The QSE Index in Qatar declined 0.2% led by losses in the Insurance and Industrial indices. Widam Food Co. and Al Meera Consumer Goods Co. were the top losers. Meanwhile, indices in other GCC countries were mixed - Saudi Arabia and Kuwait rose while Abu Dhabi and Oman fell. International news discussed the US pushing China for greater market access at annual trade talks with little progress seen amid ongoing tensions.

1. Page 1 of 5
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.2% to close at 10,836.2. Losses were led by the Insurance and
Industrials indices, falling 0.7% each. Top losers were Widam Food Co. and Al Meera
Consumer Goods Co., falling 2.9% and 2.2%, respectively. Among the top gainers, Ahli
Bank gained 3.5%, while Qatar Navigation was up 1.4%.
GCC Commentary
Saudi Arabia: The TASI Index rose 2.1% to close at 7,179.2. Gains were led by the Real
Estate Development and Insurance indices, rising 3.3% and 2.9%, respectively. Alinma
Tokio Marine rose 10.0%, while Al Alamiya for Coop. Ins. Co. was up 9.9%.
Dubai: The DFM Index gained 0.5% to close at 3,289.7. The Transportation index rose
1.3%, while the Financial & Investment Services index gained 0.7%. Hits Telecom
Holding Co. surged 11.1%, while Takaful Emarat Insurance was up 6.7%.
Abu Dhabi: The ADX benchmark index fell 0.2% to close at 4,250.8. The Consumer
Staples index declined 1.7%, while the Telecommunication index fell 1.2%. National
Marine Dredging Co. and Union National Bank were down 10.0% each.
Kuwait: The KSE Index gained 0.5% to close at 5,756.1. The Telecommunication index
rose 5.4%, while the Financial Services index gained 1.3%. KAMCO Investment Co. rose
9.8%, while Hits Telecom Holding Co. was up 8.3%.
Oman: The MSM Index fell 0.2% to close at 5,781.9. The Financial index declined 0.9%,
while the other indices ended in green. Oman & Emirates Investment Holding fell 4.0%,
while Oman International Development & Inv. Co. was down 3.8%.
Bahrain: The BHB Index gained 0.5% to close at 1,224.9. The Industrial index rose 4.3%,
while the Investment index gained 0.3%. Aluminium Bahrain rose 4.4%, while the
Bahrain Commercial Facilities Co. was up 4.3%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Ahli Bank 47.00 3.5 12.5 (13.9)
Qatar Navigation 98.40 1.4 9.8 (1.1)
Commercial Bank 50.10 1.0 72.5 (26.9)
National Leasing 15.55 1.0 37.7 (22.3)
Doha Bank 47.40 0.6 475.0 (16.8)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. 24.90 (0.4) 1,592.9 7.8
Doha Bank 47.40 0.6 475.0 (16.8)
Masraf Al Rayan 39.60 0.3 268.6 (10.4)
Ezdan Holding Group 17.40 0.5 251.0 16.6
Gulf International Services 56.90 (0.2) 209.7 (41.4)
Market Indicators 22 Nov 15 19 Nov 15 %Chg.
