Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 15, 2011

/IRBIS, November 15, 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 15, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Completion of a two-day rally, as on international markets, is expected today on the local market. Among the potential leaders of the reduction were raw materials producers. ENRC profits are expected to commit to the 2% level. KMG Exploration and Production was under pressure from 2% reduce of the cost of crude oil. Kazakhmys in London fell by more than 2%, so the possible negative dynamics on the KASE is possible. Among the banks, caution should be exercised to Kazkommertsbank, which went down by 1%. - Pessimistic mood in the euro area and the results of a bearish stock trading in New York provided the foundation for decrease of Asian indices. So, the next jump in yields of Italy and Spain reinforces concerns about the ability of market participants to keep the spread of European government debt crisis. Under pressure from the strong yen, Japanese issuers, except for banks, did not disappoint by financial statements. The indices Nikkei, Hang Seng and Shanghai are growing today at 0.8%, 1.1% and 0.1% respectively. - Commodities are now showing mixed dynamics. Quotes of the Brent crude oil have exceeded the level of $ 112.3 per barrel, despite the continued strengthening of the dollar, which puts pressure on the price of industrial metals. The contract price for the supply of tons of copper is reduced in Shanghai by 0.8%. Gold again against the background of increased public concern and the flight into the dollar shows the dynamics of conventional metals. The price of precious metals in Asia fell below $1,768 per troy ounce. - The flight of investors from risky assets continues to beat at the positions of the single European currency. EUR/USD rate dropped today by 0.24% to 1.36. European authorities continue to delay adoption of the decision. The increase in fund EFSF remains in name only. EU leaders are trying to get the assistance of external creditors, particularly Asian countries. Changing political forces in Greece and Italy to some extent provided the time to perform specific actions, but this has not happened yet. At the same time Germany shows once again that patience is running out of the country, signaling on possible change in the structure of the eurozone. 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 +106.6 KAZKOMMERTSBANK KASE 240.0 452.0 Buy +88.3 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 6.0 13.6 Buy +126.7 HALYK BANK KASE 218.0 474.0 Buy +117.4 HALYK BANK -PREF (HSBKP) KASE 153.6 237.0 Buy +54.3 HALYK BANK -PREF1 (HSBKP1) KASE 156.4 237.0 Buy +51.6 BANK-CENTER-CREDIT KASE 295.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 17.0 22.7 Hold +33 KAZKMUNAIGAZ KASE 15,300.0 20,062.0 Hold +31 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 911.5 1,427.0 Buy +57 ENRC LSE 676.5 1,216.0 Buy +80 URANIUM ONE LSE 2.7 3.3 Buy +23 Companies with small capital KAZAKHTELECOM KASE 17,800.0 33,825.0 Buy +90 STEPPE CEMENT LSE 33.5 n/a Review - ----------------------------------------------------------------------- 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. [2011-11-15]