Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 4, 2011

/IRBIS, November 4, 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 November 4, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background continues to be positive for the commodity market of Kazakhstan. Potential leader in growth is Kazakhmys, quotes of which can grow at least 2.5%. Two other representatives from the mining sector will add to the level of 1-2%. The growth potential of quotations of Halyk and Kazkom is 1.5%. In general the KASE index will be in positive territory at 1.2 - 2%. - The positive end of trading on the American and European markets, led to "fun" start of session on the Asian markets will be added to the present moment an average of about 2%. The maximum increase in the region shows the index of the Hong Kong area Hang Seng (+3,26%), Korean Kospi, the Japanese Nikkei and Shanghai Composite showing growth of 2.7%, 1.24% and 0.78% respectively, the most moderate dynamics is observed for Malaysian KLSE Comp. (0.6%). - Nearest futures for delivery of a barrel of oil and an ounce of gold is currently trading around lowered by 0.2%, the uncertainty in terms of technical analysis, observed in the graphs of these commodity assets, clearly will support the players for a fall. Thus, almost non-stop ten-rise in gold prices necessitates a "technical" correction, as also reflected in the indicator values Stochastic Oscillator. Another trigger quotes "black gold" upper limit of six-month downtrend may cause profit-taking players. - Prospects for the major pairs of the currency market Forex are also uneven, with one hand - the proximity of the major psychological marks of 1.40 and 1.60 for the pair EUR/USD and GBP / USD, respectively, will act as a 'pull' factor in However, the growing uncertainty surrounding the adoption by Greece bailout plan will have a significant economic pressure on the players. Effect of lowering interest rates yesterday by the European Central Bank, in our opinion, would be temporary, since it is clear that a key aim of such a measure - is nothing but an attempt by the monetary authorities to protect the European banks of the possible liquidity crisis. 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 3.0 6.2 Buy +106.7 KAZKOMMERTSBANK KASE 240.8 452.0 Buy +87.7 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.7 13.6 Buy +137.3 HALYK BANK KASE 215.0 474.0 Buy +120.5 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 300.0 - Neutral n/a -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 16.8 22.7 Hold +35 KAZKMUNAIGAZ KASE 14,979.0 20,062.0 Hold +34 BMB MUNAI AMEX 1.02 n/a Review n/a -------------------------- ---- -------- ------------ --------- ------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 936.0 1,427.0 Buy +52 ENRC LSE 676.0 1,216.0 Buy +80 KAZAKHGOLD-GDR LSE - n/a Review n/a URANIUM ONE LSE 2.9 3.3 Buy +15 -------------------------- ---- -------- ------------ --------- ------- Companies with small capital: ----------------------------------------------------------------------- Kazakhtelecom KASE 17,600.0 33,825.0 Buy +92 STEPPE CEMENT LSE 34.0 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. [2011-11-04]