Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 15, 2011

/IRBIS, December 15, 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 15, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The collapse of quotations on the market today, put in jeopardy shares of domestic mining companies. This extremely negative background will allow certain players to push some issuers' quotations to the required minimum, which will result in large-scale purchases. Upcoming holidays increase the likelihood of a significant drawdown. Thus, raw materials makers may be in the red for two percents or more, and KASE index on the day went down at 1.3-2%. - Most Asian stock markets today continue to show bearish trend. Together with the European panic pressure on the Asian market has slowing manufacturing activity in China, as evidenced by the decrease in the index of purchasing managers (PMI) from HSBC to 49 points. Commodities collapse puts pressure on commodity companies, who were leaders of the fall. The indices Nikkei, Hang Seng and Shanghai fell today by 1.2%, 1.9% and 1.1% respectively. - Today's premarket for primary sites should be assessed as negative - the negative dynamics of trading in Asia, together with weak end of the session in the U.S. and Europe, obviously, will act as a significant driver for the decline in commodity assets at least at the start of today's trading. It should be noted that the factor of fear around the debt problems of the eurozone by the end of the year, obviously, will be key as to the representatives of stock exchanges and commodity traders to the market. Metals today are still in the red, meanwhile, players try to play for Brent on the rise. - The euro/dollar in Asian trading tries to make a rebound from almost annual lows, helped by factors of technical analysis indicating a significant oversell of single European currency. However, today the upcoming auction of Spanish government debt constrains growth. Additional pressure on the course had the expected PMI data for Germany, which is projected to decrease to 47.5 points - the minimum rate since July 2009. 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 2.8 6.2 Buy +125.5 KAZKOMMERTSBANK KASE 220.0 452.0 Buy +105.5 KAZKOMMERTSBANK -PREF KASE n/a 226.0 - - HALYK BANK-GDR LSE 5.4 13.6 Buy +154.2 HALYK BANK KASE 206.0 474.0 Buy +130.1 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy - HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 265.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 15.2 22.7 Buy +49 KAZKMUNAIGAZ KASE 14,000.0 20,062.0 Buy +43 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 846.5 1,427.0 Buy +69 ENRC LSE 611.0 1,216.0 Buy +99 ----------------------------------------------------------------------- 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. [2011-12-15]