Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for January 9, 2012

/IRBIS, January 9, 2012/ - 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 January 9, 2012. According to the report, analysts note that the premarket on world markets is composed as follows: - Unexpected Friday's rally on KASE increases the likelihood of correction on the Kazakhstan stock market today. Commodities sector in international markets is in the red today, which may affect the mood of the players on the locale that wish to record profits in ENRC. Steel giant may be accompanied by Kazkommertsbank. - Most Asian stock indexes at the beginning of the new trading week are moving in a southerly direction to the unabating fears for the euro area, which exacerbates the problem of development "Greek script" in Hungary. Investors are regions picked up negative U.S. counterparts and began to sell on the background of the critical yield debt securities in Italy and the collapse of the euro to lows of 2010. Disappointed the market and statements by U.S. monetary authorities that there is no need to run a program of quantitative easing. The Nikkei and Hang Seng went down at 1% level. However, the main index of Shanghai Stock Exchange today demonstrates the rebound from the lows almost three years, recorded on Friday, adding more than 1.4%. - Today's premarket before the opening of the major commodity areas is estimated by us as "moderately negative", more like "neutral". Lack of understanding of market participants on how to assess the current situation in the global economy will obviously be kept still for a certain period of time, and, only starting on next week season of corporate reports in the U.S. and Europe, may give some impetus to traders on financial markets. - The euro/dollar today is still under pressure, dropping by 0.13% to 1.27 support level, on the eve of a meeting between the leaders of France and Germany to discuss further measures to resolve the worsening situation in Europe. The main theme of the dialogue will be new rules for fiscal policy within the approved budget pact in early December. Merkel and Sarkozy are seeking for fiscal convergence of 17 eurozone countries. Fault of correlation "strong U.S. statistics and negative dynamics of the U.S. dollar" continues. Data from the labor market provide fundamental support for the "green one". 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 240.0 452.0 Buy +88.3 KAZKOMMERTSBANK -PREF KASE 142.0 226.0 Buy +59.2 HALYK BANK-GDR LSE 5.2 13.6 Buy +164.1 HALYK BANK KASE 203.0 474.0 Buy +133.5 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy - HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 242.1 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 14.8 22.7 Buy +53 KAZKMUNAIGAZ KASE 13,750.0 20,062.0 Buy +46 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 995.0 1,427.0 Buy +43 ENRC LSE 704.5 1,216.0 Buy +73 ----------------------------------------------------------------------- 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. [2012-01-09]