Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.3% to close at 11,940.0. Gains were led by the Insu...
Page 2 of 5
Qatar Market Commentary
 The QE index rose 0.3% to close at 11,940.0. The Insurance and
Transportation indice...
Page 3 of 5
farm practices, Qatar can produce five times more than the food
that is being produced currently, using the sa...
Page 4 of 5
 NCB, SPCC sign SR700mn Islamic Tayseer financing deal –
The National Commercial Bank and the Southern Provin...
Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 T...
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2 April Daily market report

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2 April Daily market report

  1. 1. Page 1 of 5 QE Intra-Day Movement Qatar Commentary The QE index rose 0.3% to close at 11,940.0. Gains were led by the Insurance and Transportation indices, gaining 1.8% and 1.3% respectively. Top gainers were Qatar & Oman Investment Co. and Qatar National Cement Co., rising 7.4% and 7.0% respectively. Among the top losers, Qatari Investors Group fell 2.1%, while Qatar German Co for Med. Dev. declined 1.6%. GCC Commentary Saudi Arabia: The TASI index rose 0.2% to close at 9,537.8. Gains were led by Hotel & Tour. and Build. & Con. indices, rising 8.3% and 0.6% respectively. Al-Tayyar Travel Group rose 10.0%, while Saudi Marketing Co. was up 9.9%. Dubai: The DFM index gained 1.2% to close at 4,576.3. The Telecom. index gained 2.0%, while the Banking Index was up 1.9 %. National General Ins. Co. surged 14.8%, while Dubai National Ins. & Reins. Co. was up 14.7%. Abu Dhabi: The ADX benchmark rose marginally to close at 4,955.1. The Services index gained 0.9%, while the Energy index was up 0.6%. National Marine Dredging Co. rose 3.5% while Abu Dhabi Aviation Co. was up 2.7%. Kuwait: The KSE index gained 0.2% to close at 7,570.5. The Basic Material index rose 2.0%, while Banking index was up 1.5%. Al-Nawadi Holding Co. gained 8.8%, while Alimtiaz Investment Co. was up 7.6%. Oman: The MSM index fell 0.4% to close at 6,798.2. Losses were led by the Financial and Services indices declining 0.6% and 0.2% respectively. Oman United Ins. fell 7.6%, while Oman National Inv. Corp. Holding was down 4.6%. Bahrain: The BHB index gained 0.3% to close at 1,364.14. The Inv. index rose 1.2%, while other indices remained unchanged or ended in red. Arab Banking Corp. gained 3.9% while Bahrain Duty Free was up 2.6%. Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD% Qatar & Oman Investment Co. 13.00 7.4 2,455.5 3.8 Qatar National Cement Co. 129.50 7.0 54.0 8.8 Ezdan Holding Group 16.72 5.1 575.8 (1.6) Gulf International Services 88.90 3.0 1,466.0 82.2 Al Khaliji 22.49 2.7 372.8 12.5 Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD% Barwa Real Estate Co. 37.90 1.1 2,658.6 27.2 Mazaya Qatar Real Estate Dev. 15.07 (0.5) 2,480.9 34.8 Qatar & Oman Investment Co. 13.00 7.4 2,455.5 3.8 Gulf International Services 88.90 3.0 1,466.0 82.2 Vodafone Qatar 12.49 0.9 1,257.1 16.6 Market Indicators 2 Apr 14 1 Apr 14 %Chg. Value Traded (QR mn) 795.7 1,042.8 (23.7) Exch. Market Cap. (QR mn) 664,462.2 661,795.3 0.4 Volume (mn) 19.5 23.0 (15.3) Number of Transactions 9,636 10,953 (12.0) Companies Traded 41 41 0.0 Market Breadth 28:13 32:5 – Market Indices Close 1D% WTD% YTD% TTM P/E Total Return 17,759.54 0.3 4.2 19.8 N/A All Share Index 3,062.52 0.3 3.9 18.4 14.9 Banks 2,920.65 0.1 4.5 19.5 14.7 Industrials 4,232.94 0.1 3.9 20.9 15.8 Transportation 2,081.96 1.3 2.9 12.0 13.7 Real Estate 2,301.50 0.6 3.8 17.8 14.8 Insurance 2,877.98 1.8 2.5 23.2 7.6 Telecoms 1,560.12 0.3 4.3 7.3 21.0 Consumer 7,019.30 0.7 1.9 18.0 30.9 Al Rayan Islamic Index 3,676.93 0.4 4.1 21.1 17.1 GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD% Al Tayyar Saudi Arabia 