1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.7% to close at 11,509.2. Losses were led by the
Banking & Financial Services and Transportation indices, declining 1.5% and
0.9% respectively. Top losers were Industries Qatar and Qatar Islamic
Insurance, falling 7.1% and 3.9% respectively. Among the top gainers, Qatari
Investors Group rose 9.9%, while Salam International Invest. Co. rose 4.2%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.1% to close at 9,354.6. Gains were led
by the Agri. & Food Ind. Index and the Multi-Investment index, up 1.2% each.
Saudi Arabia Refineries rose 9.8%, while Saudi Paper Manu. was up 6.4%.
Dubai: The DFM index fell 1.4% to close at 4,091.6. The Banking index
declined 3.4%, while the Financial & Invest. Services index was down 2.0%.
Com. Bank of Dubai fell 9.8%, while Dubai Islamic Bank was down 4.7%.
Abu Dhabi: The ADX benchmark index declined 1.0% to close at 4,782.6. The
Industrial index fell 1.9%, while the Consumer index was down 1.7%. National
Takaful Co. declined 9.5%, while Nat. Marine Dredging Co. was down 7.9%.
Kuwait: The KSE index gained 0.4% to close at 7,520.2. The Telecom. index
rose 3.5%, while the Financial Services index was up 0.9%. Jeeran Holding
Co. gained 9.6%, while Egypt Kuwait Holding Co. was up 8.9%.
Oman: The MSM index declined 0.2% to close at 7,077.5. Losses were led by
the Financial Index, which declined 0.5%, while the Industrial index was down
0.1%. Al Batinah Dev. declined 4.3%, while Gulf Inter. Chem. was down 3.9%.
Bahrain: The BHB index rose marginally to close at 1,387.4. The Investment
index gained 0.6%, while the Commercial Bank index was up 0.2%. Al Salam
Bank and Arab Banking Corporation gained 1.9% each.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatari Investors Group 49.30 9.9 990.9 12.8
Salam International Investment Co. 12.50 4.2 1,057.9 (3.9)
Qatar General Ins. & Reins. Co. 48.90 2.9 1.0 2.1
Widam Food Co. 43.30 2.7 244.4 (16.2)
National Leasing 28.70 2.1 618.4 (4.8)
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mesaieed Petrochemical Holding 40.05 (0.7) 2,868.4 301
Barwa Real Estate Co. 32.90 0.8 1,441.7 10.4
United Development Co. 21.91 (2.0) 1,435.2 (3.1)
Salam International Investment Co. 12.50 4.2 1,057.9 (3.9)
Qatari Investors Group 49.30 9.9 990.9 12.8
Source: Bloomberg (* in QR)
Market Indicators 11 Mar 14 10 Mar 14 %Chg.
Value Traded (QR mn) 654.3 645.0 1.4
Exch. Market Cap. (QR mn) 652,397.1 666,244.1 (2.1)
Volume (mn) 15.6 14.4 8.5
Number of Transactions 10,513 8,099 29.8
Companies Traded 39 42 (7.1)
Market Breadth 12:23 23:14 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,922.15 (0.8) 0.1 14.1 N/A
All Share Index 2,932.13 (0.9) (0.3) 13.3 14.7
Banks 2,818.67 (1.5) (1.1) 15.3 14.5
Industrials 3,999.22 (0.4) 0.8 14.3 15.2
Transportation 2,007.87 (0.9) (0.5) 8.0 13.9
Real Estate 2,058.99 (0.2) 2.4 5.4 20.4
Insurance 2,783.31 (0.7) (1.5) 19.1 6.7
Telecoms 1,501.73 (0.8) 0.5 3.3 20.7
Consumer 6,937.62 (0.0) (1.3) 16.6 30.2
Al Rayan Islamic Index 3,437.26 0.4 1.9 13.2 18.8
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Qatari Investors Group Qatar 49.30 9.9 990.9 12.8
United Arab Bank Abu Dhabi 8.50 8.3 50.0 31.8
Nat. Mobile Telecom. Kuwait 1.88 5.6 41.9 6.8
Etihad Atheeb Saudi Arabia 16.50 5.1 33,809.5 14.6
IFA Hotels & Resorts Kuwait 0.26 4.8 0.6 (8.8)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Comm. Bank of Dubai Dubai 6.27 (9.8) 770.8 32.3
