/IRBIS, September 9, 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 9, 2010.

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

• Bidding on the main market of USA and Europe once again resulted in a moderate growth. Successful placement of government bonds of Portugal, as well as statements by leading U.S. economists that, despite the apparent slowdown in global economic recovery, prospects for the beginning of the "second wave" of recession is still very small - the factors that supported the Western codes. The economic slowdown of U.S. noted Fed. officials too, however, given that the statements of Mr. Bernanke were quite restrained, the outcome of the publication "Beige Book" market participants rated as moderately positive. Today in the U.S. are data from the labor market and changes in trade balance, which, of course, will come under scrutiny of market participants.
• codes of emerging markets have completed the past trading day for the most part on the negative territory, adding a bit of market capitalization, only the Indian BSE, though we note that a decrease in the indices were quite modest, and given the traditionally high volatility of the regional indices with the final result at the level of -0.1 pp - Actually more than modest. Today's ambient background for sites emerging markets analysts of "REAL Invest.kz" regard as moderately positive - as a supporting factor can make the dynamics of commodity quotes, a restraining influence on regional areas can have a lowering of growth forecasts for the end of this year the U.S. economy.
• The cost of a barrel of oil added about $ 1, which is equivalent to 1.3 percentage points. During the session itself quotes "black gold" have reached a mark of $ 75 per barrel, but a foothold above the important psychological level still failed. From the perspective of technical analysis, it is important to overcome the mark of $ 75, focus on a resistance level of the last two weeks, but even when taking the turn, saying the resumption of the uptrend will be soon.
• troy ounce of gold during the session reached a historic high levels at around $ 1265, however, immediately after this quotation "precious metal" overtook correction - the predicted "REAL Invest.kz" earlier version of events, confirming the thesis that the anti- warrant "bears" were located above the level of $ 1,270 per ounce. Analysts of "REAL Invest.kz" believe that if the new attempts of traders to establish a new historic maximum end up in nothing, quote "noble metal" is expecting a protracted correction, which will be energized and more factors than a month of continued non-stop growth in the value of gold, as well as improved mood market participants caused by the publication of a number of positive macroeconomic reports.
• failure, according to "REAL Invest.kz", ended the attempt of the currency pair EUR/USD after two days of falls, go back to growth - on the day the euro added to the cost of only 0.2 percentage points, which can be viewed as a short-term correction in a downtrend. Given the fact that even a positive factor in placing state. Bonds Portugal, also suffers from excessive budget deficits, and thus being "at risk", failed to inspire traders to buy, analysts of "REAL Invest.kz" are more likely to expect in the short term, further declines in quotations of the currency pair. Few other things are added to the British pound, stray from the previous day's level of support to 1,535, and that probably allowed the currency pair GBP/USD add up to the last session, the order of 0.7 percentage points, while growth in the middle of the day reach a level of 1.1 pp Concerning the future prospects of pounds in "REAL Invest.kz" believe determines the level at around 1.55, after reaching which will become clear further prospect couples.

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, i.e. 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.

[2010-09-09]