126.5 10.0 1015.4 47.8 Deyaar Development Dubai 1.4 8.3 350534.9 42.6 Qatar National Cement Qatar 129.5 7.0 54.0 8.8 Petro Rabigh Saudi Arabia 29.1 6.6 16268.9 20.0 Comm. Bank Of Kuwait Kuwait 0.80 5.3 5.8 8.1 GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD% Rakbank Abu Dhabi 8.5 (6.1) 277.9 19.0 National Ind. Saudi Arabia 32.4 (4.4) 3697.0 (3.3) Combined Group Cont. Kuwait 1.2 (3.3) 2.0 (7.8) Nat. Mobile Telecom. Kuwait 1.8 (3.1) 23.1 6.8 Ithmaar Bank Bahrain 0.2 (2.9) 100.0 (28.3) Source: Bloomberg ( # in Local Currency) ( ## GCC Top gainers/losers derived from the Bloomberg GCC 200 Index comprising of the top 200 regional equities based on market capitalization and liquidity) Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD% Qatari Investors Group 55.50 (2.1) 799,962.0 27.0 Qatar German Co for Med. Dev. 12.91 (1.6) 72,717.0 -6.8 Industries Qatar 186.30 (1.2) 247,018.0 10.3 Doha Bank 61.30 (0.8) 249,112.0 5.3 Mesaieed Petrochemical Holding 35.70 (0.6) 958,720.0 257.0 Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD% Gulf International Services 88.90 3.0 129,514.8 82.2 Barwa Real Estate Co. 37.90 1.1 100,940.9 27.2 Industries Qatar 186.30 (1.2) 46,270.6 10.3 Qatari Investors Group 55.50 (2.1) 45,003.3 27.0 Medicare Group 73.00 (0.1) 43,551.6 39.0 Source: Bloomberg (* in QR) Regional Indices Close 1D% WTD% MTD% YTD% Exch. Val. Traded ($ mn) Exchange Mkt. Cap. ($ mn) P/E** P/B** Dividend Yield Qatar* 11,939.95 0.3 4.0 2.6 15.0 218.50 182,461.3 15.2 1.9 4.1 Dubai 4,576.31 1.2 4.5 2.8 35.8 619.28 91,265.0 20.0 1.7 2.1 Abu Dhabi 4,955.12 0.0 2.1 1.2 15.5 170.95 131,066.0 14.8 1.8 3.7 Saudi Arabia 9,537.83 0.2 1.2 0.7 11.7 2,272.84 517,402.2 19.6 2.4 3.1 Kuwait 7,570.52 0.2 (0.2) (0.0) 0.3 132.93 116,794.4 17.0 1.2 3.8 Oman 6,798.16 (0.4) (1.8) (0.9) (0.5) 23.22 24,239.2 11.3 1.6 3.9 Bahrain 1,364.14 0.3 1.7 0.5 9.2 4.93 52,160.1 9.6 0.9 5.0 Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) 11,880 11,900 11,920 11,940 11,960 11,980 9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
  2. 2. Page 2 of 5 Qatar Market Commentary  The QE index rose 0.3% to close at 11,940.0. The Insurance and Transportation indices led the gains. The index rose on the back of buying support from non-Qatari shareholders despite selling pressure from Qatari shareholders.  Qatar & Oman Investment Co. and Qatar National Cement Co. were the top gainers, rising 7.4% and 7.0% respectively. Among the top losers, Qatari Investors Group fell 2.1%, while Qatar German Co for Med. Dev. declined 1.6%.  Volume of shares traded on Wednesday fell by 15.3% to 19.5mn from 23.0mn on Tuesday. However, as compared to the 30-day moving average of 16.3mn, volume for the day was 19.4% higher. Barwa Real Estate Co. and Mazaya Qatar Real Estate Dev. were the most active stocks, contributing 13.6% and 12.7% to the total volume respectively. Source: Qatar Exchange (* as a % of traded value) Ratings and Global Economic Data Ratings Updates Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change Takaful International Co. AM Best Bahrain FSR/ICR B++/bbb B++/bbb – Stable – Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC – Local Currency , ICR - Issuer Credit Rating) Global Economic Data Date Market Source Indicator Period Actual Consensus Previous 04/02 US MBA MBA Mortgage Applications 28-March -1.20% – -3.50% 04/02 US ADP ADP Employment Change March 191K 195K 178K 04/02 US NAPM ISM New York March 52.0 – 57.0 04/02 EU Eurostat PPI MoM February -0.20% 0.00% -0.40% 04/02 EU Eurostat PPI YoY February -1.70% -1.60% -1.40% 04/02 UK Nationwide Bldg.Society Nationwide House PX MoM March 0.40% 0.80% 0.70% 04/02 UK Nationwide Bldg.Society Nationwide House PX NSA YoY March 9.50% 9.70% 9.40% 04/02 Spain Spanish Labour Ministry Unemployment