/IRBIS, September 6, 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 September 6, 2010.

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

• the final trading session of the week for U.S. and European sites ended positively. As a result of the week also recorded growth of quotations. Publication of data from the labor market, according to which the U.S. economy in August continued to lose jobs, but more slowly than predicted, in particular, the number of jobs outside agriculture in the USA in August decreased by 54 thousand, whereas the previously reported incidence to 131 thousand, has managed to add a new portion of optimism sites. In addition, the data came from the level of unemployment in the U.S., who in August was 9.6%, as analysts predicted. Of the negative news - reducing the index of business optimism in the service sector more than the preliminary forecasts for 2.8 points, but this was no longer able to reverse the overall positive background, which provided an index growth in Europe by 0.8 percentage points - 1.1 n. subsection, the U.S. grew by more than 1.2 percentage points
• was a good week for sites emerging markets, mostly grown up over the past five trading sessions. The four BRIC finished the week with the following results: Indian BSE added 1.23 percentage points, the Brazilian BOVESPA increased by 1.66, the Chinese SSEC added to the capitalization of 1.7 percentage points, and the Russian RTS market finished the week increase by 3.23 pp Of the positive factors that influenced the course of trading, the publication of good macroeconomic data from labor markets and the U.S. real estate, as well as data on volumes of production orders. The mite has a positive dynamics of quotations of primary sites.
• The cost of a barrel of oil up to the auction last week, lost about 1 percentage point, however, if we drop the quotes in the middle of the week by over 3 percentage points, the final result seems to be less negative than it seems at first glance. Notably, and were repulsed by the prices of "black gold" from the level of support at around $ 72 and the mark of $ 75, where the focus level of resistance. In recent weeks, the dynamics of a barrel of oil to a significant extent depends on the published macro statistics that apparently will be continued at the next sessions.
• troy ounce of gold, much of the past week was very close to historic highs, but several attempts to overcome it and failed, and therefore, the analysts of "REAL Invest.kz" consider the probability of correct quotations of the noble metal in the near term, increased. One of the main factors that stalled the further growth of gold prices, a return of optimism to the market participants that is caused by the publication of a series of macroeconomic data, in part to refute the thesis of a complete halt of economic growth in the U.S. and moving the world's largest economy stagnate. In the short term, subject to no change in external factors, "REAL Invest.kz" likely sees at least a short-term correction in gold prices.
• euro-up of the week stronger against the U.S. dollar at 1.17 percentage points, while a number of remarkable - broken-off from a support level at around 1.26, and second - to end the week above the level of 1,29. The British pound, declined on early last week, more than 1 percentage point, ended the reporting week, only slightly below the opening level, which is located by the way not far from the mark of 1.55.

JSC Finance Company REAL Invest.kz notes the following significant developments on the Kazakhstan market:

- Tax authorities of Kazakhstan have begun an inspection of the MMC Kazakhaltyn "for 2007-2008, the report said KazakhGold, which includes" Kazakhaltyn. "New tax checks to the period preceding the deal to buy the shares KazakhGold Russia Polyus Gold" - noted in the report. As reported in late August, KazakhGold announced the launch of an unscheduled tax inspection "Kazakhaltyn" for the period 2009-2010. Then check did not cover the period when the company operated the Asaubaev family.

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.

[2010-09-06]