Nat. Marine Dredging Abu Dhabi 8.70 (7.9) 472.7 1.2
Industries Qatar Qatar 182.00 (7.1) 371.3 7.8
Dubai Islamic Bank Dubai 5.91 (4.7) 5,299.6 10.3
Kuwait Food Co. Kuwait 2.40 (4.0) 31.8 (4.8)
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%
Industries Qatar 182.00 (7.1) 371.3 7.8
Qatar Islamic Insurance 66.00 (3.9) 123.8 14.0
Qatar Industrial Manufacturing Co. 42.50 (3.2) 17.4 0.8
Doha Bank 58.40 (2.7) 534.1 0.3
Al Khaliji 20.55 (2.6) 252.9 2.8
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Mesaieed Petrochemical Holding 40.05 (0.7) 114,815.6 301
Industries Qatar 182.00 (7.1) 68,267.4 7.8
Qatari Investors Group 49.30 9.9 48,838.6 12.8
Barwa Real Estate Co. 32.90 0.8 47,313.4 10.4
QNB Group 188.00 (2.6) 39,998.8 9.3
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* 11,509.16 (1.7) (0.8) (2.2) 10.9 179.68 179,148.2 15.2 1.9 4.5
Dubai 4,091.62 (1.4) (1.5) (3.1) 21.4 266.72 83,594.4 17.6 1.5 2.2
Abu Dhabi 4,782.60 (1.0) (2.3) (3.6) 11.5 94.67 128,767.5 13.6 1.7 3.7
Saudi Arabia 9,354.55 0.1 1.1 2.7 9.6 2,392.87 508,540.5 18.7 2.3 3.2
Kuwait 7,520.16 0.4 0.2 (2.2) (0.4) 84.74 110,065.5 15.5 1.2 3.7
Oman 7,077.51 (0.2) (0.6) (0.5) 3.6 12.70 25,430.6 11.2 1.6 3.7
Bahrain 1,387.37 0.0 1.0 1.1 11.1 4.86 51,971.5 9.9 0.9 3.9
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
11,400
11,500
11,600
11,700
11,800
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 QE index declined 1.7% to close at 11,509.2. The Banking &
Financial Services and Transportation indices led the losses. The
index fell on the back of selling pressure from non-Qatari
shareholders despite buying support from Qatari shareholders.
 Industries Qatar and Qatar Islamic Insurance were the top
losers, falling 7.1% and 3.9% respectively. Among the top
gainers, Qatari Investors Group rose 9.9%, while Salam
International Invest. Co. rose 4.2%.
 Volume of shares traded on Tuesday rose by 8.5% to 15.6mn
from 14.4mn on Monday. Further, as compared to the 30-day
moving average of 13.0mn, volume for the day was 19.9%
higher. Mesaieed Petrochemical Holding Co. and Barwa Real
Estate Co. were the most active stocks, contributing 18.3% and
9.2% to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Earnings and Global Economic Data
Earnings Releases
Company Market Currency
Revenue
(mn) 4Q2013
% Change
YoY
Operating Profit
(mn) 4Q2013
% Change
YoY
Net Profit (mn)
4Q2013
% Change
YoY
Al-Khabeer Capital (AKC)* Saudi SR 125.0 NA – – 43.3 NA
Eshraq Properties Co.* Abu Dhabi AED 716.6 26.0% – – 318.7 11.5%
Abu Dhabi Ship Building
(ADSB)*
Abu Dhabi AED 1,118.6 -12.4% – – 48.0 78.2%
National Hospitality Institute
(NHI)*
Oman OMR 0.7 -4.8% – – – –
Kuwait Consulting and
Investment Co. (KCIC)*
Kuwait KD 7.8 NA – – 1.0 NA
Source: Company data, DFM, ADX, MSM (*FY2013 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
03/11 US BLS JOLTs Job Openings January 4015 3914 3914
03/11 US US Census Bureau Wholesale Inventories MoM January 0.40% 0.40% 0.40%
03/11 US US Census Bureau Wholesale Trade Sales MoM January 0.20% 0.10% 0.10%
03/11 Germany Destatis Labor Costs WDA YoY 4Q2013 – 1.90% 1.90%
03/11 Germany Destatis Trade Balance January 15.0B 13.9B 13.9B
03/11 Germany Deutsche Bundesbank Exports SA MoM January 1.50% -0.90% –
03/11 Germany Deutsche Bundesbank Imports SA MoM January 1.40% -1.40% -1.40%
