/IRBIS. August 26, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for August 26, 2010.

Analysts of JSC "BCC Invest" now expect mixed opening trades at KASE on disadvantaged background. Then, as yesterday, during the day, trading dynamics will depend on investor sentiment in the western areas.

JSC BCC Invest also note the following important events in the kazakh market:

- Ministry of Finance of Kazakhstan placed on the KASE on August 25 14.0 million MEUKAM-132 of the second issue under 5.96% per annum. August 25, 2010 in the trade system of KASE, a specialized auction on placement of government treasury bonds, Ministry of Finance of the Republic of Kazakhstan MEUKAM-132 Release 2 with a maturity of 11 years (3,960 days) and frequency of a coupon payment every year. The volume of requests met $ 14 million bonds worth KZT14 billion (100% of plan), coupon rate (yield to maturity) - 5.96% APR. In total active bids on pension market entities had 57.7%, the share of Kazakhstan's second-tier banks (BWI) - 24.3%, customers BWI - 0.2%, broker-dealers - 3.6%, their customers - 14.2%. According to data of the Central Securities Depository all deals on accommodation MEUKAM-132 second edition by the end of calculations based on trades executed. 73.8% of the total volume of placed bonds purchased by entities pension market, 17.3% - BWI, 0.7% - clients of BWI, 1.6% - broker-dealer companies, 6,6% - clients of broker-dealer companies.

- Moody's affirmed the ratings of the People's Bank raised the outlook to "stable". Moody's Investors Service confirmed the ratings of People's Bank deposits in domestic and foreign currency senior unsecured debt at "Ba2", financial stability - at the level of "D-". At the same outlook on the ratings upgraded from "negative" to "stable", said the rating agency. Changing the forecast, explained in the report, reflects the stabilization of the credit policy Kazakh bank. This, in turn, caused the gradual rehabilitation of Kazakhstan's economy, strengthening the position of the People's Bank at the local lending market, good liquidity and the lack of significant commitments to repay debts in the next few years. According to JSC "BCC Invest", the message is neutral for the stock price and depository receipts of JSC Halyk Savings Bank of Kazakhstan ", since it corresponds to the expectations of the market. Analysts JSC "BCC Invest" reaffirms its recommendation "buy" on ordinary shares and depositary receipts in Bank's target price KZT386 per share and $ 10.50 per GDR.

JSC BCC Invest also note the following important events in world market:

- in Russia is expected to yield data of op international reserves in the country's U.S. dollar last week. In the corporate sector today is expected to yield financial report for the second quarter, the company OJSC "Mobile TeleSystems" by US GAAP. At the opening of trading on Thursday are expected neutral mood in the market. The external background from Asia at the moment does not contribute significant purchases or sales, and yesterday's closing trades in the U.S. also proved to be moderate.

- in Europe, will the index of consumer confidence in Germany in September. In the UK, is expected to yield an index of home prices in August, and the index of retail sales over the same period. Also, today is expected to announce financial report for the first half of the company Kazakhmys PLC.

- in the U.S. is expected to announce regular weekly unemployment data.

Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market:

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Issuer                    Last price Target Predicted price.
                  code                price                % Recom-
                                                             mendation
----------------- ------- ---------- ------ ---------------- ---------
Kazkommertsbank   KKGB           379    479           +26.39 Neutral
                  KKGBp          242    335           +38.43 Buy
Halyk Bank        HSBK           312    386           +23.72 Buy
Bank CenterCredit CCBN           530    734           +21.89 Buy
Tsesnabank        TSBN           960    737           -23.23 Cut
KazMunaiGaz       RDGZ        16,300 22,300           +36.81 Review
Kazakhmys PLC     GB_KZMS      2,585  3,392           +31.22 Hold
ENRC PLC          GB_ENRC      1,900  2,858           +50.42 Buy
Kazakhtelekom     KZTK        13,801 19,200           +39.12 Buy
                  KZTKp        7,250  9,300           +28.28 Buy
MREK              MREK         1,100  1,130            +2.73 Hold
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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 in given material.

[2010-08-26]