MoM Net ('000s) March -16.6 -14.5 -1.9 04/02 Japan Bank of Japan Monetary Base YoY March 54.80% – 55.70% Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted) News Qatar  MDPS: Qatar’s labor force tops 1.5mn in 4Q2013 – According to the Labor Force Sample Survey released by the Ministry of Development Planning & Statistics (MDPS), the number of economically active people in Qatar rose to 1.545mn in 4Q2013, up from the 1.482mn registered in 3Q2013. Economic dependency amounted to 32% in 4Q2013, marking a slight decrease from the 34% recorded in 3Q2013. Qatar had a working-age population (15 years+) of 1.8mn people in 4Q2013, of which 1.4mn of them were males. The Qatari working-age population was 181,000 individuals, comprising 10% of the total working-age population. Of the 1.545mn economically active people, 87% were males. The Qatari labour force had 96,000 economically active people, 67% of whom were males. The labor force’s total economic participation was 88%, of which the 25-34 age group registered the highest participation rate at 93%, while youth (15-24 years) participation was 73%. According to the survey, the monthly average salary for the total working population stood at QR10,000 for males, while it was QR8,000 for females. Unemployment among all individuals participating in the labor force was just 0.2%, but among Qatari nationals, it was 1.5%. (Gulf-Times.com)  Nick Cox-Johnson: MSCI upgrade to help Qatar lure more liquidity, build capital markets – MSCI, the global listing body, is set to upgrade the Qatar Exchange, the Dubai Financial Market and the Abu Dhabi Securities Exchange to Emerging Market status. Nick Cox-Johnson, Director MENA Investor Relations at Citigate Dewe Rogerson stated that this is a landmark event for the region and the continuing evolution of these fast-growing stock exchanges. Cox-Johnson opined that Qatar will certainly attract more liquidity and capital, which will build the country’s capital markets, encourage further share issues, and challenge companies to re-examine their corporate governance. The perennial stumbling block to Qatar’s inclusion in the MSCI Emerging Market index had been the low number of shares in listed Qatari stocks that foreign investors could buy. Although the foreign ownership limits in Qatar still remained low by emerging market standards, MSCI welcomed the commitment of Qatari authorities to increase these limits. (Gulf- Times.com)  QNFSP: Qatar aims to meet 40% food needs locally in 10 years – The Qatar National Food Security Programme’s (QNFSP) Executive Chairman Fahad bin Mohamed al-Attiya said that the country will be able to produce 40% of its strategically-important food items locally within 10 years. Al- Attiya said the first phase of the Qatar’s food security program has already begun as outlined in the Qatar National Food Security Plan. He said through better technology, crops and Overall Activity Buy %* Sell %* Net (QR) Qatari 64.93% 68.89% (31,540,248.84) Non-Qatari 35.08% 31.11% 31,540,248.84
  3. 3. Page 3 of 5 farm practices, Qatar can produce five times more than the food that is being produced currently, using the same amount of land and one third of water used at present. (Gulf-Times.com)  Qatar’s gas output crosses 7tn cubic feet in 2013 – HE the Minister of Energy & Industry, Dr. Mohamed bin Saleh Al-Sada said the liquefied natural gas production in Qatar exceeded 7tn cubic feet in 2013. Al-Sada said this includes 77mn tons of LNG exported to more than 25 countries, pipeline gas exports to the UAE and Oman, and domestic consumption as well. He said as the world’s largest LNG exporter, representing a quarter of global LNG supplies, Qatar’s leading position in the global energy market is set to remain for years to