03/11 UK UK Office for Nat. Statist Industrial Production MoM January 0.20% 0.50% 0.50%
03/11 UK UK Office for Nat. Statist Industrial Production YoY January 3.00% 1.90% 1.90%
03/11 UK UK Office for Nat.Statist Manufacturing Production MoM January 0.30% 0.40% 0.40%
03/11 UK UK Office for Nat.Statist Manufacturing Production YoY January 3.30% 1.40% 1.40%
03/11 UK Nat. Institute of Eco. NIESR GDP Estimate February – 0.70% 0.70%
03/11 Italy ISTAT GDP WDA QoQ 4Q2013 0.10% 0.10% –
03/11 Italy ISTAT GDP WDA YoY 4Q2013 -0.80% -0.80% –
03/11 Japan Bank of Japan Money Stock M2 YoY February 4.40% 4.30% 4.30%
03/11 Japan Bank of Japan Money Stock M3 YoY February 3.50% 3.50% –
03/11 Japan JMTBA Machine Tool Orders YoY February – 40.30% –
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar Rail awards €506mn Doha Metro contract – The Qatar
Railways Company has awarded a €506mn contract to build
three stations and a 6.97-kilometer long stretch of the Doha
Metro to a consortium led by Spain's FCC. The consortium is
made up of FCC, Greece-based Archirodon, Turkey-based
Yuksel and Petroserv of Qatar. The execution period of the
contract is 31 months, which includes building three elevated
stations at Barwa Village, Al Wakrah and the Qatar Economic
Zone, and tunneling the road at the entrance to Al Wakrah.
(GulfBase.com)
 IQCD AGM approves 110% cash dividend – Industries Qatar‟s
(IQCD) AGM has approved the board‟s recommendation for
110% cash dividend, representing QR11.00 per share. (QE)
 QIIK to focus on expanding in Qatar – Qatar International
Islamic Bank‟s (QIIK) CEO Abdulbasit A al-Shaibei said that the
bank has its eyes set on gaining a major share of the rapidly
expanding Qatari market and will expand both on the corporate
and retail businesses. Al-Shaibei said that many new projects
Overall Activity Buy %* Sell %* Net (QR)
Qatari 67.87% 67.62% 1,640,647.65
Non-Qatari 32.13% 32.39% (1,640,647.65)

3. Page 3 of 5
are in the pipeline and the bank expects to do more business,
keeping pace with Qatar‟s growth. He added that the bank has
planned to set up six new branches in Qatar in 2014, but
currently, there are no plans to enhance the bank‟s capital.
(Gulf-Times.com)
 QE suspends trading in QISI, MCGS shares on March 12 –
The Qatar Exchange (QE) has suspended trading in the shares
of two companies on March 12, 2014 due to their AGMs being
scheduled on that day. The two companies are: Qatar Islamic
Insurance Company (QISI) and Medicare Group (MCGS). (QE)
 QNNS’ AGM to be held on March 26 – The Qatar Navigation
Company‟s (QNNS) AGM is scheduled to be held on March 26,
2014 at the Great Room, W Hotel. In case of lack of quorum,
another meeting will be held on March 30, 2014 at the same
place. The AGM‟s agenda includes approving the board of
directors‟ recommendation of distributing 50% cash dividends
(QR5 per share) for 2013, among others. (QE)
 HFC to sign meat import deal with Bulgaria – Qatar-based
Hassad Food Company (HFC) will be visiting Bulgaria next
month to sign a new meat import agreement and explore
possibilities of buying land for agriculture. Hassad Food is
planning to take this relationship to a higher level by investing in
Bulgaria‟s agriculture sector. (Qatar Tribune)
 Al Wa'ab City to serve a community of 50,000 – Lebanon-
based Benchmark Company is constructing Al Wa'ab City, one
of the largest privately owned real estate projects in Qatar.
