1. Page 1 of 5
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.9% to close at 11,982.0. Losses were led by the
Industrials and Telecoms indices, falling 1.9% and 1.2%, respectively. Top
losers were Qatar German Co. for Medical Devices and Industries Qatar, falling
3.5% and 3.2%, respectively. Among the top gainers Qatar Industrial
Manufacturing Co. rose 2.4%, while Widam Food Co. was up 2.3%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.8% to close at 9,588.0. Losses were led
by the Hotel & Tourism and Transport indices, falling 2.1% and 1.4%,
respectively. AXA Cooperative fell 4.1%, while Al-Ahlia Ins. was down 3.2%.
Dubai: The DFM Index declined 1.1% to close at 3,988.9. The Financial &
Invest. Services index fell 2.7%, while the Real Estate & Const. index declined
1.4%. Takaful House fell 4.9%, while Takaful Al-Emarat Ins. was down 4.5%.
Abu Dhabi: The ADX benchmark index fell 0.7% to close at 4,554.0. The
Services index declined 3.8%, while the Inv. & Financial Ser. index fell 2.2%.
Abu Dhabi Nat. Hotels declined 10.0%, while National Takaful was down 9.4%.
Kuwait: The KSE Index rose 0.1% to close at 6,329.5. The Consumer Goods
index gained 0.7%, while the Oil & Gas index rose 0.4%. Al-Massaleh Real
Estate Co. gained 7.0%, while Al Dar National Real Estate Co. was up 6.9%.
Oman: The MSM Index fell 0.1% to close at 6,454.4. Losses were led by the
Financial and Industrial indices, falling 0.2% and 0.1%, respectively. Oman
Fisheries fell 3.5%, while Al Batinah Dev. Inv. Holding was down 3.2%.
Bahrain: The BHB Index declined marginally to close at 1,366.5. Commercial
Banks index fell 0.1%, while the other indices ended flat or green. Khaleeji
Commercial Bank fell 5.8%, while Al Salam Bank - Bahrain was down 1.5%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Industrial Manufacturing Co. 46.90 2.4 2.8 8.2
Widam Food Co. 61.00 2.3 19.6 1.0
Al Ahli Bank 43.00 1.4 0.5 (13.4)
Ezdan Holding Group 17.29 1.4 2,099.0 15.9
Al Meera Consumer Goods Co. 244.00 0.8 7.6 22.0
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 17.29 1.4 2,099.0 15.9
Vodafone Qatar 16.15 (1.8) 959.5 (1.8)
Masraf Al Rayan 45.80 (1.3) 651.5 3.6
Barwa Real Estate Co 50.90 (0.8) 509.5 21.5
Doha Bank 53.90 (0.9) 398.4 (5.4)
Market Indicators 7 June 15 4 June 15 %Chg.
Value Traded (QR mn) 424.9 672.7 (36.8)
Exch. Market Cap. (QR mn) 637,903.8 644,867.8 (1.1)
Volume (mn) 8.6 13.6 (36.7)
Number of Transactions 4,608 6,116 (24.7)
Companies Traded 41 41 0.0
Market Breadth 9:27 10:27 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,620.62 (0.9) (0.9) 1.6 N/A
All Share Index 3,202.72 (0.8) (0.8) 1.6 13.5
Banks 3,166.95 (1.0) (1.0) (1.2) 14.3
Industrials 3,857.68 (1.9) (1.9) (4.5) 13.6
Transportation 2,482.96 (0.2) (0.2) 7.1 13.7
Real Estate 2,667.26 0.5 0.5 18.8 9.4
Insurance 4,779.86 0.3 0.3 20.7 22.1
Telecoms 1,207.90 (1.2) (1.2) (18.7) 24.3
Consumer 7,255.67 (0.4) (0.4) 5.0 28.2
Al Rayan Islamic Index 4,592.70 (0.8) (0.8) 12.0 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Saudi Chemical Co. Saudi Arabia 80.33 4.0 1,089.0 40.3
Comm. Bank of Kuwait Kuwait 0.62 3.3 0.5 (1.6)
Nat. Investments Co. Kuwait 0.13 3.1 1,039.8 (13.2)
Qatar Ind. Manuf. Co. Qatar 46.90 2.4 2.8 8.2
Nat. Bank of Abu Dhabi Abu Dhabi 10.95 1.9 122.1 (14.0)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Hotels Abu Dhabi 2.52 (10.0) 0.8 (37.0)
Ajman Bank Dubai 1.98 (3.4) 361.8 (25.7)
Industries Qatar Qatar 135.00 (3.2) 346.5 (19.6)
Dubai Financial Market Dubai 1.85 (3.1) 7,053.5 (8.0)
Deyaar Development Dubai 0.78 (3.1) 20,495.5 (8.6)
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)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar German Co. For Med. Div. 16.78 (3.5) 80.7 65.3
Industries Qatar 135.00 (3.2) 346.5 (19.6)
Al Khaleej Takaful Group 43.00 (2.3) 19.2 (2.7)