come. (Gulf- Times.com)  GECF: Natural gas to play key role in global energy mix – The Gas Exporting Countries Forum’s (GECF) Secretary General Dr. Seyed Mohamed Hossein Adeli said that natural gas is expected to play a more prominent role in the years ahead, not only because it is the cleanest fossil fuel but also due to its abundance and availability. He said the major energy challenge currently is how to meet the increasing global demand for secure energy in the long-term, while serving the global climate change efforts in tandem. The GECF expects the demand for natural gas to increase at a rate of 2.5% over the next two decades, which represents acceleration in the growth rate witnessed over the last 22 years. (Gulf-Times.com)  QIGD to disclose 1Q2014 results on April 10 – Qatari Investors Group (QIGD) will disclose its 1Q2014 financial results on April 10, 2014. (QE)  DBIS' AGM approves BoD recommendations – Dlala Brokerage and Investment Holding Company (DBIS) AGM has approved the recommendations and suggestions from the board of directors regarding profit, balance sheet among others. (QE)  WDAM postpones its AGM to April 07, 2014 – Widam Food Company (WDAM) announced that it has postponed the general assembly meeting for the company (lack of the legal quorum for the meeting). The meeting will now be held on April 07, 2014 at the same time and place. (QE) International  BoE says interest rates may rise ahead of UK election – The Bank of England (BoE) Governor Mark Carney said interest rates could increase ahead of the next general election, but he wants to see more jobs created in the North-East before he will intervene. The Governor stated that an increase in interest rates would be gradual even though Britain's economy is growing faster than any other developed nation. However, Carney accepted that an interest rate rise would be unpopular with mortgage payers. (Reuters)  China outlines measures to support growth – China outlined a package of measures including railway spending and tax relief to support the country’s economy and create jobs after a slowdown threatened Premier Li Keqiang’s target of 7.5% growth this year. The State Council said the government will sell 150bn yuan ($24bn) of bonds this year to help build railways in the less-developed central and western regions. Authorities will also create a development fund of 200-300bn yuan a year to increase sources for rail financing. These measures expand on the cabinet’s plans to speed up construction projects after slowdowns in manufacturing, retail sales and investment pointed to an unexpectedly weak growth. According to analysts surveyed by Bloomberg, China’s economy grew 7.4% during 4Q2013, down from a previous median estimate of 7.6%. (Bloomberg)  IMF: Ukraine standoff may cloud global GDP outlook – The IMF’s Managing Director Christine Lagarde said Russia’s standoff with the US and the European Union over Ukraine poses a threat to the global economy that is already too weak for comfort. Rising geopolitical tensions, along with risks of prolonged ultra-low inflation in advanced economies and volatility in emerging markets, could cloud the world’s economic outlook. Lagarde stated the situation in Ukraine could have broader spillover implications, if not well managed. She said resolving the tensions there and elsewhere requires not only good policies, but good politics. Both are essential to enable the global economy to move into a higher gear. (Bloomberg) Regional  UAE tops WEF MENA trade index report – According to the Global Enabling Trade Report 2014 released by the World Economic Forum (WEF), the UAE has been ranked first in the MENA region and 16th internationally, climbing three places from its ranking in 2012. The Emirates ranked first internationally