Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 1, 2011

/IRBIS, December 1, 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 December 1, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The only recommendation for today is to "buy" banking and metal chips that can show growth of at least 3%. Quotes of KMG EP will have unexpectedly negative dynamics on the cost of crude oil. KASE index on the basis of the trading session may add more than 3%. - Yesterday's rally in the stock markets of Europe and the United States continued in Asian markets. The indices Nikkei, Hang Seng and Shanghai since the beginning of the session the first day of the month have been rising by 2.2%, 5.9% and 3.3% respectively. Support for risky assets had the Fed's decision to reduce the cost of dollar interbank loans to foreign banks, in particular for financial institutions in the eurozone. Meanwhile, China's monetary authorities have announced that they plan to reduce reserve requirements by 0.5% from December 5. - Today's premarket for raw materials sites should be considered as "positive" - positive completion of trading on the principal Western sites, coupled with an equally positive on the current dynamics of trading in Asia will certainly be a strong driver to continue the positive trend of the day previous to the commodity market players. At the same time, we can not forget about the probability of a technical correction, after more than an optimistic completion of trades in commodity areas on Wednesday. - The euro/dollar in the Asian session continues to move northward, adding 0.2% and going up to around 1.347. In general, these bullish look excessive in view of the fact that central banks have turned their efforts to help banks, with the debt problems remain unresolved. Causes anxiety and the fact that the ECB's policy remains conservative. Interest rates remain above the Fed's 1 percentage point While the Fed continues to print dollars, now for the EU, the ECB has been reluctant to run QE, although by chance it happened on Tuesday. 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 221.1 452.0 Buy +104.5 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.8 13.6 Buy +134.7 HALYK BANK KASE 210.0 474.0 Buy +125.7 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 16.1 22.7 Hold +41 KAZKMUNAIGAZ KASE 13,890.0 20,062.0 Hold +44 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 925.0 1,427.0 Buy +54 ENRC LSE 664.5 1,216.0 Buy +83 URANIUM ONE LSE 2.3 3.3 Buy +43 Companies with small capital KAZAKHTELECOM KASE 17,500.0 - Review - STEPPE CEMENT LSE 34.5 - 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. [2011-12-01]