Vodafone Qatar 16.15 (1.8) 959.5 (1.8)
Gulf International Services 78.70 (1.7) 319.7 (18.9)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 135.00 (3.2) 46,918.0 (19.6)
QNB Group 190.20 (1.5) 44,469.1 (10.7)
Qatar Islamic Bank 105.90 (1.0) 39,509.7 3.6
Ezdan Holding Group 17.29 1.4 35,677.9 15.9
Qatar Electricity & Water Co. 222.00 (1.7) 31,210.0 18.4
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* 11,981.98 (0.9) (0.9) (0.6) (2.5) 116.71 175,232.2 12.6 1.9 4.2
Dubai 3,988.94 (1.1) (1.1) 1.7 5.7 198.78 98,254.6 9.2 1.5 5.4
Abu Dhabi 4,553.97 (0.7) (0.7) 0.6 0.6 26.11 122,497.0 11.5 1.4 4.9
Saudi Arabia 9,588.01 (0.8) (0.8) (1.0) 15.1 1,224.44 562,449.9 20.1 2.3 2.8
Kuwait 6,329.48 0.1 0.1 0.6 (3.2) 38.14 96,278.3 16.1 1.1 4.2
Oman 6,454.35 (0.1) (0.1) 1.0 1.8 2.72 24,681.0 9.3 1.4 4.1
Bahrain 1,366.51 (0.0) (0.0) 0.2 (4.2) 0.62 21,371.5 8.8 1.0 5.1
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
11,800
11,900
12,000
12,100
12,200
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 5
Qatar Market Commentary
 The QSE Index declined 0.9% to close at 11,982.0. The
Industrials and Telecoms indices led the losses. The index fell on
the back of selling pressure from non-Qatari and GCC
shareholders despite buying support from Qatari shareholders.
 Qatar German Co. for Medical Devices and Industries Qatar
were the top losers, falling 3.5 and 3.2%, respectively. Among
the top gainers Qatar Industrial Manufacturing Co. rose 2.4%,
while Widam Food Co. was up 2.3%.
 Volume of shares traded on Sunday fell by 36.7% to 8.6mn from
13.6mn on Thursday. Further, as compared to the 30-day
moving average of 17.0mn, volume for the day was 49.6% lower.
Ezdan Holding Group and Vodafone Qatar were the most active
stocks, contributing 24.4% and 11.2% to the total volume,
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
News
Qatar
 Commercial Bank’s subsidiary Alternatifbank to issue up to
USD300 million subordinated Eurobond – Alternatifbank, the
Turkish subsidiary of Commercial Bank, plans to sell up to a
USD300 million subordinated Eurobond. The bank will issue a
Basel III compliant subordinated Eurobond in international
markets, according to a bank statement. Alternatifbank is
expected to get as much as USD125 million as a Basel III
compliant subordinated loan from its parent company the
Commercial Bank and its affiliates United Arab Bank and
National Bank of Oman. (Bloomberg)
 Minister of Finance: All projects on track; government
agencies asked to prepare 2016-18 budget estimates – HE
the Minister of Finance Ali Shareef Al-Emadi has confirmed that
none of the state’s development projects will be delayed or
deferred, stressing that they will be carried out according to the
previously-prepared plans. He said that all financial allocations
were available and added that the pace of implementation of
certain projects might be faster than before. Referring to the
reclassification of the state’s general budget, the minister said
that it provided more detailed statistical data of resources and
financial uses and a precise knowledge about the output of
public spending and its effect on the state’s macro economy.
Meanwhile, Al Emadi said the ministries and government
agencies will be directed to prepare their budgets for the new
fiscal according to their actual needs, without over projection. He
stated that there will be ample allocations for all projects, but the
state will be strict on the spending policy to ensure public
spending is not weakening the economy. The Ministry of
Finance has asked all concerned government agencies,
including ministries, to prepare their budget estimates for 2016-
18. Al Emadi said that the new state budget for 2016 will witness
an increase in public spending compared to the current fiscal.