in terms of transport & communications infrastructure and 13th globally among 135 countries in terms of the business environment sub-index. (GulfBase.com)  NCB to raise capital to SR20bn – The National Commercial Bank (NCB) is planning to boost its capital by SR5bn to SR20bn through the conversion of its retained earnings into capital. In addition, one new bonus share will be issued for every three existing NCB shares. The move will increase the bank’s shares from 1.5 billion to 2 billion with a nominal value of SR10 per share. Further, shareholders approved a dividend distribution of SR1.9 per share for 2013. (GulfBase.com)  KHC declares SR550.3mn dividends – The Kingdom Holding Company’s (KHC) AGM has approved the distribution of SR550.3mn quarterly dividends for 2013. The AGM further approved to authorize the board of directors to distribute quarterly dividends worth SR655.9mn for 2014. (GulfBase.com)  SEC launches $2.5bn 2-part bond – The Saudi Electricity Company (SEC) has set final terms on a $1.5bn 10-year sukuk at a rate of 4% and on a $1bn 30-year note at 5.5%. This is at the tight end of revised guidance of 4.125%, plus or minus 12.5bp, on the 10-year and 5.5%-5.625% on the 30-year, and well inside IPTs of 4.25%-4.375% on the shorter tranche and 5.625%-5.75% on the longer. Allocations and pricing are expected via DB, HSBC and JPM. (GulfBase.com)  Tadawul deposits ACC’s bonus shares – The Saudi Stock Exchange (Tadawul) announced the addition of the Arabian Cement Company’s (ACC) bonus shares into its investors’ portfolios. Earlier, ACC’s EGM approved an increase in the company’s capital via bonus shares. The fluctuation limits for the company’s shares on April 2, 2014 will be based on a stock price of SR64. (Tadawul)  Tadawul deposits SAIB’s bonus shares – The Saudi Stock Exchange (Tadawul) announced the addition of the Saudi Investment Bank’s (SAIB) bonus shares into its investors’ portfolios. Earlier, SAIB’s EGM approved an increase in the company’s capital via bonus shares. The fluctuation limits for SAIB’s shares on April 2, 2014 will be based on a stock price of SR28.30. (Tadawul)  S&P: Lending volume to shore up Saudi banks’ profitability – According to a report by Standard & Poor’s (S&P), lending volume and higher fees are expected to be the main generators of profitability for Saudi Arabian banks. The Saudi banking system is expected to remain among the global top tier banks in terms of profitability. The return on average assets is likely to remain around current levels during 2014. (GulfBase.com)
  4. 4. Page 4 of 5  NCB, SPCC sign SR700mn Islamic Tayseer financing deal – The National Commercial Bank and the Southern Province Cement Company (SPCC) have entered into a financing agreement of Islamic Tayseer, amounting to SR700mn for a period of five years. (Bloomberg)  ACWA Power raises ownership in SqWEC – ACWA Power announced that its fully owned subsidiary, Saudi Arabian Water & Electricity Company (SAWEC) has acquired a 6% indirect shareholding in Shuqaiq Water & Electricity Company (SqWEC) from Mitsubishi Corporation of Japan. SqWEC owns an 850 MW power plant and 212,000 cubic meters per day capacity water desalination plant in Shuqaiq on the western shores of Saudi Arabia. The project started commercial operations in May 2010. (Bloomberg)  RAK Ceramics to increase capacity in India, Bangladesh – UAE-based Ras Al Khaimah Ceramics’ (RAK Ceramics) CEO, Abdallah Massaad said that the company is planning to invest $80mn in 2014 on plant expansions in India and Bangladesh as well as technology upgrades at other plants. The company is boosting the annual production in India to almost 800,000 pieces of sanitary-ware from 300,000 currently to meet rising demand. In Bangladesh, RAK Ceramics is