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:
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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
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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]