Value Traded (QR mn) 142.8 192.4 (25.8)
Exch. Market Cap. (QR mn) 569,179.6 570,540.4 (0.2)
Volume (mn) 3.9 4.8 (20.0)
Number of Transactions 1,743 2,753 (36.7)
Companies Traded 40 39 2.6
Market Breadth 11:23 23:8 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,843.30 (0.2) (0.2) (8.1) 11.2
All Share Index 2,888.28 (0.2) (0.2) (8.3) 11.4
Banks 2,911.10 (0.1) (0.1) (9.1) 11.8
Industrials 3,206.53 (0.7) (0.7) (20.6) 12.2
Transportation 2,561.16 0.4 0.4 10.5 12.2
Real Estate 2,536.86 0.1 0.1 13.0 8.2
Insurance 4,226.16 (0.7) (0.7) 6.8 11.7
Telecoms 975.05 (0.1) (0.1) (34.4) 21.3
Consumer 6,445.47 (0.5) (0.5) (6.7) 13.7
Al Rayan Islamic Index 4,072.06 (0.4) (0.4) (0.7) 12.0
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Saudi Enaya Coop. Ins. Saudi Arabia 18.05 9.9 1526.6 (30.4)
Emaar Economic City Saudi Arabia 9.55 9.5 6133.8 (19.7)
Knowledge Eco. City Saudi Arabia 16.76 8.8 10586.8 (1.0)
Makkah Const. & Dev. Saudi Arabia 74.90 5.4 227.2 (4.8)
F.A. Alhokair & Co. Saudi Arabia 73.58 5.3 215.3 (25.7)
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Nat. Marine Dred. Co. Abu Dhabi 4.86 (10.0) 34.8 (29.6)
Union Nat. Bank Abu Dhabi 5.33 (10.0) 151.8 (8.1)
Aviation Lease & Fin. Kuwait 0.22 (2.6) 64.4 (5.2)
Kuwait Cement Co. Kuwait 0.40 (2.5) 0.8 (1.3)
Al Meera Con. Goods Qatar 227.00 (2.2) 23.6 13.5
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%
Widam Food Co. 48.50 (2.9) 0.9 (19.7)
Al Meera Consumer Goods Co. 227.00 (2.2) 23.6 13.5
Aamal Co. 13.11 (1.8) 17.0 (13.7)
Qatar Industrial Manufact. Co. 41.05 (1.8) 0.5 (5.3)
Qatar Oman Investment Co. 12.80 (1.5) 7.7 (16.9)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Qatar Gas Transport Co. 24.90 (0.4) 39,730.2 7.8
Doha Bank 47.40 0.6 22,337.3 (16.8)
Industries Qatar 111.00 (1.2) 13,361.0 (33.9)
Gulf International Services 56.90 (0.2) 11,869.6 (41.4)
Masraf Al Rayan 39.60 0.3 10,619.7 (10.4)
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* 10,836.19 (0.2) (0.2) (6.6) (11.8) 39.21 156,467.5 11.2 1.6 4.7
Dubai 3,289.74 0.5 0.5 (6.1) (12.8) 85.28 88,604.1 12.9 1.2 7.6
Abu Dhabi 4,250.82 (0.2) (0.2) (1.6) (6.1) 39.46 117,803.3 11.1 1.2 5.8
Saudi Arabia 7,179.17 2.1 2.1 0.8 (13.8) 1,367.77 438,823.5 16.2 1.7 3.6
Kuwait 5,756.14 0.5 0.5 (0.3) (11.9) 61.35 89,743.5 14.8 1.0 4.4
Oman 5,781.90 (0.2) (0.2) (2.5) (8.8) 4.77 23,494.5 10.4 1.2 4.5
Bahrain 1,224.90 0.5 0.5 (2.0) (14.1) 0.79 19,203.4 8.0 0.8 5.6
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)
10,800
10,820
10,840
10,860
10,880
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 0.2% to close at 10,836.2. The Insurance and
Industrial indices led the losses. The index fell on the back of selling
pressure from Qatari shareholders despite buying support from non-Qatari
and GCC shareholders.
 Widam Food Co. and Al Meera Consumer Goods Co. were the top losers,
falling 2.9% and 2.2%, respectively. Among the top gainers, Ahli Bank
gained 3.5%, while Qatar Navigation was up 1.4%.
