Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for November 9, 2011

/IRBIS, November 9, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for November 9, 2011. Analysts of JSC "BCC Invest" now expect positive opening of trades on positive external background. Further, during the day, according to analysts, the dynamics will be changeable, but the KASE index will, probably, still end the day with increase. Analysts of BCC Invest JCS note the following events on Kazakhstani market today: - Competition Authority of Kazakhstan accuses "Shubarkol Komir" in the abuse of dominance. "Despite the fact that coal sales of JSC "Shubarkol Komir" are being implemented in terms of delivery by rail to the station Kyzylzhar Karaganda region, where buyers exercise self-delivery of coal, JSC "Shubarkol Komir" sets the price depending on certain conditions, including the territorial jurisdiction customers, organizational and legal forms, sales volumes, payment terms", - was noted in a press release. In addition, according to a filling station, installed the signs of abuse of dominant position in the actions of Karazhyra LTD in the part of actions that led or may lead to restricting and eliminating competition and infringing the legitimate rights of consumers. "So, Karazhyra LTD coal for 2011 sold through open competition, where all the coal was divided into lots, depending on the amount and the buyer with the establishment of different starting prices, which consequently leads to a restriction of competition and infringement of legal rights of consumers", - the report of the antimonopoly authority stated. All identified violations of antitrust laws will be investigated. Analysts of JSC "BCC Invest" believe that the message is negative for JSC "Shubarkol Komir", as it implies the risk of the company to penalties, but is neutral for share prices of ENRC PLC. Three days ago it became known that the deal to acquire the asset postponed at the request of the independent shareholders. Management believes that the acquisition of coal is an attractive asset for the company, but at the request of the independent shareholders and the continuing volatility in the markets, and considers it appropriate to review the period of performance of the option. Term of the strike is scheduled for January 31, 2012. Analysts leave current recommendation on the shares of ENRC PLC at 'BUY' with a target price of ? 8.00 per share. Analysts of BCC Invest JCS expect the following developments on international markets today: - In the next two days in Russia is expected to publish data on exports, imports and trade balance. - Today in France at 13:30 (AST) The Bank of France will publish business sentiment index in October, and at 13:45 (AST) to be published data on the fiscal balance for September and on research investment in the industrial sector. In the UK, at 15:30 (AST) to be published data on trade balance for September. - Today in the U.S. at 18:00 (AST) to be published data on applications for a mortgage from an MBA and at 20:00 (AST) - on wholesale inventories for September. - Today Gazprom OJCS, AP Moller - Maersk A/S, Cisco Systems Inc, HSBC Holdings PLC, Anheuser-Busch InBev NV, General Motors Co, E. ON AG, Enel SpA, Tencent Holdings Ltd, State Bank of India, 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 242 320 +32.23 Neutral KKGBp 156.20 157 +0.51 Neutral Halyk Bank HSBK 215 296 +37.67 Buy Bank CenterCredit CCBN 301 Review Tsesnabank TSBN 800 1,030 +28.75 Neutral KazMunaiGaz RDGZ 14,450 15,900 +10.03 Buy Kazakhmys PLC GB_KZMS 2,210 2,440 +10.41 Hold ENRC PLC GB_ENRC 1,600 1,900 +18.75 Buy Kazakhtelekom KZTK 17,800 27,500 +54.49 Buy KZTKp 12,000 8,900 -25.83 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. [2011-11-09]