planning to increase its annual capacity by 3.5mn square meters of tiles and by 350,000 pieces of sanitary-ware. (GulfBase.com)  DCCI: Dubai traders have positive outlook for 2014 – A survey by the Dubai Chamber of Commerce & Industry (DCCI) has highlighted the growing expectations of Dubai traders on the performance of the trade sector. The mean expectation rating for 2014 rose to 6.5 points, higher by 0.5 points than that of 2013, which represents the highest ratio of positive expectations over the past few years. The survey focused on top traders of machinery, industry inputs, vehicles and household goods. (GulfBase.com)  Arabtec appoints CEOs for subsidiaries – Arabtec Holding has appointed Dr. Nabil Ailabouni as the Chief Executive Officer of Arabtec Construction replacing Sami Asad. Further, the company has appointed Sami Asad as the CEO of its Egyptian subsidiary, Arabtec Egypt for Real Estate Development. (DFM)  Abu Dhabi refinery to switch to lowest-sulfur diesel – According to sources, Abu Dhabi’s largest oil refinery is preparing to boost production of the industry’s lowest-sulfur diesel within three months as standards for the fuel rise. The Emirate’s 400,000-bpd plant at Ruwais will produce diesel with 10 parts per million of sulfur by July 2014. The Abu Dhabi National Oil Company (ADNOC) is in the process of adding 417,000 bpd refining capacity at Ruwais by August 2014 in an expansion that will enable the plant to double its gasoline output to meet rising domestic demand. The company is upgrading a hydrotreating unit to produce the cleaner-burning diesel. Middle Eastern oil-producing countries are expanding refining and chemicals processing to cut reliance on crude exports. At the same time, their plants need to improve the standards of the fuels to meet European regulations and help curb air pollution throughout the Gulf. (Gulf-Times.com)  Etihad launches Jaipur–Abu Dhabi route – Etihad Airways has launched daily flights between Jaipur and Abu Dhabi. With the addition of Jaipur, Etihad now serves a total of 10 Indian cities. The airline’s new daily service will be operated through an Airbus A320 aircraft in a two-class configuration, featuring 16 Pearl Business Class seats and 120 Coral Economy Class seats. (Bloomberg)  Kuwaiti MPs approve bill to set up telecom regulator – Kuwait's parliament has approved a bill to create an independent telecommunication regulator, which should end a conflict of interest as the Ministry of Communications currently regulates the industry and operates the fixed-line network. However, the new regulator's powers are not clear yet nor the impact it might have on the country's four major ISPs or three mobile operators, Zain, Viva and Wataniya. (GulfBase.com)  Zain secures $250mn Murabaha facility – Mobile Telecommunications Company (Zain Group) has secured a $250mn four-year Murabaha facility from a syndicate of financial institutions. These institutions include Kuwait-based Boubyan Bank, Kuwait International Bank and Qatar Islamic Bank. (GulfBase.com)  OPWP: Power sector’s gas demand to reach 10 bcm by 2020 – According to Oman Power & Water Procurement Company (OPWP), consumption of natural gas in the power generation and water desalination sector in Oman is projected to soar to around 10bn cubic meters (bcm) per year by 2020, up from 6.7 bcm presently. The 32% growth in consumption highlights the pivotal role of natural gas as the primary fuel resource for electricity generation and water desalination in the Main Interconnected System, which serves much of the northern part of the Sultanate. Gas requirements in the Salalah System, covering large swathes of Dhofar Governorate are anticipated to reach 1.2 bcm by 2020, up from 0.72 bcm presently. (GulfBase.com)  CBO sets