Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for December 7, 2011

07.12.11 16:47
/IRBIS, December 7, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for December 7, 2011. Analysts of JSC "BCC Invest" now expect neutral opening of trades on neutral external background. Further, during the day, according to analysts, the dynamics will be mixed and multidimensional, and KASE index will, probably, end the day near the neutral point. Analysts of BCC Invest JCS note the following events on the local market: - Gold exchange reserves (GER) in Kazakhstan, including gross reserves of the National Bank and funds the National Fund, amounted by the results of November $ 75.4 billion. Last month's gold reserves of Kazakhstan grew by 0.6%, since the beginning of the year - by 27.3%, according to National Bank in Tuesday. The funds of the Republic National Fund at the end of October amounted to $ 43.270 billion. Gross international reserves of National Bank in November decreased by 1.4% (YTD increase of 13.8%) and amounted to $ 32.178 billion. Net international reserves of National Bank fell in November by 1.4%, to $ 31.617 billion (YTD increase of 14%). Government external debt service, replenishment of the National Fund assets from the accounts of foreign exchange reserves were partially offset by the receipt of currency on accounts of the Government in the National Bank and an increase in balances on correspondent accounts in foreign currency in National Bank, the report says. As a result, net foreign currency assets (NCA) in November 2011 decreased by 1.5% (YTD increase of 11.6%) to $28.145 billion, gold assets - 0.8% (32.11%, respectively) to $ 4.032 billion. Monetary base in November 2011 shrank by 3.3% to $ 2 trillion 964.3 billion KZT (from the beginning of the year - 15.2% increase). Narrow monetary base (excluding time deposits of commercial banks in National Bank) in November shrank by 1.3% to 2 trillion 836.7 billion KZT. Analysts of BCC Invest JCS expect the following developments on international markets today: - in Russia publication of data on official reserves and the consumer price index is expected. - in France at 13:45 (AST) to be published the trade balance for October. In Italy at 15:00 (AST), in the UK at 15:30 (AST) and in Germany at 17:00 (AST) will be published October data on industrial production. - In the United States at 18:00 (AST) to be published data on applications for mortgages from MBA in early December, and at night, at 02:00 (AST) - consumer lending. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: -------------------------------------------------------------- Closing Target Potential, Issuer Code price price % Recommen- dation ----------------- ------- -------- ------ ---------- --------- Kazkommertsbank KKGB 234.99 320 +36.18 Neutral KKGBp 156.20 157 +0.51 Neutral Halyk Bank HSBK 221 Review Bank CenterCredit CCBN 285 Review Tsesnabank TSBN 800 1,030 +28.75 Neutral KazMunaiGaz EP RDGZ 14,800 15,900 +7.43 Hold Kazakhmys PLC GB_KZMS 2,198.89 2,440 +10.97 Hold ENRC PLC GB_ENRC 1,604 1,900 +18.45 Buy Kazakhtelekom KZTK 17,600 27,500 +56.25 Buy KZTKp 12,503 8,900 -28.82 Sell MREK MREK 1,350 1,130 -16.30 Hold -------------------------------------------------------------- The given material has exclusively information 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 given material. [2011-12-07]