Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 22, 2011

/IRBIS, November 22, 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 22, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Under pressure from the negative dynamics of market of industrial commodities market continue to be quotations of domestic raw materials issuers. However, after significant reduction game on rise is possible in the afternoon, particularly for ENRC. In general, stocks of raw materials producers are at attractive levels, which should open new positions. In this regard, analysts believe that the sale can go through the banking sector. KASE index could fall by 0.4 - 0.8%. - Asian stock markets are under pressure from the outcome of U.S. trade, but show a more moderate decline - less than 1%. Sales in Asia continue to the sixth session in a row. Pressure on the market has a political crisis in the U.S., where the two opposing parties can not agree on ways to reduce the budget deficit and government spending. However, the relatively restrained dynamics Asian sites in any way, closely connected with the desire of certain investors to buy depreciating significantly in recent years the paper market. Japan's Nikkei today is reduced to 0.6%, Hong Kong's Hang Seng and Chinese Shanghai - 1%. - Premarket for the main representatives of the commodity market at the moment according to our estimates is described as moderately positive - apart from the need to factor in the "technical" correction, after a few days, a considerable decrease in quotes, positive impact on the commodity market players will have a mixed dynamics of trading on Asian exchanges. At the same time, obvious is the fact that a key driver for the raw areas remains general economic background, which, in the event of further deterioration, can completely eliminate the "no" technical analysis signals. - The euro/dollar in the Asian session went down by 0.11%, leaning to the level of 1.3475. Concerns about a possible lowering of credit ratings in France are not new. Market participants act out such prospects are already in the summer, when the U.S. lost the maximum AAA rating, which at that time paved the way a decrease in some developed countries. And the first choice was France. The last jump of the sovereign bond yields only raised this possibility. Meanwhile, it became known that the ECB is to stop the widespread rise in yields over the past week bought sovereign bonds worth about 8 billion euros, most of which was sent to the Italian papers. 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 225.0 452.0 Buy +100.9 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.7 13.6 Buy +138.8 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 285.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 15.6 22.7 Hold +45 KAZKMUNAIGAZ KASE 14,400.0 20,062.0 Hold +39 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 807.5 1,427.0 Buy +77 ENRC LSE 600.0 1,216.0 Buy +103 URANIUM ONE LSE 2.3 3.3 Buy +43 Companies with small capital KAZAKHTELECOM KASE 17,720.0 - Review - STEPPE CEMENT LSE 33.0 - 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. [2011-11-22]