Forecasts and recommendations of analysts of BTA Securities (Kazakhstan) for January 12, 2012

/IRBIS, January 12, 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 12, 2012. According to the report, analysts note that the premarket on world markets is composed as follows: - Correction of the oil market and some pessimistic expectations on today's news background from Europe have increased the probability of prevailing bearish sentiment on the local auction. KMG EP is now in the area of risk. Profit can pass on the securities of Kazakhmys. Banks in general, again show multidirectional movement. Resumption of growth on the shares of Kazakhtelecom is possible. - Most Asian stock indexes are now settled down in the red zone under pressure from macro data from China, where annual inflation rate in December was 4.1%. However, compared with the November statistics, consumer price index fell by 0.1 percentage points Japan's current account surplus down to a number of the ninth month, falling to 85.5% in November by decline in exports and increase imports of energy resources. The indices Nikkei, Hang Seng and Shanghai 0.9%, 0.1% 0.2% respectively. Not in favor of risky assets are the upcoming events in Europe, expectations are pretty pessimistic. - Today's premarket for trading before the opening of the major commodity areas is rated as "moderately negative", pressure on market participants will have both weak closing of stock exchanges, as well as uncertainty about the geopolitical situation in the Persian Gulf. - The European currency is now trying to make a rebound from 16-month lows after the fiasco of the previous day. EUR/USD is gaining 0.10%, reaching 1.272 in advance of auctions on placement of sovereign bonds in 5 and 12 billion euros, respectively, held by Spain and Italy, and the ECB interest rate, which is likely to remain at level 1 %. Today also publishes data on industrial production in the euro area, the volume of which, according to experts, decreased by 0.3%. Meanwhile support for the euro is being provided by statements Angela Merkel that Germany may provide more funds to the Fund for Saving the ESM. Moreover, the Federal Chancellor praised Italy for the rapid implementation of economic and fiscal reforms. 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 +118.9 KAZKOMMERTSBANK KASE 230.5 452.0 Buy +95.7 KAZKOMMERTSBANK -PREF KASE 142.0 226.0 Buy +59.2 HALYK BANK-GDR LSE 5.1 13.6 Buy +173.1 HALYK BANK KASE 203.0 474.0 Buy +139.4 HALYK BANK -PREF (HSBKP) KASE n/a 237.0 Buy - HALYK BANK -PREF1 (HSBKP1) KASE n/a 237.0 Buy - BANK-CENTER-CREDIT KASE 260.0 - Neutral - -------------------------- ---- -------- ------------ --------- ------- Oil-and-Gas ----------------------------------------------------------------------- KAZKMUNAIGAZ-GDR LSE 14.9 22.7 Buy +72 KAZKMUNAIGAZ KASE 13,550.0 20,062.0 Buy +69 ----------------------------------------------------------------------- Metallurgy: ----------------------------------------------------------------------- KAZAKHMYS PLC LSE 1,026.0 1,427.0 Buy +38 ENRC LSE 720.5 1,216.0 Buy +69 ----------------------------------------------------------------------- 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. [2012-01-12]