27 May Technical market report

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27 May Technical market report

  1. 1. Page 1 of 5QE Intra-Day MovementQatar CommentaryThe QE index declined 0.2% to close at 9,071.9. Losses were led by the RealEstate and Transportation indices, declining 2.1% and 1.2% respectively. Toplosers were United Development Co. and Islamic Holding Group, falling 4.1%and 3.3% respectively. Among the top gainers, Gulf International Services rose3.5%, while Al Meera Consumer Goods Co. gained 2.0%.GCC CommentarySaudi Arabia: The TASI index gained 0.1% to close at 7,326.9. Gains wereled by the Hotel & Tourism and Retail indices, rising 1.6% and 1.1%respectively. Saudi Indian Co. for Cooperative Insurance rose 5.5%, whileArabian Pipes Co. was up 5.3%.Dubai: The DFM index rose 1.1% to close at 2,305.6. The Investment &Financial Services index gained 2.2%, while the Real Estate & Constructionindex was up 1.3%. Gulf General Investment Co. rose 8.4%, while Ajman Bankwas up 4.0%.Abu Dhabi: The ADX benchmark index gained 1.2% to close at 3,469.1. TheReal Estate index rose 4.2%, while the Industrial index was up 3.6%. AbuDhabi Ship Building Co. surged 14.2%, while Arkan Building Materials Co.rose 11.1%.Kuwait: The KSE index rose 0.9% to close at 8,393.4. Gains were led by theTechnology and Parallel Market indices, gaining 3.5% and 2.3% respectively.Al Safat Real Estate Co. rose 8.8%, while Equipment Holding was up 8.6%.Oman: The MSM index gained 0.3% to close at 6,395.5. The Banking &Investment index rose 1.0%, while the Industrial index was up 0.4%. Al AnwarHolding gained 7.3%, while Ominvest was up 4.9%.Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%Gulf International Services 42.75 3.5 407.5 42.5Al Meera Consumer Goods Co. 137.00 2.0 163.9 11.9Zad Holding Co. 59.50 1.5 10.1 1.2Qatar Telecom 120.50 0.8 40.6 15.9National Leasing 36.40 0.7 392.6 (19.5)Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%United Development Co. 20.50 (4.1) 1,751.3 15.2Mazaya Qatar Real Estate Dev. 11.05 0.6 1,267.1 0.5Barwa Real Estate Co. 25.95 (1.0) 852.2 (5.5)Qatar Gas Transport Co. 17.56 (0.2) 676.9 15.1Qatari Investors Group 25.25 0.6 531.1 9.8Market Indicators 27 May 13 26 May 13 %Chg.Value Traded (QR mn) 284.8 329.8 (13.6)Exch. Market Cap. (QR mn) 503,226.6 503,220.7 0.0Volume (mn) 9.0 9.1 (1.1)Number of Transactions 4,298 4,843 (11.3)Companies Traded 38 38 0.0Market Breadth 13:19 22:11 –Market Indices Close 1D% WTD% YTD% TTM P/ETotal Return 12,961.67 (0.2) 0.3 14.6 N/AAll Share Index 2,308.63 (0.1) 0.3 14.6 12.5Banks 2,139.93 (0.0) 0.4 9.8 11.6Industrials 3,139.62 0.3 0.6 19.5 11.7Transportation 1,640.11 (1.2) (0.4) 22.4 11.6Real Estate 1,739.57 (2.1) (1.2) 7.9 11.5Insurance 2,303.65 (0.8) 1.6 17.3 13.5Telecoms 1,274.14 0.6 0.2 19.6 14.7Consumer 5,548.02 0.1 0.0 18.8 19.2Al Rayan Islamic Index 2,747.02 (0.4) 0.2 10.4 13.7GCC Top Gainers##Exchange Close#1D% Vol. ‘000 YTD%Aldar Properties Abu Dhabi 2.01 5.8 63,175.0 58.3Bank of Sharjah Abu Dhabi 1.78 4.7 244.9 39.1Fawaz Alhokair & Co. Saudi Arabia 154.25 4.4 114.9 48.3Ajman Bank Dubai 2.07 4.0 1,915.0 45.8Investbank Abu Dhabi 2.40 3.9 635.4 48.1GCC Top Losers##Exchange Close#1D% Vol. ‘000 YTD%United Dev. Co. Qatar 20.50 (4.1) 1,751.3 15.2Emirates NBD Dubai 5.42 (3.4) 411.6 90.2Qatar Navigation Qatar 72.90 (2.7) 161.9 15.5Qatar Ind. Manu. Co. Qatar 51.00 (2.3) 0.2 (4.0)Saudi Real Estate Co. Saudi Arabia 31.10 (2.2) 1,457.5 (4.6)Source: Bloomberg (#in Local Currency) (##GCC Top gainers/losers derived from the Bloomberg GCC200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%United Development Co. 20.50 (4.1) 1,751.3 15.2Islamic Holding Group 39.70 (3.3) 280.0 4.5Qatar Navigation 72.90 (2.7) 161.9 15.5Qatar Industrial Manufacturing Co. 51.00 (2.3) 0.2 (4.0)Qatar Insurance Co. 64.20 (1.2) 21.8 19.0Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%United Development Co. 20.50 (4.1) 36,369.4 15.2Industries Qatar 165.90 0.2 29,401.3 17.7Al Meera Consumer Goods Co. 137.00 2.0 22,444.5 11.9Barwa Real Estate Co. 25.95 (1.0) 22,260.5 (5.5)Gulf International Services 42.75 3.5 17,153.7 42.5Source: Bloomberg (* in QR)Regional Indices Close 1D% WTD% MTD% YTD%Exch. Val. Traded($ mn)Exchange Mkt.Cap. ($ mn)P/E** P/B**DividendYieldQatar* 9,071.90 (0.2) 0.3 4.5 8.5 78.22 138,236.3 11.5 1.6 5.1Dubai 2,305.56 1.1 (0.0) 8.0 42.1 174.06 63,925.3 14.8 0.9 3.7Abu Dhabi 3,469.13 1.2 0.3 6.0 31.9 94.03 102,173.7 10.6 1.3 5.1Saudi Arabia 7,326.93 0.1 (0.5) 2.0 7.7 1,253.42 393,641.7 15.6 1.9 3.8Kuwait 8,393.35 0.9 2.9 13.0 41.4 387.97 112,545.3 25.7 1.5 3.2Oman 6,395.53 0.3 0.5 4.4 11.0 26.50 22,518.4 11.1 1.7 4.4Bahrain 1,177.74 (0.2) 0.6 6.7 10.5 1.52 20,997.2 8.6 0.8 4.1Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)9,0509,0609,0709,0809,0909,1009:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
  2. 2. Page 2 of 5Qatar Market Commentary The QE index declined 0.2% to close at 9,071.9. The RealEstate and Transportation indices led the losses. The indexdeclined on the back of selling pressure from non-Qatarishareholders despite buying support from Qatari shareholders. United Development Co. and Islamic Holding Group were the toplosers, falling 4.1% and 3.3% respectively. Among the topgainers, Gulf International Services rose 3.5%, while Al MeeraConsumer Goods Co. gained 2.0%. Volume of shares traded on Monday declined by 1.1% to 9.0mnfrom 9.1mn on Sunday. However, as compared to the 30-daymoving average of 8.6mn, volume for the day was 4.6% higher.United Development Co. and Mazaya Qatar Real Estate Dev.were the most active stocks, contributing 19.5% and 14.1% tothe total volume respectively.Source: Qatar Exchange (* as a % of traded value)Ratings, Earnings and Global Economic DataRatings UpdatesCompany Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook ChangeRiyad Bank (RB) CISaudiArabiaBFSR/ LT FCR/ STFCR/ Support levelAA-/AA-/A1+/2AA-/AA-/A1+/2– Stable –National Bank ofKuwait (NBK)S&P Kuwait LT credit ratings A+ A+ – Stable –NationalBank of Bahrain(NBB)CI BahrainLT FCR/ ST FCR/BFSR/ Support levelBBB+/A2/A/1 BBB+/A2/A/1 –Negative/Stable*–Source: News reports (* LT – Long Term, ST – Short Term, BFSR- Bank Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating) (*Rating for BFSR)Earnings ReleasesCompany Market CurrencyRevenue(mn) 1Q2013% ChangeYoYOperating Profit(mn) 1Q2013% ChangeYoYNet Profit (mn)1Q2013% ChangeYoYTihama Advt. & PublicRelations Co. (TAPRCO)*Saudi Arabia SR – – (0.3) N/A 1.0 (94.1%)Oman Holdings InternationalCo. (OHIC)*Oman OMR 0.5 N/A – – 3.1 N/AUnited Paper Industries(UPI)*Bahrain BHD – – – – 1.0 112.8%Source: Company data, Tadawul , DFM, ADX (*Financial results for the year ended March 31, 2013 )Global Economic DataDate Market Source Indicator Period Actual Consensus Previous05/27 UK Hometrack Hometrack Housing Survey (MoM) May 0.40% – 0.30%05/27 UK Hometrack Hometrack Housing Survey (YoY) May 0.40% – 0.20%Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)NewsQatar Qatar offers Kazakhstan to create a joint investment fund –Qatar’s Minister of Economy & Finance Yousef Hussain Kamalhas made a proposal to Kazakhstan for establishing a jointinvestment fund with equal contributions from both amounting to$500mn. (Bloomberg) Egypt to request extension of payment from Qatar for itsgas – Egypt is planning to request for a payment term of fivemonths instead of one month as sought by the Qatarigovernment. The country plans to request paying averageQatari export price rather than international spot market price,as Egypt expects to import 300mn cubic feet per day from Qatarvia UK-based BG Group and Malaysia-based Petronas.