/IRBIS. September 7, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for September 7, 2010.

Analysts of JSC "BCC Invest" now expect mixed multidirectional opening trades at KASE on a neutral external background. Further, during the day dynamics of trades at KASE will depend on investor sentiment in global financial markets.

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

- net international reserves of National Bank of Kazakhstan in August decreased by 3.09%, the assets of the National Fund of Kazakhstan - have grown by 5.14%. At the end of August 2010 net international reserves of National Bank of Kazakhstan amounted to 26,911 million U.S. dollars (-3.09% per month and +16.54% YTD), the assets of the National Fund of Kazakhstan - 28 397 million USD (+3.09% per month and +16.53% YTD).

- Sept. 8 will be held on KASE repeated specialized auction on placement of government treasury bonds, Ministry of Finance of the Republic of Kazakhstan MEUKAM-84 Issue 8 with maturity of 7 years (2,520 days) and frequency of coupon 1 time per year. Declared amount of placement - 10 billion tenge.

- The Monday, September 6, ZhaikMunai LP, released financial and operational results for the 1st half of 2010. Revenue ZhaikMunai LP for the 1st half of 2010 grew by 67% compared to the 1st half of 2009 and by 5% compared with the 2nd half of 2009 and totaled $ 74,654 thousand. Revenue growths primarily occurred mainly due to growth in world oil prices and reduce the discount, while output remained virtually the same level - 7,261 barrels per day. Operating profit was $ 36,745,000 (311% G-to-G and 33% P-to-P), net profit - $ 19,577 (in 1P2009 - loss of $ 20,101 thousand). The company also announced that completion of the gas processing plant (GTU) is expected by the end of September, and the commercial launch - to the end of the year. According to analysts of JSC "BCC Invest" the message is neutral Quotes GDR ZhaikMunaiLP, since it corresponds to the expectations of the market. However, the message of the starting GTU may catalyze the growth of quotations GDR ZhaikMunai LP. Analysts of JSC "BCC Invest" reaffirm the recommendation of the "hold" on the GDR ZhaikMunaiLPs target price of $ 8.70 per GDR.

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

- Analysts of JSC "BCC Invest" now expect a neutral opening of trading on the Russian stock market - trading session in Europe on Friday ended with a slight increase on the major indexes this morning, futures for U.S. indices in a small plus in Asia have mixed trends. Further, during the day analysts of JSC "BCC Invest" does not expect a pronounced dynamics on the Russian stock market-out of major macroeconomic statistics is not expected.

- in Europe today is not expected to publish significant macroeconomic statistics.

- Today in the U.S. publication of major macroeconomic statistics is not expected.

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           395    479           +21.27 Neutral
                  KKGBp          242    335           +38.43 Buy
Halyk Bank        HSBK           313    386           +23.32 Buy
Bank CenterCredit CCBN           548    646           +17.88 Hold
Tsesnabank        TSBN           960  1,030            +7.29 Neutral
KazMunaiGaz       RDGZ        15,900 22,300           +40.25 Buy
Kazakhmys PLC     GB_KZMS      2,840  3,392           +19.44 Hold
ENRC PLC          GB_ENRC      2,000  2,858           +42.90 Buy
Kazakhtelekom     KZTK     14,279.99 19,200           +34.45 Buy
                  KZTKp        6,750  9,300           +37.78 Buy
MREK              MREK         1,100  1,130            +2.73 Hold
----------------------------------------------------------------------

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.

[2010-09-07]