Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 22, 2011

/IRBIS, December 22, 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 22, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - The external news background today formed moderately negative. Perhaps some investors decided to fix part of the profits, in particular, Kazakhmys, even despite moderate increase in the cost of copper contracts in London. Banks appear to once again be closed in different directions. Kazkom can add about 1%. The rise in the oil market should support quotations of KMG EP, the growth potential of which is about 0.7 - 1.3%. - Today, most Asian stock exchanges are under the influence of pessimistic sentiment on the results of the tender the ECB settled in the red zone. Some investors, after rising a day earlier decided to record profits. Trading volumes are currently low on the eve of celebrations and vacations of many market participants. The indices Nikkei, Hang Seng and Shanghai went down by 0.7%, 0.5% and 0.4% respectively. - Today's premarket before opening of trades on major commodity markets is regarded by us as "negative". Thus, in our opinion, the impact from the implementation of the auction on placement of liquidity will be "bearish", besides the fact that the ECB actions characterize the seriousness of the situation, the pressure on the players will also support the fact that these 500 billion euros is not enough to solve the accumulated European banks have problems, whereas there are particularly no funds left for additional support, both in EU member state and the majority of the world as a whole. - The euro/dollar in Asian trading continues to be near 11- month lows, trading at around 1.3045, on the eve of the speech of the Chairman of ECB Mario Draghi. The pressure on the single currency is also put by first signals of a possible onset of recession in Italy, where the GDP growth rate showed negative trend of 0.2% in the third quarter of this year. Today, the U.S. published a number of key statistics, among which worth noting is the revision of GDP data and consumer confidence index from Michigan. So far, euro sales stimulate decline in demand in the Asian market of shares. 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 2.4 6.2 Buy +162.7 KAZKOMMERTSBANK KASE 192.6 452.0 Buy +137.9 KAZKOMMERTSBANK -PREF KASE 142.0 226.0 Buy 59.2 HALYK BANK-GDR LSE 5.5 13.6 Buy +147.3 HALYK BANK KASE 210.0 474.0 Buy +123.6 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy - HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 251.5 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 15.5 22.7 Buy +51 KAZKMUNAIGAZ KASE 13,380.0 20,062.0 Buy +50 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 885.5 1,427.0 Buy +61 ENRC LSE 622.5 1,216.0 Buy +95 ----------------------------------------------------------------------- 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. [2011-12-22]