 Volume of shares traded on Sunday fell by 20.0% to 3.9mn from 4.8mn on
Thursday. Further, as compared to the 30-day moving average of 7.3mn,
volume for the day was 47.4% lower. Qatar Gas Transport Co. and Doha
Bank were the most active stocks, contributing 41.2% and 12.3% to the
total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases
Earnings Releases
Company Market Currency
Revenue (mn)
3Q2015
% Change
YoY
Operating Profit
(mn) 3Q2015
% Change
YoY
Net Profit (mn)
3Q2015
% Change
YoY
International Financial
Advisors (IFA)
Kuwait KD 3.2 -45.6% – – -3.8 NA
Source: Company data, DFM, ADX, MSM
News
Qatar
 IBQ’s $500mn bond issue oversubscribed – International Bank of
Qatar (IBQ) has said its debut five-year $500mn bond issue was
oversubscribed, indicating strong response from international,
regional and local investors. The bond issue comes under its $2bn
euro medium term note program. However, the bank did not
disclose the size of the oversubscription. The notes were issued by
IBQ Finance, a wholly-owned IBQ subsidiary in the Cayman Islands
and unconditionally guaranteed by the parent organization. The
bond, which is the first public bond issue by IBQ and listed on the
Irish Stock Exchange, has been rated “A2” by Moody’s and “A ” by
Fitch. The issue was jointly managed by Citigroup, QNB Capital and
Standard Chartered Bank. UNB was co-lead manager. (Gulf-
Times.com)
 CBQK assigns Al Rayes responsibility for government and public
sector business – Commercial Bank (CBQK) has announced that
Khalifa Nasser Al Rayes has been assigned responsibility for the
bank’s government and public sector business. Khalifa has been
with CBQK for over ten years, serving in numerous senior
positions including Head of Private Banking, and has extensive
knowledge of the Qatari market. This executive decision will allow
the bank to strategically expand its government and public sector
business relationships with key customers transforming it into a
multidimensional business. (Peninsula Qatar)
 Woqod plans to build 16 petrol stations – Al Watan citing Qatar
Fuel (Woqod) engineering services manager Ahmed Mirza has
reported that the company is planning to build 16 petrol stations
in Qatar. Woqod will reportedly spend QR300mn on establishing
these gas stations in 2016. (Bloomberg)
 E-commerce on an upswing in Qatar despite hurdles – E-commerce
is poised for growth in Qatar with online shopping gaining
popularity, especially among young citizens and residents over the
past couple of years. And to make it easier, portals have started
offering services via mobiles. The Ministry of Information and
Communications Technology (ictQATAR) recently issued a road
map for the future of e-commerce with a focus on creating a user-
friendly environment for online shopping in the country. In a boost
for e-commerce, Chairman of Catalyst LLC Sheikh Tareq bin Faisal
al Thani has signed a memorandum of understanding (MoU) with
a German firm to bring in a complete suite of e-commerce services
to Qatar. Experts and e-commerce companies in Qatar are now
looking for innovative ways to promote the sector. (Qatar-
Tribune.com)
 QA showcases award-winning customer service – Qatar Airways
(QA) has highlighted the importance of its passenger-centric
approach to customer experience at the recently concluded Future
Travel Experience (FTE) Asia Expo 2015. Held in Singapore, FTE
Asia Expo 2015 was the biggest FTE show in its 10-year history,
attracting more than 1,000 senior travel industry figures from the
region and beyond. The expo provided a platform for airlines and
airports in the region to share ideas and view the latest solutions
in one place to help them improve customer experiences, increase
revenues, drive operational efficiency and reduce costs. (Gulf-
Times.com)
 ORDS offers 30GB data for QR100 – Ooredoo (ORDS) has
announced a new flash promotion to provide Hala and Shahry
customers with five times the data allowance when they activate a
6GB data recharger. The promotion will give customers 30GB of
data for the price of 6GB (QR100), by topping up their accounts
with 6GB data recharge. The offer is available during November
23-25, 2015. The extra data will be available for 30 days once
activated on the promotional dates and customers can access 6GB
data recharge via Ooredoo’s self-service machines, Ooredoo App,
Ooredoo web or can purchase the card or e-vouchers from
Ooredoo shops and authorised dealers. The promotion aims to
give customers more chance to enjoy the incredible speeds of
Ooredoo Supernet for less, as the company continues to find new
ways to offer a richer data experience to its customers. (Peninsula
Qatar)
International
 US pushes China on market access, little progress seen – The US
pushed China for greater market access at annual trade talks in
China, though few breakthroughs are expected amid tensions over
cyber hacking and rules that could hamper foreign tech firms.
