Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 2, 2011

/IRBIS, December 2, 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 2, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background as a whole is moderately negative. It is expected that the quotations for a locale to demonstrate bipolar dynamics. Fixing of profits is available for bank chips at 0.8 - 1.4%. A slight drawdown of securities of Kazakhmys and ENRC in London can be repeated at KASE. Recommendation of the date of purchase is KMG EP, quotes of which could add more than 1.5%. - Today, Asian stock indexes moved in different directions, while trading is sluggish enough in advance of key macro data from the U.S. labor market. The growth of quotations of securities occurs on the oil with the support of the cost of a barrel of WTI at $ 100, and shares of retailers on the background of the upcoming holiday shopping. Japan's Nikkei in positive territory at 0.34%, Hang Seng Indexes and Shanghai are down 0.4% and 1.5% respectively. - The situation before today's opening of the raw sites is estimated by us as a moderately negative: indistinct end of trading in the U.S. and Europe, together with mixed dynamics of trading in Asia are factors that can give a "bearish" commodity market impetus for revitalization. In addition, a significant increase from previous days will necessitate a "technical correction", with the TA instruments have a significant impact on the commodity market traders. - The euro/dollar in the Asian session is held at yesterday's close 1.346 on the eve of the data on employment growth outside of US agricultural sector. According to experts, the company in November hired 125 th. people, more than 40 thousand more of the previous month. The unemployment rate has not changed in the meantime - 9%. - Today the speech of Angela Merkel is also expected, who, apparently, will speak on the steps necessary to ensure that Germany agreed to a fiscal full integration of members of the eurozone. The French authorities in the meantime are against the transfer of control over their own fiscal policies to the EU. President of the ECB announced that the bank may provide more substantial help in solving debt problems, but only in the case of agreements to tighten fiscal rules and governmental commitments of the member states of the monetary union. 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 +110.2 KAZKOMMERTSBANK KASE 230.0 452.0 Buy +96.5 KAZKOMMERTSBANK -PREF KASE 156.2 226.0 Buy +44.7 HALYK BANK-GDR LSE 5.7 13.6 Buy +138.8 HALYK BANK KASE 218.1 474.0 Buy +117.3 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 17.2 22.7 Hold +32 KAZKMUNAIGAZ KASE 13,890.0 20,062.0 Hold +44 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 918.0 1,427.0 Buy +55 ENRC LSE 662.0 1,216.0 Buy +84 URANIUM ONE LSE 2.4 3.3 Buy +41 Companies with small capital KAZAKHTELECOM KASE 17,500.0 - Review - STEPPE CEMENT LSE 34.8 - 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. [2011-12-02]