Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for November 28, 2011

/IRBIS, November 28, 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 28, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - Starting a new week for the market of risky assets has developed favorably, as evidenced by Asian reversal of stocks, commodities and the euro. This positive trend will stimulate bullish sentiment on the local auction, where, apparently, there will be a good growth of quotations of greatly oversold equity securities of the banking and resources sector. KASE index on the session could grow by 1-2%. - Most Asian stock markets today were developed and demonstrated an optimistic move up on the Sunday news from Europe. The composite index of Shanghai Stock Exchange shows the growth of just over 0.1%, while the Nikkei and Hang Seng added 1.7% and 1.9% respectively, with the support of the banking sector and stocks of raw materials producers. As it became known at the weekend, the IMF can provide financial assistance to Italy, which remained under heavy pressure rising yields of sovereign debt securities. The weakening of the yen has provided support to the quotations of Japanese exporters. Rise in price of shares of some automakers stimulated by reports of a possible transfer of production to neighboring countries in order to reduce currency risks. - Today's premarket for raw materials sites is estimated "BTA Securities" as moderately positive - in addition to the factors of technical analysis, suggesting some correction quotes commodity assets, the positive effect may also be due to a good start trading on Asian exchanges. In general, there is the presence of a maximum level of correlation of the players from raw materials sites with the actions of their colleagues on the stock and currency markets. - The euro/dollar in the Asian session unfolded with stock indices and adds 0.4%, approaching a mark of 1.329. According to the latest European authorities over the weekend agreed on the necessary measures to enhance the stabilization fund EFSF. In particular, have been approved through the fund launched assurance mechanisms, the possibility to implement the EFSF purchases of sovereign bonds. Established and the rules that will provide loans of the Fund to individual countries. Meanwhile, the publication of Dow Jones Newswires reported that the IMF can provide 400 to 600 billion euros in financial aid to Italy under 4-5% per annum. These tools give the new government of the country for 12-18 months performance measures of the budget savings. The head of the Bundesbank, Germany did not rule out the possibility of issuing unified Eurobonds if the EU policy to agree on this issue, but warned that it may not lead to the desired reduction in yields on government debt market, while disproving the idea of launching by the European Central Bank printing apparatus. 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 2.9 6.2 Buy +113.8 KAZKOMMERTSBANK KASE 221.1 452.0 Buy +104.5 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.7 13.6 Buy +138.6 HALYK BANK KASE 208.6 474.0 Buy +127.2 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 280.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 15.0 22.7 Hold +51 KAZKMUNAIGAZ KASE 13,600.0 20,062.0 Hold +48 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 805.0 1,427.0 Buy +77 ENRC LSE 600.5 1,216.0 Buy +102 URANIUM ONE LSE 2.2 3.3 Buy +50 Companies with small capital KAZAKHTELECOM KASE 17,500.0 - Review - STEPPE CEMENT LSE 34.3 - 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. [2011-11-28]