Presidents Barack Obama and Xi Jinping had agreed in September
2015 that neither government would knowingly support cyber
Overall Activity Buy %* Sell %* Net (QR)
Qatari 53.94% 68.87% (21,324,269.91)
GCC 10.88% 6.56% 6,163,303.38
Non-Qatari 35.18% 24.56% 15,160,966.53

3. Page 3 of 5
theft of corporate secrets to support domestic businesses, but US
experts argue Chinese hackers have continued to penetrate US
firms. Those issues, and slow progress on a bilateral investment
treaty (BIT), have combined to sour commercial relations, and
experts think the meeting of the Joint Commission on Commerce &
Trade (JCCT) that ends today in the southern Chinese city of
Guangzhou will do little to alleviate the mood. At the talks, US
Trade Secretary Michael Froman called on China to allow
"substantial liberalization" of a so-called "negative list" regulating
foreign market access to China. (Reuters)
 Swiss central bank criticized as economy takes franc hit – According
to the economists, the Swiss National Bank (SNB) should make
more efforts to protect Switzerland's economy from the impact of
an overvalued franc. The SNB abandoned its cap on the franc in
January 2015 and is instead using negative interest rates and
interventions in the forex market to reduce the attractiveness of
the currency, traditionally viewed as a safe haven by investors. The
Swiss currency soared against the single currency after the 1.20
per euro cap was dropped and remains about 10% higher since
January. However, as the negative impact of the strong franc on
Switzerland's export-driven economy becomes more tangible, calls
for the SNB to adjust its course are growing louder. Orders and
profits at Swiss industrial firms are suffering and some companies
have begun to move activities abroad. (Reuters)
 Italy launches €3.6bn bank rescue with new fund – Italy launched a
new system to undertake a €3.6bn rescue of four small savings
banks before stricter rules for winding down lenders take effect in
2016. The cost of the rescue, to be conducted by the Bank of Italy,
will be borne by the country's healthy banks, which pay into a
newly-formed National Resolution Fund, not by taxpayers. Italy
wants to save the banks before January, when new EU rules take
effect under which depositors with more than €100,000, as well as
shareholders and bondholders will have to bear losses before
public money can be used to prop up a bank. Under the rescue plan
announced, shareholders and junior bondholders in the banks will
take a loss, but holders of deposits, current accounts and ordinary
bonds will not. (Reuters)
 Japan government plans to raise minimum wage to boost economy
– According to a draft of economic stimulus measures, Japan's
government plans to raise the minimum wage and wages paid to
other workers to meet its target of raising nominal gross domestic
product to 600tn yen in five years. The government will also offer
some financial support to people living off their pensions to
bolster consumer spending. Prime Minister Shinzo Abe's
government will reward companies that invest in plants and
equipment that improve energy efficiency, and encourage capital
expenditure by small firms. The government will also provide a
time frame for lowering the corporate tax rate below 30% to
improve competitiveness. Economics Minister Akira Amari will
present the draft at a meeting of the government's top advisory
panel on Tuesday. Abe's government is due to finalize economic
stimulus measures by November-end. (Reuters)
 China offers $10bn in infrastructure loans for Southeast Asia –
Chinese Vice Foreign Minister Liu Zhenmin said the country is
offering $10bn in infrastructure loans to Southeast Asian
countries. The world's second-largest economy will also provide
aid worth $560mn to underdeveloped states within the
Association of Southeast Asian Nations (ASEAN) in 2016.
However, Liu did not say which bank would provide the loans. The
pledges come as China seeks to expand its influence in the
developing world, including Southeast Asia, with government aid
programs and loans. The Asian Infrastructure Investment Bank
(AIIB), a development bank backed by China, won support from
Asian and Western European economies this year despite an
ambivalent response from the US. The AIIB was officially created
in June 2015 and is set to rival the World Bank and Asian
Development Bank in development work in Asia. It is set to
officially launch in 2015-end. Meanwhile, the Chinese state council
said that the country will promote the development of the retail,
health, travel and sports sectors in a bid to boost domestic
consumption. The State Council said it will encourage financial
institutions to accept a broader range of collateral for extending
loans to "lifestyle-related businesses". Other sectors that the
government highlighted are service ones related to families and
the elderly, culture, law, accommodation & catering as well as
education & training. The State Council said the government will
also expand consumer credit, improve the system of internet
payments and study the management of credit card fees "to
further reduce overall expenses" related to their use. (Reuters)
Regional
 APC BoD recommends SR123mn dividend for 4Q2015 – Advanced
Petrochemical Company’s (APC) board of directors (BoD) has
recommended the distribution of 7.5% (SR0.75 per share)
dividend, amounting to SR123mn for 4Q2015. Shareholders
registered with the Securities Depository Center (Tadawul) as at
the end of the general assembly meeting day, to be determined
after the approval of the regulatory authorities, will be eligible for
dividends. As a result, total cash dividends for the year ending
December 31, 2015 will be SR492mn (SR3 per share). (Tadawul)
 Shuaa’s Saudi hotel projects nearing completion – Shuaa Capital has
said that two of its principal hotel projects in Saudi Arabia, the
Centro Shaheen by Rotana hotel in Jeddah and the Centro Waha by
Rotana hotel in Riyadh are nearing completion. The handover
process for the Centro Shaheen will start later in November 2015.