(Gulf-Times.com, Peninsula Qatar)
 QBA: Private sector should focus on innovation, creation of
more big-ticket projects – Qatar Businessmen Association
(QBA) first Deputy Chairman, Hussain Ibrahim Alfardan said the
private sector should focus on innovation and creation of more
big-ticket projects to help advance the economy further.
Speaking at the QBA’s 10th anniversary celebration, Alfardan
said the government had been generous in backing the private
sector but he noted that there was “more work ahead” for the
Qatar business community. He further added that the
government has been supportive in all QBA’s efforts, which
gives QBA the optimism to achieve more than what they have
accomplished in the past 10 years. Meanwhile, QBA Chairman
Sheikh Faisal bin Qassim Al-Thani stressed the government’s
role in supporting the private sector. He also encouraged the
business community to support the government in attaining the
goals set in Qatar National Vision 2030. (Gulf-Times.com)
 QNBK wins 2 awards at ‘Euromoney Awards of Excellence
2014’ – QNB Group (QNBK) was awarded ‘’The Best Bank in
the Middle East” and “The Best Bank in Qatar” by the
international finance magazine Euromoney. The prestigious
awards were presented at the Euromoney Awards for
Excellence Middle East 2015 held recently in Dubai. “The Best
Bank in the Middle East” Award is of distinct significance,
reflecting the ongoing progress being made by QNB Group
across the MENA Region. QNB was also recognized for its
domestic success with “The Best Bank in Qatar” award. This
marks the twelfth occasion that QNB has been given this
accolade by the international magazine. (QNB Group Press
Release)
 Solar power discovery may aid Qatar to diversify energy
supplies – A Qatari research entity, through collaborative
research, has discovered chemical secrets of a new material
that could make solar energy generation more economical and
unleash the potential of this renewable resource. The
breakthrough by the Qatar Environment & Energy Research
Institute (QEERI) of Qatar Foundation (QF) could be
instrumental in Qatar’s plans to diversify energy supplies by
tapping its abundant solar power. According to experts, the
natural power of the sun supplies the Gulf state with the annual
equivalent of 1.5mn barrels of oil per square kilometer.
However, much of this goes to waste. The high cost of
harvesting latent energy has made it an unattractive investment
for ‘traditional’ energy companies and has posed a major
obstacle for Qatar in realizing its ambition of generating a fifth of
its energy needs from renewable resources by 2024. QEERI,
which has taken a leading role in energy and water security
research in the region, may well have come up with a solution
that will lead to less reliance on oil & gas in the future.
(Peninsula Qatar)
 Mowasalat, Qatar Rail to showcase transport sector at Milan
– Mowasalat, in collaboration with the Ministry of Transport and
Qatar Railways Company (Qatar Rail), will represent Qatar and
showcase its transport sector in the international arena at the
three-day 61st UITP World Congress & Exhibition, which begins
in Milan, Italy, yesterday. Mowasalat is a member of the
International Association of Public Transport (UITP) since 2005.
The delegation taking part in the event comprises senior officials
of Mowasalat, whose participation is aimed at highlighting
Overall Activity Buy %* Sell %* Net (QR)
Qatari 66.67% 42.29% 103,592,215.24
GCC 6.04% 28.61% (95,921,810.73)
Non-Qatari 27.29% 29.10% (7,670,404.51)

3. Page 3 of 5
Qatar’s transportation industry and sustainable mobility solutions
at the event. Mowasalat and Qatar Rail will showcase their
products, services and projects for the growth & development of
Qatar’s transport network in the exhibition area along with the
Ministry of Transport. (Gulf-Times.com)
 Kahramaa opens electricity workshop at Madinat al-Shamal
– Qatar Electricity & Water Corporation (Kahramaa) has opened
an electricity workshop at Madinat al-Shamal. The workshop has
been set up to ensure uninterrupted electricity supply to the
town. (Gulf-Times.com)
International
 IMF warns of market disorder from Fed rate hike – The
International Monetary Fund's Deputy Managing Director,
Mitsuhiro Furusawa warned that there is "considerable" risk for
negative spillover from the US Federal Reserve's pending
interest rate hike. He said that once the market sentiment shifts -
possibly triggered by normalization - yields could sharply
increase and capital flows could reverse. This process could
become disorderly, with impaired liquidity in certain markets or
asset classes. He added the Fed can reduce the risk of
disorderly capital outflows by continuing to communicate its
policy intentions, while emerging market economies need to
strengthen macroeconomic fundamentals and policy
frameworks. Furusawa stated that the IMF sees signs of growth
rebounding in emerging market countries in 2016 after likely
declining for the fifth year in a row in 2015. (Reuters)
 CBI cuts UK growth outlook, urges government to fix public
finances – The Confederation of British Industry (CBI), a
leading employers group, has cut its forecast for UK economic
growth but said that the government should not delay its push to
fix the public finances. The CBI predicted a growth rate of 2.4%
and 2.5% in 2015 and 2016, respectively, down from 2.7% and
2.6% growth forecasts made in February, echoing cuts to growth
forecasts by other organizations including the Bank of England.
