Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for December 23, 2011

/IRBIS, December 23, 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 23, 2011. According to the report, analysts note that the premarket on world markets is composed as follows: - In general, the external background is positive for shares in the locale: the western areas have closed in positive territory, most industrial metals and oil becoming more expensive. It is therefore expected upward movement of share prices of mining companies. But, apparently, investors are not committing active actions on KMG EP. Therefore, candidates for moderate growth are the shares of metallurgists. Analysts of BTA Securities do not exclude certain purchase on Kazkommertsbank. - Asian investors today disagreed on the future dynamics of the stock market. Japan's Nikkei today is growing at 1% level, playing a rally in U.S. stock market and the positive macro data, supporting the quotation key exporters. Under pressure are shares of Chinese companies, in particular the financial sector and passenger transport, the growth rates of up to five-week highs in the money market and reports that public spending on the railways will be reduced by 15% in 2012. Shanghai index drops by 0.3%. - Today's premarket before the opening of the major commodity areas is rated as "moderately positive", it is obvious that the trading volume, as the commodity and the stock markets, amid festive Christmas holidays in most countries will be of sharply reduced character. Probably, the traders will prefer to remain largely outside the market, which in turn will determine the limited changes in prices. - The euro/dollar continues to try once again to resume the upward movement, adding 0.13% today, and approaching the mark of 1.306 on a quiet trading session in Asia. Western members of the currency market today have a rest in connection with the Christmas holidays, and therefore no significant movements in the market are expected. 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 +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 5.3 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 14.5 22.7 Buy +51 KAZKMUNAIGAZ KASE 13,803.0 20,062.0 Buy +50 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 926.5 1,427.0 Buy +61 ENRC LSE 630.0 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. [2011-12-26]