Bassim Halaby, Chairman & CEO of Benchmark said that Al
Wa'ab City will be a mix of 2,400 apartments and villas, which
will accommodate a total of 8,000 residents and serve a
community of 50,000 people. The 1.3mn square meter mega
project, which is being developed as a central district, is
expected to be completed by 2017. Further, Halaby said a
world-class mall will be operational at Al Wa'ab City by the end
of 2014 or early 2015. (Gulf-Times.com)
 Qatalum posts world’s best power efficiency – Qatar
Aluminum Company (Qatalum) has recorded the best
rectiformer efficiency levels in the world. Rectiformers, which
convert AC power into DC power, play a vital role in the
aluminum smelting process. Qatalum‟s rectiformers have
recorded zero loss in terms of kilo amps per hour in more than
two years, an unprecedented achievement. (GulfBase.com)
International
 US Fed set to drop threshold guidance under Yellen – Janet
Yellen's first policy-setting meeting as the chair person of the US
Federal Reserve will focus on how to fine tune the central bank's
promise in order to keep interest rates low without roiling
financial markets. Fed policymakers are expected to decide next
week to scrap their threshold of a 6.5% unemployment rate used
for considering a rate rise, and instead embrace new language
that is less specific about when tighter policy might come. The
threshold has been a staple of the central bank's „forward
guidance‟ since December 2012, when it was first adopted to
underscore a commitment to stimulate the US economy until it
was on surer footing. However, the US unemployment rate has
come down at a surprising speed, and now stands at 6.7%,
leaving Fed officials anxious to adopt a new guidance in line
with their view that the economy won't be ready for higher rates
for some time to come. (Reuters)
 EU ministers hold line on bank failures as ECB sees risks –
European finance ministers made a few concessions to break a
deadlock on a bank-failure bill, since the European Central Bank
(ECB) warned that failure to enact it would hinder efforts to
combat fragmentation of the financial sector. At the end of talks
in Brussels, ministers identified six areas for possible
compromise in talks with the European Parliament on the Single
Resolution Mechanism legislation. However, details of new room
for maneuver were in short supply as meetings wrapped up, and
the consensus was that the parliament would need to cede
ground for a deal to get done. (Bloomberg)
 ONS: UK manufacturing output grows more than forecast –
Factory production in the UK rose more than forecast in January
2014, adding to evidence for a broadening recovery. The Office
for National Statistics (ONS) said output rose 0.4% from
December, when it also gained at the same rate. The median of
25 estimates in a Bloomberg News survey was for 0.3% growth.
Industrial production, which includes utilities and mines, rose
0.1% – less than the 0.2% forecast – as bad weather hit oil &
gas output. Meanwhile, the Bank of England Governor Mark
Carney said a recovery is under way in the UK, though
investment and exports need to keep growing for it to be
sustained. Officials have pledged to hold the key interest rate at
a record low of 0.5% at least until unemployment falls to 7%
(now at 7.2%). (Bloomberg)
 PBoC ready to cut bank reserves if growth falters –
According to sources, China's central bank is prepared to take
its strongest action since 2012 to loosen its monetary policy if
economic growth slows further, by cutting the amount of cash
that banks must keep as reserves. A cut would be triggered if
growth slips below 7.5% and toward 7.0%. Apart from
supporting a stumbling economy, the stronger action of cutting
bank reserves would provide a cushion against any shocks from
financial reforms that the People's Bank of China (PBoC) is
widely expected to push through this year, including a widening
of the Yuan's trading band to give the currency more room to
rise or fall each day and allowing banks more room to set
deposit rates. (Reuters)
Regional
 Centrepoint to invest AED1bn in 100 stores – Landmark
Group‟s Centrepoint will invest AED1bn to set up 100 new
outlets and hire around 10,000 employees over the next five
years across the MENA region. Centrepoint‟s Director, Vinod
Talreja, said that the group will enter new markets in MENA
such as Iraq and Libya over the next few months. Centrepoint is
planning to open 20 stores in 2014 and 15 stores in 2015. In
2014, the company is set to open 7-9 new stores in the UAE and
hire 1,000 new employees. (GulfBase.com)
 Saudi oil output inches up to 9.849mn bpd in February –
According to sources, Saudi Arabia produced 9.849mn bpd of
crude oil in February, up from 9.767mn bpd in January. The
Kingdom supplied 9.899mn bpd in February to the market, down
from 9.916mn bpd in January. However, market supply from the
OPEC heavyweight may differ from production depending on the
movement of barrels in and out of storage. (Reuters)
 Saudi Aramco to produce gas for phosphate project, power
plant – According to sources, Saudi Aramco is planning to
produce 200mn cubic feet per day (cfd) of unconventional
natural gas by 2018 to supply to a new phosphate project and a
power plant. Out of this, 40mn cfd will be supplied to the
phosphate project that the Saudi Arabian Mining Co. is
developing at the Waad al Shamal Mining City, while 160mn cfd
will be supplied to the Saudi Electricity Company for a power
plant. Aramco is keen to increase gas output as it can fetch
$100 per barrel by exporting crude oil versus around $4 if it sells
it to a Saudi power plant. (GulfBase.com)
 GHG plans two properties in Dubai – Gulf Hotels Group
(GHG) is expanding beyond the shores of Bahrain and plans to

4. Page 4 of 5
set up two five-star hotels in Dubai over the next few years.
