Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for November 17, 2011

/IRBIS, November 17, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for November 17, 2011. Analysts of JSC "BCC Invest" now expect mixed and multidimensional opening of trades on ambiguous external background. Further, during the day, according to analysts, the dynamics will be changeable, but the KASE index will, probably, end the day at the neutral point. Analysts of BCC Invest JCS note the following events on domestic market today: - Ministry of Finance of Kazakhstan offered on November 16 on KASE 17.0 million MEUKAM-168 of the second issue under 5.00% per annum. November 16, 2011 in the trade system of KASE specialized auction on placement of long-term treasury bills of the Ministry of Finance of the Republic of Kazakhstan MEUKAM-168 Release 2 with a maturity of 14 years (5,040 days) and frequency of coupon 1 time per year was held. In the total of active orders, the proportion of pension market had 33.7%, the share of Kazakhstan second-tier banks (STB) - 13.2%, customers STB - 39.3%, broker-dealers - 1.7%, their clients - 12.1%. According to the JSC "Central Securities Depository" all transactions on placement of MEUKAM-168 of the second issue by the end of calculations were based on the results of trades executed. 33.8% of the total bonds were purchased by pension market subjects, 48.5% - STB clients, 17.7% - clients of broker-dealers. IPO was on the lower boundary of the range projected by "BCC Invest". - JCS JSC "Bank CenterCredit" published statements for the nine months of 2011. According to the JSC "BCC Invest", statements of "Bank CenterCredit" for the first nine months of the year is negative, since it demonstrates the deterioration of profitability of the bank. This is due to the formation of a greater level of retention money in terms of assets, interest-bearing, as well as losses on trading operations and the formation of reserves in the third quarter of this year. At this time recommendation on the shares of the issuer are reviewed, and in a short time JSC "BCC Invest" will release an updated review of the recommendation and target price. Analysts of BCC Invest JCS expect the following developments on international markets today: - during the week in Russia data for October, retail sales, unemployment rate, on investments in production capacity, according to disposable income and real wages will be published. - in the UK at 15:30 (AST) to be published data for October retail sales. At 16:00 (AST) data will be published September euro area in terms of output in the construction sector. - in the United States at 19:30 (AST) to be published data on construction of new homes in October, and on applications for unemployment benefits. At 21:00 (AST) will be published PMI from Philadelphia Fed. In the next two days, MBA to publish data on problem mortgages, particularly in terms of unpaid mortgages and foreclosure. - Today Glencore International PLC, Sears Holdings Corp, 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 237 320 +35.02 Neutral KKGBp 156.20 157 +0.51 Neutral Halyk Bank HSBK 219 296 +35.16 Buy Bank CenterCredit CCBN 290 Review Tsesnabank TSBN 800 1,030 +28.75 Neutral KazMunaiGaz EP RDGZ 14,800 15,900 +7.43 Hold Kazakhmys PLC GB_KZMS 2,150 2,440 +13.49 Hold ENRC PLC GB_ENRC 1,625 1,900 +16.92 Buy Kazakhtelekom KZTK 17,700 27,500 +55.37 Buy KZTKp 11,350 8,900 -21.59 Sell MREK MREK 1,350 1,130 -16.30 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. [2011-11-17]