/IRBIS, June 30, 2011/ - "RESMI" Financial & Investment House" JCS (Almaty, "RESMI" FIH) has provided IRBIS with the review of key events and its investment ideas and forecasts for June 30, 2011

The "RESMI" FIH analysts pay the investors' attention to the following key events on the markets:

- Sales of existing homes in the U.S. m/m increased by 8.2%, while expectations of growth at 3%. This is encouraging, given the negative picture of recent months on the real estate market.

- Consumer Confidence in the eurozone fell by 9.8 points, with expectations of a reduction of 10 pts;
- Industrial production in Japan increased by 5.7%, with expectations of an increase of 5.5%.

- Yesterday's parliamentary vote in Greece's adoption of a plan to reduce government spending was a success, despite the rather sharp opposition in the parliament, where the ratio of the two parties is about one to one. Thus, the plan will be launched, which includes, in addition to reducing the expenditure side, as the sale of state assets, resulting in a plan to rescue / save nearly 78 billion euros. But the most important at the moment is that Greece will be moved to the next tranche of 12 billion euros, which will enable it to respond to its obligations in July. Against the background of the euro has strengthened by news against the dollar (see chart). Analysts of FIH "RESMI" expected to strengthen further next week, during a meeting of the ECB, which is expected to rise to consensus refinancing. These expectations are supported by the rhetoric of the ECB Jean- Claude Trichet, in which he states that the organization retains a high vigilance against inflation.

- Yesterday, 29 June, two leading Russian stock exchanges MICEX and RTS have signed an agreement to merge. Shareholders of the Russian stock exchanges have agreed to merge earlier this year, but fear prevented the registration of the MICEX on the fact that the shareholders of the RTS can then create an alternative trading platform based on the RTS with its brand. The deal to unify exchange is scheduled to close in late 2011. MICEX RTS will buy a controlling stake from its shareholders for $ 1.15 billion, which includes a premium of 37%. 35% will be paid in cash and 65% of the shares of the MICEX, that is, shares in the merged exchange. The Central Bank will leave the capital of the merged company in two years. MICEX Group has received approval of five major shareholders to sell shares of PTC at the beginning of February. Agreement to sell shares gave the group "Renaissance Capital", Alfa-Bank, "Troika Dialog" and DaVinci Capital, representing the interests of the funds. Together, they own more than 53% of the capital Rs. Later MICEX can buy shares and other shareholders. Joint Board of the MICEX Stock Exchange led by the head of Ruben Aganbegyan and CEO of PTC's novel Goryunov take the post of first deputy. The first IPO to be held in the first quarter of 2013. During the placement of Exchange plans to raise at least $ 300 million merger of exchanges due to the desire of the Russian authorities to develop the market infrastructure to attract investors and create a future international financial center. After completing the merger the combined market will be the largest in the CIS and Central Asia.

Analysts of "RESMI" FIH give the following advice for investors in securities of issuers in Kazakhstan:

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                  Last. Prognozed.  Up/down from
Issuer            price     price* current price
---------------- ------ ---------- -------------
Kazkommertzbank     400        528           32%
Halyk bank          321        519           62%
BankCenterCredit    490        921           88%
EP KMG           17,200     23,490           37%
Kazakhtelecom    19,550     26,300           35%
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*   Fundamental assessment of "RESMI" as of the end of the year
**  Targets according to the prognosis of the analysts asked by Bloomberg
*** Relative strength index - an indicator of technical analysis, which
determines
strength of the trend and the likelihood of change. Overbought / oversold -
when the
value of the RSI indicator is closer to the mark of 100% / 0%

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

[2011-06-30]