GHG‟s Chairman Farouk Almoayyed said that BD50mn will be
invested in the development of the five-star hotel, Gulf Hotel
Business Bay. He said this waterfront property, located 1.5
kilometers from Burj Khalifa and Dubai Mall, is now in the design
stage and is expected to open mid-2017. The hotel will feature
230 rooms, three fine-dining restaurants, a variety of function
halls and meeting facilities. (Bloomberg)
 DMCC, USSC sign deal to boost ties – Dubai Multi
Commodities Centre (DMCC) has signed a MoU with the United
States Chamber of Commerce (USCC) to promote trade
between the UAE and the US. The UAE is America‟s largest
export market in the Middle East, with over $22.5bn in exports in
2012. Around 1,000 US firms have presence in the UAE, of
which 294 are based in the DMCC Free Zone. (GulfBase.com)
 Emirates REIT IPO to raise AED500mn on Nasdaq Dubai –
The UAE‟s first real estate investment trust, Emirates REIT has
planned to raise at least AED500mnthrough an IPO of its shares
on the Nasdaq Dubai bourse. The equity listing would be only
the second IPO on Dubai's two stock exchanges since 2009.
The company‟s Chairman, Abdulla al-Hamli said that the
company will use the proceeds for future acquisitions and
investment in existing assets. Emirates REIT was established in
2010 by the Dubai Islamic Bank and France-based Eiffel
Management for investing in real estate. Emirates REIT has
appointed Shuaa Capital and Emirates NBD as joint
bookrunners for the IPO. (Reuters)
 DSI awards key supply contract to OSES – Drake & Scull
International (DSI) has awarded a key supply contract to Off-Site
Engineering Solutions (OSES), a Dubai-based specialist
provider of pre-engineered MEP solutions. The deal awarded by
DSI‟s Saudi unit is for supply of prefabricated multi service
modules to the Jabal Omar Development in Makkah. The scope
includes services in the main corridors to the four towers in the
development. The MEP modules will be delivered to site fully
finished and will be manufactured in OSES‟ Jeddah workshop.
(Bloomberg)
 NBAD predicts 8-10% loan growth in 2014 – The National
Bank of Abu Dhabi‟s (NBAD) Chief Executive Alex Thursby said
that the bank expects 8-10% growth in its loans in 2014.