foreign exposure caps for banks – The Central Bank of Oman (CBO) has set new caps on banks' credit exposure to non-residents and funds placed abroad, giving lenders six months to comply. The aggregate funded credit exposures of all banks to non-resident borrowers other than banks are capped at 20% of a bank's local net worth. The cap is 30% when non-resident borrowers such as banks are included. A limit of 2.5% of total net worth has been set for each individual non-resident borrower and 5% for each bank borrower. (GulfBase.com)  Bank Sohar declares 4% dividend – Bank Sohar’s AGM has approved the board’s proposal for the distribution of 4% cash dividend (4 baizas per share) for the year ended December 31, 2013. (GulfBase.com)  Renaissance bags OMR37mn contract from health ministry – The Contract Services arm of Renaissance Services has been awarded an OMR37mn contract to provide catering, cleaning, laundry and pest control services at 34 hospitals of the Ministry of Health (MoH) in Oman. The contract is for three years and will be operated by the firm's Omani unit, Tawoos Industrial Services Co. The company previously operated almost 65% of the services for MoH and this new award will take the figure to over 85%. (Bloomberg)  Batelco appoints new group CEO – Batelco Group has appointed Alan Whelan as the Chief Executive Officer for the Group. (Bahrain Bourse)
  5. 5. Contacts Saugata Sarkar Keith Whitney Sahbi Kasraoui Head of Research Head of Sales Manager - HNWI Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544 saugata.sarkar@qnbfs.com.qa keith.whitney@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa QNB Financial Services SPC Contact Center: (+974) 4476 6666 PO Box 24025 Doha, Qatar DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar Financial Markets Authority and the Qatar Exchange; QNB is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources that QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. While this publication has been prepared with the utmost degree of care by our analysts, QNBFS does not make any representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. QNBFS reserves the right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the views and opinions included in this report. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS. Page 5 of 5 Rebased Performance Daily Index Performance Source: Bloomberg Source: Bloomberg Source: Bloomberg Source: Bloomberg 80.0 90.0 100.0 110.0 120.0 130.0 140.0 150.0 160.0 170.0 180.0 Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13 QE Index S&P Pan Arab S&P GCC 0.2% 0.3% 0.2% 0.3% (0.4%) 0.0% 1.2% (0.8%) (0.4%) 0.0% 0.4% 0.8% 1.2% 1.6% SaudiArabia Qatar Kuwait Bahrain Oman AbuDhabi Dubai Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD% Gold/Ounce 1,289.86 0.9 (0.4) 7.0 DJ Industrial 16,573.00 0.2 1.5 (0.0) Silver/Ounce 19.98 1.1 0.8 2.6 S&P 500 1,890.90 0.3 1.8 2.3 Crude Oil (Brent)/Barrel (FM Future) 104.79 (0.8) (3.0) (5.4) NASDAQ 100 4,276.46 0.2 2.9 2.4 Natural Gas (Henry Hub)/MMBtu 4.35 (0.1) (3.1) 0.0 STOXX 600 336.93 0.2 0.9 2.6 LPG Propane (Arab Gulf)/Ton 105.00 (0.7) (1.2) (17.0) DAX 9,623.36 0.2 0.4 0.7 LPG Butane (Arab Gulf)/Ton 119.75 (0.8) (1.2) (11.8) FTSE 100 6,659.04 0.1 0.7 (1.3) Euro 1.38 (0.2) 0.1 0.2 CAC 40 4,430.86 0.1 0.4 3.1 Yen 103.88 0.2 1.0 (1.4) Nikkei 14,946.32 1.0 1.7 (8.3) GBP 1.66 (0.0) (0.1) 0.4 MSCI EM 1,004.97 0.4 2.0 0.2 CHF 1.13 (0.4) 0.0 0.7 SHANGHAI SE Composite 2,058.99 0.6 0.8 (2.7) AUD 0.92 0.0 0.0 3.7 HANG SENG 22,523.94 0.3 2.1 (3.4) USD Index 80.22 0.2 0.0 0.2 BSE SENSEX 22,551.49 0.5 0.9 6.5 RUB 35.42 1.0 (1.0) 7.8 Bovespa 51,701.05 2.8 3.9 0.4 BRL 0.44 (0.3) (0.3) 4.1 RTS 1,222.47 (1.1) 3.1 (15.3) 171.6 150.6 136.7

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