact, stocks are estimated at a book value that is not reasonable for the Bank, which has high growth prospects of net income and return on equity (ROE) due to higher net interest margins, reduce costs to the formation of provisions, effective control of operating expenses, the presence of significant levels of liquidity and low debt burden. 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. [2011-11-04]