Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 12, 2011

/IRBIS, December 12, 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 12, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background formed positive for shares of Kazakh issuers. Among the potential leaders of today's growth likely to be the representatives of the mining and metallurgical sectors - Kazakhmys and ENRC - rally for which may be more than 2%. Good Friday drawdown increases the attractiveness of the banking securities. - Most Asian stock markets, picking optimism from American and European trading today show positive movement of major indexes. Support for quotes and exporters have positive macro data from the U.S. Indices Hang Seng and Nikkei added 1.4% and 1.6% respectively. In favor of investors were securities of the commodity sector. Meanwhile, bearish sentiment is prevailing on the stock market of China, where Shanghai index now in negative territory at 0.5%. - Premarket for the main commodity assets can now be evaluated as moderately positive - in addition to the optimistic end of the week on the main western areas, support for the players on the rise was also provided by generally positive trading in Asia. We should also note the fact that despite the generally unfavorable general economic background, a number of representatives of primary sites may be up to the end of the year to show at least some semblance of Christmas "rally." - The euro/dollar in Asian trading with decrease of 0.4%, below the 1.334. Such negative in general is associated with pessimistic expectations of market participants regarding the publication of statistics this week from Europe, which can show the reduction of investor confidence in Germany before the three-year lows. Moreover, the coming auction on placement of French and Italian short-term debt in amount of EUR 13.5 billion also adds no optimism. 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 225.0 452.0 Buy +100.9 KAZKOMMERTSBANK -PREF KASE - 226.0 - - HALYK BANK-GDR LSE 5.6 13.6 Buy +142.4 HALYK BANK KASE 209.0 474.0 Buy +126.8 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy - HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 285.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 16.1 22.7 Buy +41 KAZKMUNAIGAZ KASE 14,650.0 20,062.0 Buy +37 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 943.0 1,427.0 Buy +51 ENRC LSE 685.0 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. [2011-12-12]