Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 8, 2011

/IRBIS, December 8, 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 8, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - After two fairly active sessions held, domestic investors are likely to want to pause and wait for a more fundamental news background. However, it is possible that some market participants will try to play on rise on certain securities. Perhaps this will be Kazakhmys and/or ENRC with growth potential of 0.5-1%. - At the auction on Thursday there is multidirectional movement of Asian markets. Shanghai Stock Exchange's main index, picking up the positive outcomes in the U.S., started the day in positive territory at 0.4%. Japan's Nikkei is at a pressure of negative statistics, which showed a sharp decline in production in the machinery industry and reduce the surplus balance of payments. The index now down to 0.6%. Sales in the Hong Kong stock exchange caused by the change in investor sentiment in the euro area in response to rumors that Germany was against the simultaneous work of two funds for saving. Hang Seng lost 0.7%. - Today's premarket before the opening of the main raw material sites is estimated by us as moderately negative. In addition to recent statements by RA S & P, the pressure on the commodity market players will have weak dynamics of trading observed in real time in Asia. Of course, the key factor that can determine the dynamics of today's trading will be forthcoming EU summit, from which market participants are expecting the adoption of fateful decisions. - The euro/dollar is slightly below $ 1.34. The pressure on the single currency has a forthcoming meeting of the ECB, which will be announced after the decision on base interest rate. The market expects to reduce the refinancing rate from 1.25% to 1%, believing in the Bank's desire to help in this way are experiencing difficulties European economies. However, investors are more interested in the possible plans for the regulator to increase purchases of sovereign bonds in order to reduce the pressure on profitability. 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 +103.3 KAZKOMMERTSBANK KASE 235.0 452.0 Buy +92.3 KAZKOMMERTSBANK -PREF KASE - 226.0 Buy - HALYK BANK-GDR LSE 5.7 13.6 Buy +138.6 HALYK BANK KASE 220.0 474.0 Buy +115.5 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 285.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 16.0 22.7 Hold +42 KAZKMUNAIGAZ KASE 14,700.0 20,062.0 Hold +36 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 941.0 1,427.0 Buy +52 ENRC LSE 682.0 1,216.0 Buy +78 ----------------------------------------------------------------------- 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. [2011-12-08]