The group said that the downgrade mostly reflected a sharp
slowdown in Britain's official economic growth rate in 1Q2015,
which would probably prove a blip. CBI Director-General, John
Cridland added that the group wants the government to continue
to tackle the deficit in the public finances rather than easing off
on austerity. (Reuters)
 Japan 1Q2015 GDP revised higher; will not decide on AIIB
until corruption addressed – According to data from the
Cabinet Office, Japan’s economy expanded at an annualized
pace of 3.9% in 1Q2015, revised up from an initial estimate of
2.4% growth. The revised figure compared with a median
market forecast for 2.7% growth in real, price adjusted-terms.
The GDP rose at a revised 1.0% QoQ in 1Q2015, compared
with a preliminary reading of a 0.6% increase. Meanwhile, Prime
Minister Shinzo Abe’s spokesman, Yasuhisa Kawamura, told
reporters at the G7 summit that Japan would not say whether or
not it would join the Asian Infrastructure Investment Bank (AIIB)
until China had tackled concerns about human rights, debt
sustainability, environmental protection and governance.
(Reuters)
Regional
 GDN: New Saudi-Bahrain oil pipeline to be ready by 2017-
end – According to Gulf Daily News (GDN),the new crude oil
pipelines between Bahrain and Saudi Arabia will be ready by
2017-end with up to 400,000 barrels per day (bpd) delivered to
Bahrain Petroleum Company (Bapco). The new network, which
would be operational in 1Q2018, would replace the existing land
pipelines between Bapco and Saudi Arabian Oil Company
(Saudi Aramco) in Dhahran. GDN had reported in January 2015
that the new 30-inch, 115-km pipelines will run onshore for 74
km, with the remaining 42 km being sub-sea. (GulfBase.com)
 ENBD opens RAK Mall branch, appoints new GM in Riyadh
– Emirates NBD (ENBD) has opened a new branch in Ras Al
Khaimah (RAK) Mall, further strengthening the bank’s presence
in Northern Emirates. Meanwhile, Eng. Loai Abduljawad has
been appointed as the General Manager (GM) of ENBD in
Riyadh. (GulfBase.com)
 ICD signs MoU with CHINCA – The Islamic Corporation for the
Development of the Private Sector (ICD), the private sector arm
of the Islamic Development Bank (IDB) Group, has signed an
MoU with the China International Contractors Association
(CHINCA), formalizing the parties’ co-operation in identifying
and cultivating investment opportunities in the construction,
infrastructure and other key industries by leveraging on areas of
expertise and utilizing services currently offered by both parties.
(GulfBase.com)
 PDC achieves key construction milestone – Ports
Development Company (PDC), the owner and developer of
Saudi Arabia’s King Abdullah Port, has achieved a key
milestone handing over the fourth berth in less than six months
after delivering the third. PDC Managing Director Abdullah bin
Mohamed Hameedaddin said the fourth berth is considered to
be one of the important developmental stages at the King
Abdullah Port, especially as the handover comes just after a
year and half of port operations. Once ready, the berth will be
1,400 meter long and 18 meter deep in size. (GulfBase.com)
 GACA awards airport expansion contract worth SR1.48bn
to Muhaidib Contracting – The General Authority of Civil
Aviation (GACA) has awarded a contract worth SR1.48bn to
Muhaidib Contracting Company for the expansion of the Prince
Naif Regional Airport in Al-Qassim. The three-year contract is
part of the airport’s plans for the future when 3mn passengers
would be served annually on both domestic and international
flights. The plan includes main building halls with an area of
60,000 square meters (sqm), a VIP lounge of 3,500 sqm, a
mosque covering 1,600 sqm and the airport administration
building, which will measure 2,800 sqm. (GulfBase.com)
 NDC to buy 14 new rigs for $543mn – WAM news agency
reported that National Drilling Company (NDC) has signed
contracts worth $543mn to buy 14 new rigs. Quoting the
company's CEO Abdullah Saeed al-Suwaidi, WAM said an
offshore and an onshore rig, worth $203mn, will be
manufactured in the UAE. The onshore rig deal was signed with
National Oilwell Varco while the offshore one went to Lamprell.
