/IRBIS, July 29, 2010/ - JSC Finance Company REAL Invest.kz (Almaty, REAL Invest.kz) provided to IRBIS overview of major developments in Kazakhstan and the world markets on July 29, 2010.

JSC Finance Company REAL Invest.kz notes the following significant developments on the world stock, commodity and currency market:

- U.S. and European indexes finished the day lower. Reducing the total orders for durable goods in the U.S. and record Fed "Beige Book" became the main reasons that caused a record profit. Data on orders for durable goods were issued one hour before the opening of the American sites, and occurred on June decline by 0.2%, instead of the expected growth of 1.2% was the reason for a negative conclusion of trading in Europe and a weak opening sites in the U.S.. Report of the Fed, traditionally published in two hours before the closure of the U.S. trading session, this time was painted a moderately negative tone - well, according to a report in the U.S. economy stagnates, in particular, on the face of declining sales of cars, the overall decline in the production and the stagnation of the real estate market. Much of the decline of American sites had just the afternoon, so after Beige Book, indexes, hold it near floating grades have declined on average by half a percentage point.

- platforms of emerging markets again finished the day different directions. Brazil's Bovespa, the Indian BSE and the Russian RTS added on the day 0.4% 0.3% and 0.9% respectively, China Shanghai Comp fell by half a percentage point. Because of the factor time zones, areas of emerging economies have not played yesterday, negative, caused by the publication of weak macroeconomic reports and report the Fed, and probably will address this now.

- Wednesday proved to be quite busy at the event day for a barrel of oil - after not too successful attempts to increase at the beginning of the day, took reduction of quotations by more than half a percent, but closed the day held at approximately the level of discovery. Thus, the previous day did not introduce certainty regarding the future prospects of oil prices - the level at $ 77 and was not traversed in any one or the other way.

- indistinct get the day and an ounce of gold - to change the quote on the day of 0,4% is not significant, but analysts of "REAL Invest.kz" highlight the fact that the quotes are still below the lower boundary of the recent local price range.

- completely unproductive can be called the previous day for the two major currency pairs EUR/USD and GBP/USD, which throughout the trading session were in the lateral range, without having to make significant effort to overcome the current levels that may be associated with a fairly negative dynamics observed in the stock sites are not allowed the euro and British pound continue upward momentum of recent days. If the assumption is "REAL Invest.kz" probably should expect growth of quotations called currency pairs, in the event of a return of optimism on the stock and commodity platforms.

Analysts JSC "Finance Company" REAL Invest.kz" also notes the following major developments in the Kazakh market:

- The International Monetary Fund (IMF) expects the current year in Kazakhstan, the economic growth at 4.1%. However, the situation in the economy and especially in the banking sector remains difficult. This is evidenced by a press release circulated by the IMF on a regular annual review of the Kazakh economy based on the 4th article of the Charter of the Fund.

- JSC Exploration Production KazMunaiGas including shares in the companies' Kazgermunai (MAG), CCEL and PetroKazakhstan Inc. (CRP) in the first six months of 2010 has extracted 6,283 tones of oil (257 thousand barrels per day ), which is 610 thousand tons, or 11% more than during the same period in 2009, the company said. According to the report, the increase in production due, mainly, by the proportion in the production of PetroKazakhstan, this amounted to 733 thousand tons. Analysts of REAL Invest.kz believe that the news was quite expected by the market and will not affect the share prices of KMG EP.

- judicial decisions with the Kazakh oil company Karazhanbasmunai, 50% owned by KMG, the state revenue assessed additional customs duty on crude oil and fines totaling KZT5.2 billion. The company is accused of violating the customs clearance and collection of customs duties on imports and exports of petroleum and petroleum products. Analysts of REAL Invest.kz do not expect a negative impact on share prices KMG.

Analysts of "REAL Invest.kz" noted that the most attractive stories among the shares of Kazakh companies are RD Kazmunaigas, Kazakhtelecom and Halyk Bank. Especially attractive look and EP Kazakhtelecom, as both companies are very strong balance sheet with low debt burden, the EP's net debt at all negative, ie cash flows of the company exceed liabilities. Besides their business generates more free cash flow, which allows them to pay a very solid dividends. Dividend income on preferred shares of KMG and Kazakhtelecom is 6-8% and 3- 4% of ordinary shares. Shares of these companies are traded much cheaper than the shares of similar companies in other emerging markets.

This material is for informational purposes and is not an offer or recommendation to perform any transaction in securities. Agency IRBIS is not responsible for the opinions expressed in this material.

[2010-07-29]