The hotel is expected to be operational in 1Q2016. The Centro
Waha is scheduled to be handed over to the management company
in 1Q2016 and is expected to begin operations by 2Q2016.
(Gulfbase.com)
 APICORP plans $1bn Sukuk in 2016 – Arab Petroleum Investments
Corporation (APICORP) Chairman Aabed al-Saadoun has said that
the investment bank will issue $1bn Sukuk in 2016 out of $3bn
program. He said an additional $1.5bn Sukuk might be issued in
2017 and the entire program may be completed in 4-5 years.
(Bloomberg)
 UAE approves AED300bn spending plan to build knowledge
economy – The UAE has approved an AED300bn investment plan
to boost its knowledge economy, spanning sectors such as health,
transportation and education. The expenditure is part of the
nation’s plan to diversify its economy away from crude, which
accounts for around 30% of its GDP. (Bloomberg)
 UAE, Australia sign aviation deal – The UAE and Australia have
signed a deal that will significantly boost the number of flights
between the two nations. This bilateral agreement allows Emirates
and Etihad Airways to operate 14 more flights a week to Sydney,
Melbourne, Brisbane and Perth, bringing the total number of
services to 161. In return, Australian airlines receive another 14
flights slot to the UAE, bringing the total to 56. The move is
expected to increase tourism and possibly reduce ticket prices.
(Gulfbase.com)
 UAE-Netherlands non-oil trade rose 18.7% in 2014 – Ministry of
Economy Undersecretary Engineer Mohammed Ahmed Bin Abdul
Aziz Al Shehhi has said that the volume of non-oil trade between
the UAE and the Netherlands had reached around $2.67bn by
2014-end, up from $2.17bn by the end of 2013, reflecting an
increase of 18.7%. He said the UAE and the Netherlands share
long-standing and cordial relations. The ties between the two
nations are projected to get stronger in the light of the positive
interest registered by both sides to enhance synergies.
(Gulfbase.com)

4. Page 4 of 5
 Dana Gas wins UK court ruling for $100mn Kurdistan payment –
Dana Gas disclosed that the High Court of England handed down
its decision on November 20, 2015 enforcing the London Court of
International Arbitration Tribunal’s peremptory order dated
October 17, 2014. The High Court order requires the Kurdish
Regional Government (KRG) to pay the consortium comprising
Dana Gas, along with Crescent Petroleum and Pearl Petroleum
Company Limited, $100mn within a period 14 days. (ADX, Zawya)
 Finance Minster: Kuwait may raise fees for services – Kuwaiti
Minister of Finance Anas Al Saleh has said that the government is
studying whether to raise fees for its services. The study is part of
a project to rationalize spending, review subsidies and diversify
sources of revenue. He said it is not only intended to plug the
(budget) deficit resulting from low oil prices, but will be
permanent irrespective of the movement of oil prices. He added
that any increase in service fees or gasoline prices would be
decided by the cabinet rather than through parliamentary
legislation. However, the cabinet would consult lawmakers on
issues that required legislation. (Reuters)
 Dhofar University seeks shareholders’ nod to transform into a
closed stock company – Dhofar University has invited its
shareholders to attend the extra-ordinary general meeting of the
company on November 28, 2015. Shareholders at the meeting will
consider approving the repurchase by the company of its own
shares not exceeding 10% of its share capital. Shareholders will
also consider approving the transformation of the company from a
joint stock to a closed stock company and the amendment of the
articles of association accordingly. This agenda will be carried out
after the completion of the re-purchase of the shares. (MSM)
 Ominvest BoD appoints Chairman – Oman International
Development & Investment Company’s (Ominvest) board of
directors (BoD) has elected Mr. Khalid Muhammed Al Zubair as its
Chairman and Mr. Hassan Ahmed Mohamed Al Nabhani as the
Deputy Chairman. (MSM)
 S&P cuts Oman credit rating – Standard & Poor’s (S&P) has
downgraded Oman’s sovereign debt indicating growing pressure
on the finances of some Gulf Arab oil exporters. The rating agency
lowered Oman’s long-term local and foreign currency ratings to
BBB-plus from A-minus and kept a negative outlook, citing risks
over the next two years. S&P took its action after recently
published Omani finance ministry data showed the government
posted a budget deficit of OMR2.93bn in 9M2015, as against a
surplus of OMR136.1mn in 9M2014. (Gulfbase.com)
 NCSI: Oman real estate activity reaches OMR3.42bn by Oct 2015-
end – According to data released by the National Centre for
Statistics and Information (NCSI), the total traded value of real
estate activity in Oman reached OMR3.42bn by October 2015-end,
reflecting an increase of 40.7% YoY. The traded value of selling
contracts also rose by 2.3% to a record OMR1.02bn. The traded
value of exchange contracts was recorded at OMR17.6mn till
October end, reflecting a significant hike of 91.3% YoY. The
number of exchange contracts also recorded an increase of 17.8%
YoY to touch 1,133 contracts by October 2015-end. (GulfBase.com)
 Oman plans $1bn five-year loan – According to sources, the
government of Oman has invited banks to participate in a $1bn
sovereign loan, as the Gulf country seeks funds at a time of
stretched state finances due to lower oil prices. The loan will be
arranged by Citigroup, Gulf International Bank and Natixis and will
run for five years. The interest rate on the loan will be 110 basis
points over the London interbank offered rate (Libor).