A third deal was signed with China Petroleum Technology &
Development Corporation for 12 rigs. The new contracts are part
of the company's expansion plans and also the result of growing
demand from its customers. (Reuters)
 DIB prices $750mn Sukuk Issue – Dubai Islamic Bank (DIB)
has successfully priced its $750mn Sukuk issuance maturing on
June 3, 2020. The issuance from DIB’s $2.5bn Sukuk Program
carries a profit rate of 2.921%, and ultimately received more
than 85 orders amounting to nearly $2bn on the back of huge
demand from a diverse investor base. The instrument will carry
a dual listing on the Irish Stock Exchange and NASDAQ Dubai.
DIB, First Gulf Bank, HSBC, Maybank, National Bank of Abu
Dhabi and Standard Chartered Bank acted as joint lead
managers on the offering, while Arab Banking Corporation, Abu
Dhabi Islamic Bank, Sharjah Islamic Bank and Union National
Bank acted as co-lead managers on the offering.
(GulfBase.com)

4. Page 4 of 5
 Dana Gas commences drilling Balsam-2 well – Dana Gas
Egypt has commenced drilling the Balsam-2 development well in
the Balsam Development lease onshore the Nile delta. The
Balsam-2 well is being drilled with the 2000 HP Egyptian Drilling
Company’s Rig #48 and targets the Qawasim formation at a
depth of 3,200 meter. The well will be the first horizontal well
drilled by Dana Gas, and one of very few drilled in the onshore
Nile Delta to date. The well is expected to take approximately
four months to drill and complete. (ADX)
 NBAD has mandates for bonds in 2H2015 – National Bank of
Abu Dhabi’s (NBAD) head of debt capital markets, Andy Cairns
said NBAD has a couple of more mandates for its Sukuk or
bonds issuance before Ramadan before dealing with a strong
pipeline in 2H2015. He said, the bank participated in 18
transactions so far in 2015, in addition to Bank of Sharjah’s
$500mn debut five-year that was priced at mid-swaps of 175
basis points. (GulfBase.com)
 Gulf Related secures approval for $1.5bn Abu Dhabi retail
project – Gulf Related has won approval from the Abu Dhabi
Urban Planning Council to start work on the Phase I retail
component of its $1.5bn mixed-use project coming up on Al
Maryah Island. Al Maryah Central is a 3.1mn square foot (sq ft)
mixed-use development that will have about 400 stores, 90 food
and beverages outlets, a 20-screen cinema, a medical centre, a
crèche, health-club, a public library, food market in 1Q2018. It
will be fully connected to existing and future transport links.
Under the Phase I, Gulf Related will deliver a 2.3mn sq ft
shopping destination, anchored by the iconic US department
stores, Macy’s and Bloomingdale’s. (GulfBase.com)
 Insurance companies’ claims up by 36% – According to
Times of Oman, the unaudited preliminary numbers for the
insurance sector indicate that claims paid by insurance firms
rose 36% YoY in 1Q2015 to reach OMR39mn. The data also
showed a rise of total direct premiums of the sector in 1Q2015
by 6% YoY to OMR121.25mn. The growth rates achieved by the
sector in total direct insurance premiums for 1Q2015 reflected
positively to reach OMR61.665mn at the end March 2015,
reflecting an increase of 14% YoY. (GulfBase.com)
 CBO: Oman’s GDP rises 4.6% in 2014 – According to the
Central Bank of Oman (CBO), Oman’s GDP at current prices
rose by 4.6% in 2014 as compared to 2.4% in 2013. While the
nominal GDP emanating from the hydrocarbon sector registered
a marginal decline of 2.4%, that from non-hydrocarbon activities
witnessed a growth of 10.1% during 2014. The balance of
payments situation remained comfortable with both current
account and overall position in surplus. The annual inflation rate
measured by the movement in the average CPI for the Oman
stood at 0.60% during January-March 2015 over the
corresponding period in 2014. Total assets of commercial banks
rose 9.3% to OMR26.2bn in March 2015 from OMR24.0bn in
March 2014. Of the total assets, credit disbursement was 66.4%
and rose 11.6% as at the end of March 2015 to OMR17.4bn.
