Market reviews from analysts of FIH "RESMI" (Kazakhstan) for January 16, 2012

/IRBIS, January 16, 2012/ - "RESMI" Financial & Investment House" JCS (Almaty, "RESMI" FIH) has provided IRBIS with the review of key events and its investment ideas and forecasts for January 16, 2012 The "RESMI" FIH analysts pay the investors' attention to the following key events on the markets: - Rating agency Standard & Poor's lowered the credit ratings of the nine countries in the Eurozone. In particular, ratings of France and Austria, whose previous rating was at the highest possible level "AAA", were downgraded. The new values of their ratings are set at "AA +" with a negative outlook, which means further reductions in the future. Ratings of Italy and Spain were reduced by two points, from "A" to "BBB +" and from "AA-" to "A". Outlook for them is also declared as negative. Germany is now the only country in the euro area with the highest rating of AAA, which does not any doubt for S & P. Top marks were retained by Finland, Holland and Luxembourg, but the outlook for them is negative. - President Barack Obama on Friday, January 13 addressed to Congress to give him the right to combine six government departments into one in order to achieve budgetary savings. If approved, the initiatives by the Congress, the United States for 10 years can save on costs about $ 3 billion According to a source of AR, the reform provided for the gradual reduction of one to two thousand jobs. - KazMunayGas Exploration Production JCS (KAZ LN) in 2011, mined 12.341 million tonnes of oil(250 thousand barrels per day), which is 944 thousand tons, or 7% less than in 2010. Production branch "Ozenmunaygaz" for the year got more than 5 million tons of oil. "Embamunaygaz" about 3 million tons. Already this year, KMG plans to increase its consolidated oil production by 6% and invest in the production of $ 852 million, higher than the projected spending for 2011 by 19%. Growth capital expenditures primarily due to increased spending on exploration and increase the cost of creating additional service businesses. The company is planning to invest about $ 64 million to continue exploration work on Fedorovskoye block in which the company holds a 50% stake. In addition, at the end of last year the company was instructed state agencies to work to create jobs to improve the social situation in Mangistau region. Thus, the Board of Directors of KMG EP has decided to create two new service companies, shipping and drilling with total staff strength of more than two thousand people who will provide services to KMG EP and other companies working in Mangistau region. - First Solar Co. (FSLR). Power of production of electricity by solar cells increased by 54% to about 28 GW. through the development of this growing back in Germany and Italy. PV capacity has risen to 26.5-29.4 GW, compared with last year's 18.2 GW. In turn, the Governments of Germany, Italy and the UK maintain their subsidies for this sector in an attempt to reduce the cost of PV-panels, which surged on news of preferential tariffs granted. - Caterpillar (CAT US). Analysts at Barclays Capital raised the price target on shares of Caterpillar from $ 115.00 to $ 128.00. In turn, analysts at Bank of America reiterated "neutral" rating on shares of the company. Fixing the target price at $ 113.00 per share. Morgan Stanley analysts say the paper is overvalued and set the target price at $ 125.00. - Oracle (ORCL US). French antitrust authorities refused HP's request to force Oracle to renew the support for the Intel Itanium. In addition, the vendor was rejected on the motion to force Oracle to revise the scheme of licensing its software for systems based on Itanium, where it costs the customer more expensive than systems based on processors with x86-architecture. Termination of support Itanium processors and the creation of less favorable licensing terms under which Oracle announced its decisions in late 2010, shortly after it acquired the company Sun Microsystems, and was able to develop their own server-side direction. Then, simultaneously with the release of new server processors, Sparc, Oracle doubled the licensing factor (processor core factor) for the new processors Intel Itanium 93xx - from 0.5 to 1. From this point of the system based on this processor demanded twice more licenses than ever before. Their current refusal to meet the requirements of HP France antitrust authorities explained by the fact that actions of Oracle are not found as direct threat to the company. In this case, as reported by eWeek, they stated that, despite the decisions taken they will continue to investigate complaints against HP, accusing Oracle in breach of competition rules. The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are given in this material [2012-01-16]