(Bloomberg)
 STC set for new push in Bahrain – Saudi Telecom Company (STC)
Chief Executive Dr. Khalid Al Biyari has said that the company is in
talks with its subsidiary VIVA Bahrain to launch many new
initiatives in the Bahraini market. He said Bahrain’s
telecommunication market is promising, pointing out that the
upcoming phase will see increased investment. VIVA Bahrain Chief
Executive Ulaiyan Al Wetaid underlined the importance to
continue being part of Bahrain’s future vision, pointing out strong
partnership with the higher education sector in Bahrain.
(Gulfbase.com)
 AUB preference shares delist – Ahli United Bank (AUB) reported
that its Preference Share Class (A) have been delisted as per the
Bahrain Bourse CEO Resolution No (20) 2015 . (Bahrain Bourse)

5. Contacts
Saugata Sarkar Sahbi Kasraoui Shahan Keushgerian
Head of Research Manager – HNWI Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
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
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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
Oct-11 Oct-12 Oct-13 Oct-14 Oct-15
QSEIndex S&PPan Arab S&PGCC
2.1%
(0.2%)
0.5% 0.5%
(0.2%) (0.2%)
0.5%
(0.8%)
0.0%
0.8%
1.6%
2.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,077.88 (0.4) (0.6) (9.0) MSCI World Index 1,702.83 0.1 2.9 (0.4)
Silver/Ounce 14.18 (0.6) (0.5) (9.7) DJ Industrial 17,823.81 0.5 3.4 0.0
Crude Oil (Brent)/Barrel (FM Future) 44.66 1.1 2.4 (22.1) S&P 500 2,089.17 0.4 3.3 1.5
Crude Oil (WTI)/Barrel (FM Future) 40.39 (0.4) (0.9) (24.2) NASDAQ 100 5,104.92 0.6 3.6 7.8
Natural Gas (Henry Hub)/MMBtu 2.16 0.6 7.5 (27.9) STOXX 600 381.79 (0.5) 2.6 (1.9)
LPG Propane (Arab Gulf)/Ton 41.50 0.3 3.1 (15.3) DAX 11,119.83 (0.4) 3.1 (0.7)
LPG Butane (Arab Gulf)/Ton 59.25 0.0 (0.4) (9.5) FTSE 100 6,334.63 (0.6) 3.5 (5.9)
Euro 1.06 (0.8) (1.2) (12.0) CAC 40 4,910.97 (0.8) 1.4 1.2
Yen 122.81 (0.0) 0.2 2.5 Nikkei 19,879.81 0.1 1.5 10.8
GBP 1.52 (0.7) (0.3) (2.5) MSCI EM 843.48 0.8 2.7 (11.8)
CHF 0.98 (0.6) (1.2) (2.4) SHANGHAI SE Composite 3,630.50 0.3 1.2 9.1
AUD 0.72 0.6 1.6 (11.4) HANG SENG 22,754.72 1.1 1.6 (3.6)
USD Index 99.57 0.6 0.6 10.3 BSE SENSEX 25,868.49 0.0 1.0 (10.0)
RUB 64.74 0.3 (3.0) 6.6 Bovespa 48,138.89 0.0 6.2 (31.7)
BRL 0.27 0.4 3.8 (28.5) RTS 888.36 0.5 9.0 12.3
129.1
00
110.3
107.2