(GulfBase.com)
 SOMC signs deal with Sayarti for lubricant distribution –
Shell Oman Marketing Company (SOMC) has signed an
agreement with Zubair Automotive Group (Sayarti) for
distribution of Shell Lubricants in retail service stations, following
a successful tender process. (GulfBase.com)
 NCSI: Oman’s natural gas output grows 5.5% – According to
the National Centre for Statistics and Information (NCSI),
Oman's natural gas production and imports rose 5.5% to
12,402mn cubic meters (MNCM) during January-April 2015 as
compared to 11,750 MNCM during the same period in 2014. Of
this, non-associated gas showed a growth of 7.6% to
10,216MNCM, while associated gas production declined 3.1% to
2,185MNCM. (GulfBase.com)
 Alba opens new regional sales office in US – Aluminium
Bahrain (Alba) has opened a new regional sales office in
Atlanta, US. Zac Jungers has been appointed as the new Sales
Manager for Alba Americas. He will oversee the growth and
development of this key market and will support initiatives that
help in expanding the footprint of Alba’s product portfolio within
the US. (Bahrain Bourse)

5. Contacts
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the
Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ 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. QNBFS accepts no liability
whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically
engaged investment 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. QNBFS does not make any
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expressed opinions and/or recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical
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decisions that differ significantly from, or even contradict, the views and opinions included in this report. This report may not be reproduced in whole or in part without permission from QNBFS
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 (*$ adjusted returns)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
May-11 May-12 May-13 May-14 May-15
QSEIndex S&PPan Arab S&PGCC
(0.8%)
(0.9%)
0.1%
(0.0%)
(0.1%)
(0.7%)
(1.1%)(1.2%)
(1.0%)
(0.8%)
(0.6%)
(0.4%)
(0.2%)
0.0%
0.2%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,172.00 (0.4) (1.6) (1.1) MSCI World Index 1,760.43 (0.8) (1.1) 3.0
Silver/Ounce 16.02 (0.8) (4.3) 2.1 DJ Industrial 17,849.46 (0.3) (0.9) 0.1
Crude Oil (Brent)/Barrel (FM
Future)
63.31 2.1 (3.4) 10.4 S&P 500 2,092.83 (0.1) (0.7) 1.6
Crude Oil (WTI)/Barrel (FM
Future)
59.13 1.9 (1.9) 11.0 NASDAQ 100 5,068.46 0.2 (0.0) 7.0
Natural Gas (Henry
Hub)/MMBtu
2.56 (1.3) (3.2) (14.6) STOXX 600 389.00 (2.4) (1.4) 4.4
LPG Propane (Arab Gulf)/Ton 33.50 (9.2) (24.1) (31.6) DAX 11,197.15 (2.7) (0.5) 4.5
LPG Butane (Arab Gulf)/Ton 49.25 (4.4) (12.8) (21.5) FTSE 100 6,804.60 (1.5) (2.6) 1.6
Euro 1.11 (1.1) 1.2 (8.1) CAC 40 4,920.74 (2.7) (0.4) 5.9
Yen 125.63 1.0 1.2 4.9 Nikkei 20,460.90 (0.9) (1.6) 11.6
GBP 1.53 (0.6) (0.1) (2.0) MSCI EM 982.14 (0.6) (2.2) 2.7
CHF 1.06 (0.6) 0.1 5.8 SHANGHAI SE Composite 5,023.10 1.5 8.8 55.4
AUD 0.76 (0.8) (0.3) (6.8) HANG SENG 27,260.16 (1.1) (0.6) 15.5
USD Index 96.31 0.9 (0.6) 6.7 BSE SENSEX 26,768.49 (0.4) (4.4) (4.0)
RUB 56.13 (0.5) 7.2 (7.6) Bovespa 52,973.38 (2.1) 1.1 (11.2)
BRL 0.32 (0.4) 1.0 (15.8) RTS 922.67 0.0 (4.8) 16.7
172.2
140.8
127.9