Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 18, 2011

/IRBIS, November 18, 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 18, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - After more than 3% reduce of the cost of crude oil prices and the significant decrease in industrial metals it will be right to assume that today out-of-favor stocks will be representatives of the mining sector. Quotes of oil industry could fall by at least 1%. Greater reduction will occur to steelmakers - from 1.5 to 3%. Against this background played on the increase on certain banks is possible, in particular, in Kazkommertsbank. KASE index will be in the red at 1-1.5%. - Negative with the U.S. stock markets was taken up by Asian investors. Fresh fears for the euro area, increased growth yields of long bonds held yesterday in Spain after the auction is forced today the Asian market shares of more than 1%. The Japanese Nikkei, Chinese Shanghai and Hong Kong Hang Seng from the opening of Friday's trading went down by 1.3%, 1.8% and 1.4% respectively. Japanese exporters continue to be under pressure from the yen, which along with the U.S. dollar in times of panic, acts as a safe haven. - European fears and negative dynamics of stock markets stimulate sales of commodities. The contracts for the supply of copper on the Shanghai Stock Exchange today, went down by more than 1.6%. Participants in the oil market have been struggling to win back the positions of Brent, which grew price of a barrel to $ 108.3. In recent gold fails to play the role of risk-free asset. The cost of the metal in morning trading in Asia dropped to $1,722 per troy ounce. - The foreign exchange market is an attempt to break through the bull downtrend of EUR / USD, which exceeded the mark of 1.347. Not in favor of the U.S. currency was another statement of the chairman of the Bank of New York Dudley that the Fed may resort to new measures to stimulate the economy. The monetary authorities are continuing their efforts to reduce long-term interest rates. Certain slowdown in inflation to some extent supported market expectations of a possible launch QE3 next year. 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 234.0 452.0 Buy +93.2 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.8 13.6 Buy +134.7 HALYK BANK KASE 215.0 474.0 Buy +120.5 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 290.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 16.5 22.7 Hold +37 KAZKMUNAIGAZ KASE 15,000.0 20,062.0 Hold +34 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 876.0 1,427.0 Buy +63 ENRC LSE 646.0 1,216.0 Buy +88 URANIUM ONE LSE 2.4 3.3 Buy +37 Companies with small capital KAZAKHTELECOM KASE 17,720.0 33,825.0 Buy - STEPPE CEMENT LSE 32.8 - 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. [2011-11-18]