Thursby said the loan growth will be positive in 2014 since there
are many growth drivers such as current account, trade, foreign
exchange, etc. Last year, NBAD's net loans and advances rose
11.7% to AED183.8bn. Meanwhile, First Gulf Bank, the UAE's
second-largest lender, has also predicted 2014 loan growth to
be in low double digits. (Reuters)
 NBAD plans second sale of Kangaroo bonds; declares 50%
dividends – The National Bank of Abu Dhabi (NBAD) is
planning to sell Kangaroo bonds, its second foray into the
Australian dollar-denominated debt market, as it diversifies its
investor base. ANZ Banking Group, Citigroup, HSBC Holdings
and NBAD are arranging the sale of five-year notes. According
to sources, NBAD is marketing the sale at about 130 basis
points more than swaps. NBAD is selling bonds in diverse
currencies right from the Mexican peso to Malaysia‟s ringgit in
order to tap wider investor pools. Meanwhile, NBAD‟s AGM has
approved the distribution of 40% cash dividend and 10% stock
dividend for the year ended December 31, 2013. (Bloomberg)
(GulfBase.com)
 Eshraq’s BoD proposes 5% cash dividend, 10% bonus
shares – Eshraq Properties Company‟s board of directors has
proposed the distribution of 5% cash dividend and 10% bonus
shares to the shareholders for the year ended December 31,
2013. (ADX)
 DDC, Starcare sign OMR7mn hospital deal – Duqm
Development Company (DDC) and Starcare Hospital have
signed an agreement to establish a multi-specialty, state-of-the-
art hospital at Duqm. The project‟s development cost is
estimated at around OMR7mn. Starcare is also setting up a 24-
hour multi-specialty medical center and pharmacy with the
support from DDC. While the hospital project will take two years
to be completed, the medical center is scheduled to open within
five months. The first phase of the hospital is a 30-35 bed
inpatient facility built at a cost of around OMR3.5-4mn, while in
the second phase, the hospital will have 75 beds at a cost of
around OMR7-8mn. (GulfBase.com)
 DUTYF declares 55% cash dividend – Bahrain Duty Free
Shop Complex‟s (DUTYF) AGM has approved its board‟s
proposal to distribute 55% cash dividend, representing 55 fils
per share, of which 20 fils per share has already been
distributed as interim dividend. (Bahrain Bourse)
 Bhotel declares 40% cash dividend – Gulf Hotels Group‟s
(Bhotel) AGM has approved its board‟s proposal to distribute
40% cash dividend (40 fils per share) for 2013. (Bahrain Bourse)

5. Contacts
Saugata Sarkar Ahmed M. Shehada Keith Whitney Sahbi Kasraoui
Head of Research Head of Trading Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@qnbfs.com.qa ahmed.shehada@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
0.1%
(1.7%)
0.4%
0.0%
(0.2%)
(1.0%)
(1.4%)
(2.0%)
(1.6%)
(1.2%)
(0.8%)
(0.4%)
0.0%
0.4%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,348.97 0.7 0.7 11.9 DJ Industrial 16,351.25 (0.4) (0.6) (1.4)
Silver/Ounce 20.85 0.1 (0.3) 7.1 S&P 500 1,867.63 (0.5) (0.6) 1.0
Crude Oil (Brent)/Barrel (FM
Future)
108.55 0.4 (0.4) (2.0) NASDAQ 100 4,307.19 (0.6) (0.7) 3.1
Natural Gas (Henry
Hub)/MMBtu
4.65 0.6 (2.5) 7.1 STOXX 600 331.49 0.0 (0.5) 1.0
North American Spot LPG
Propane Price
109.50 0.9 0.9 (13.4) DAX 9,307.79 0.5 (0.5) (2.6)
North American Spot LPG
Normal Butane Price
120.50 (0.4) (0.4) (11.2) FTSE 100 6,685.52 (0.1) (0.4) (0.9)
Euro 1.39 (0.1) (0.1) 0.9 CAC 40 4,349.72 (0.5) (0.4) 1.3
Yen 103.02 (0.2) (0.3) (2.2) Nikkei 15,224.11 0.7 (0.3) (6.6)
GBP 1.66 (0.2) (0.6) 0.4 MSCI EM 955.89 0.1 (1.1) (4.7)
CHF 1.14 (0.1) (0.0) 1.7 SHANGHAI SE Composite 2,001.16 0.1 (2.8) (5.4)
AUD 0.90 (0.5) (1.0) 0.7 HANG SENG 22,269.61 0.0 (1.7) (4.4)
USD Index 79.74 (0.0) 0.0 (0.4) BSE SENSEX 21,826.42 (0.5) (0.4) 3.1
RUB 36.52 0.5 0.2 11.1 Bovespa 45,697.62 0.4 (1.2) (11.3)
BRL 0.42 (0.5) (1.0) (0.0) RTS 1,132.05 (2.3) (2.3) (21.5)
165.4
145.5
132.7