(Bloomberg) QNB Group: Qatar’s condensate production scales up;proven gas reserves will last for 160 years – According to areport by the QNB Group, Qatar’s condensate production roseto 900,000 bpd in 2012 on the back of increased gas extractionacross various projects at the North Field. The report said thatthe country’s crude oil production was estimated at 740,000 bpdin 2012, while condensate output has overtaken oil productionand is expected to rise further. The report also said that Qatar’sproven crude oil reserves are estimated at 2.3bn barrels, whilecondensate reserves are estimated at 22.3bn in 2011. QNBGroup said the country’s oil production will get a boost fromQatar Petroleum International’s 2012 decision to convert allproduction-sharing agreements with foreign partners into JV.The research also expects that reserves will be increased by anadditional 1bn barrels and production by 40,000 bpd by 2016.Further, Qatar’s proven gas reserves are estimated at 885tncubic feet which will last for around 160 years at the 2011production rates. Furthermore, the report said Qatar’s currentaccount surplus has expanded, driven by strong export growthof 19% between 2008 and 2012. QNB Group said Qatar’simports grew by 17% in 2012 to $26bn. (Gulf-Times.com) QNB Group: Non-energy sector to drive Qatar’s real GDPgrowth to 6.5% in 2013 – According to a report by QNB Group,enhanced private sector activity stimulated by higherOverall Activity Buy %* Sell %* Net (QR)Qatari 69.62% 67.24% 6,772,845.91Non-Qatari 30.38% 32.76% (6,772,845.91)
  3. 3. Page 3 of 5government spending and steady growth in the non-oil & gassectors will drive Qatar’s real GDP growth to 6.5% in 2013 and6.8% in 2014. The report said as the country’s oil & gasproduction remains flat, major growth drivers will come from thelarge scale infrastructure development program initiated by thegovernment, which will stimulate economic activity inconstruction (13% growth), financial (8%) and services sectors(9%) in 2013-14. The report added that Qatar’s nominal GDPincreased by 12% in 2012, in which the gas sector accounted for42% of the total GDP aided by increase in both production andenergy prices. Moreover, the non-oil & gas sector alsowitnessed strong growth at 13% during 2008-2012, supportedby manufacturing, financial and other services. Further, QNBGroup has forecasted the nominal GDP to increase by 4% in2013 and decline by 1% in 2014, mainly due to lower oil priceassumptions. (Gulf-Times.com) QNB Group: 2013-14 budget may see a five-fold rise inprojected surplus to $10bn – According to a report by QNBGroup, Qatar’s 2013-14 budget may see a five-fold increase inthe projected surplus to $10bn. The group said the budgetedsurplus for 2013-14 stood at $2bn, which was based on aconservative oil price assumption of $65 a barrel. Thegovernment announced a record state budget for 2013-14, withoverall expenditures set to increase by 18% to $57bn andrevenues expected to increase by 6% to $60bn. The budgetsurplus is expected to expand even as overall spending isestimated to be 11% higher than budgeted, due to the ramp upin infrastructure development to meet the time framerequirements for the 2022 FIFA World Cup. (Gulf-Times.com) QNB Group: Qatar banking sector’s profitability metricsremain strong – QNB Group said the “profitability metrics” inQatari banking sector remain strong with Stable outlook andpromising prospects, as government spending and globalexpansion provide growth opportunities in 2013-14. Moreover,the group said the net profit of Qatari banks increased by 7.5%in 2012 to reach $4.4bn. The return on average equity stood at17.5%, while the return on average assets was at 2.7%. Factorslike higher lending, a low cost base and low provisioningrequirements have supported the banks’ overall profitability. Thetotal banking sector assets stood at $225bn by the end of 2012.