Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for November 7, 2011

/IRBIS, November 7, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for November 7, 2011. Analysts of JSC "BCC Invest" now expect neutral opening of trades on ambiguous external background. Further, during the day, according to analysts, the dynamics will be mutable, and KASE index will end the day near the neutral point. Analysts of BCC Invest JCS note the following events on Kazakhstani market today: - The company MaxPetroleum PLC started drilling the first deep subsalt wells NUR-1 on the Emba area B of Block E. The planned drilling depth is 7,250 meters, the goal - deposits of Devonian and Carboniferous periods with estimated probable reserves of hydrocarbons in the 467 million barrels of uncorrected at risk and the probability of geological success of 29% - ENRC suspends execution of the deal to acquire 75% stake in Shubarkol Komir. November 4, 2011, the Bloomberg news portal published message according to which ENRC PLC to delay the vote to purchase 75% shares of JSC "Shubarkol Komir" for $ 650 million at the request of the Group's shareholders in connection with the continued volatility in financial markets. Shareholder vote on the transaction was scheduled for November 7, 2011, and according to the speaker of the Group C. Kirkham, the company has asked to extend the purchase option. Owners of coal asset A. Mashkevich, Ibragimov and P. Shodiyev, as is the majority shareholder with ownership interest in the Group of 14.6% each, do not participate in the voting shareholders of ENRC PLC for the purchase of JSC "Shubarkol Komir." According to the chairman F. Vulis, strategically, buying coal assets is still attractive to the Group, however, the company considers reasonable review period of the option at the request of shareholders, taking into account current market conditions (high volatility). According to the JSC "BCC Invest", the message is neutral for the stock prices of ENRC PLC, and analysts of JSC "BCC Invest" maintain the current recommendation for the issuer's shares at "buy" with a target price of 8.00 pounds per share. Analysts of BCC Invest JCS expect the following developments on international markets today: - Russia is expected to publish data on international reserves. - in the UK at 14:00 (AST) will be published index price for accommodation Halifax. At 15:30 (AST) will be published in investor confidence index from Sentix, and at 16:00 (AST) - Euro zone data on retail sales in September. At 17:00 (AST) to be published data on industrial production in Germany in September. - in U.S. at the closure of trading at 02:00 (AST) will be published September data on consumer loans. - today Rosneft Oil Co, Uralkali OJSC, State Bank of India, priceline.com Inc, and others will be reporting. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: ------------------------------------------------------------- Closing Target Potential, Issuer Code price price % Recommen- dation ----------------- ------- ------- ------ ---------- --------- Kazkommertsbank KKGB 240 320 +33.33 Neutral KKGBp 156.20 157 +0.51 Neutral Halyk Bank HSBK 215 296 +37.67 Buy Bank CenterCredit CCBN 295.05 608 +106.07 Buy Tsesnabank TSBN 800 1,030 +28.75 Neutral KazMunaiGaz RDGZ 14,979 15,900 +6.15 Buy Kazakhmys PLC GB_KZMS 2,250 2,440 +8.44 Hold ENRC PLC GB_ENRC 1,624 1,900 +17.00 Buy Kazakhtelekom KZTK 17,500 27,500 +57.14 Buy KZTKp 11,502 8,900 -22.62 Buy MREK MREK 1,299 1,130 -13.01 Hold ------------------------------------------------------------- The given material has exclusively information 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 given material. [2011-11-07]