(Gulf-Times.com) ERES unveils various projects; set to open QR1.5bncomplex – Ezdan Holding (ERES) has unveiled three of itsmajor projects namely: the Shamal Project, Rayan Towers andAl Wakra Mall, which will be opened in 2014. ERES CEO Ali al-Obaidali said it has invested QR2bn in the Shamal projectsituated near Ezdan Mall Gharaffa, which includes a boutiquehotel with 220 rooms, 180 luxury villas and 170 luxuryapartments. He added that the Ezdan Mall Al Wakra will beopened by February 2014, while Ezdan Mall Wukair will beoperational by 2015. He also revealed that Carrefour has signeda partnership agreement with ERES to set up its retailshowrooms in Ezdan Malls. Meanwhile, the company has alsoset to open a large housing complex, “Al Shamal Complex” thatwill also boast a five-star hotel. The project will cost QR1.5bnand it will be located along Al Shamal highway. The complex isexpected to open during the 4Q2013. However, the hotel will beinaugurated by 1Q2014. (Gulf-Times.com, Peninsula Qatar) BRES plans $5.5bn Island to house World Cup fans – BarwaReal Estate Company (BRES) is planning to build an island at acost of $5.5bn off the coast of Doha with floating hotels to housesoccer fans, who are expected to arrive in the country for theFifa World Cup in 2022. BRES’ plans for Oryx Island wouldfeature luxury villas, a water park, and five floating hotels usingcruise ships. BRES CEO Abdulla al-Subaie said the hotelswould be able to house as many as 25,000 visitors. Further, hesaid the company will develop 260 apartments in Lusail City withan investment of around QR1.4-1.6bn. (Reuters, Bloomberg) Barwa Bank acts as joint lead manager in ABT’s $200mnsukuk – Barwa Bank has acted as the joint lead manager onAlbaraka Turk Participation Bank’s (ABT) $200mn Tier 2 sukuk.This transaction represents the first sukuk Murabaha transactionissued from Turkey in the international capital market. (Gulf-Times.com) Ashghal floats tender for expansion of Al Khor Hospital –The Public Works Authority (Ashghal) has floated a tender forconsultancy works related to Al Khor Hospital’s expansion. Theexpansion plans include increasing the hospital’s area to 90,000square meters. (Gulf-Times.com) NLCS’s BoD confirms appointment Alijarah Holding CEO –The National Leasing Company’s (NLCS) board has confirmedthe appointment of Hamad Abdulla Shareef Al-Emadi as theCEO of Alijarah Holding. (QE)International S&P: France must deliver promised budget cuts to protectrating – Ratings agency S&P said France needs to deliver on itspromised budget cuts if it wants to avoid a further downgrade inits credit rating. S&P expects France will cut its budget deficit to3.3% of GDP in 2014 from 3.8% in 2013, slightly morepessimistic than the government, but more optimistic than theEuropean Commissions projections. (Reuters) EU to move spotlight from austerity to reforms – TheEuropean Commission will further shift the EUs policy focusfrom austerity to structural reforms in order to revive growth,when it presents economic recommendations for each memberstate on Wednesday. In its annual assessment as the guardianof the EUs budget rules, the commission will state that whilefiscal consolidation should continue, its pace can be slower nowsince investor confidence in the euro has been restored.(Reuters) China needs 7% growth to hit per capita GDP target –China’s Premier Li Keqiang said the country needs an averageannual economic growth of 7% to reach its goal of doubling percapita gross national product by 2020. Li also described the7.7% economic growth notched up in 1Q2013 as appropriate.(Reuters)Regional Saudi Aramco’s output rises to 9.51mn barrels a day in2012 – Saudi Aramco’s production rose to 9.51mn barrels a dayof oil in 2012. Reserves stood at 260.2bn barrels. Daily outputfor Saudi Aramco rose 4.8% from 2011, while the annual totalwas 3.48bn barrels. Reserves of crude oil and condensates rosefrom 259.7bn barrels the previous year, and deposits of naturalgas increased 0.8% to 284.8tn standard cubic feet. (Bloomberg) Adrees signs MoU with Swiss-based Bertschi – AdreesPetroleum & Transport Services Company (Adrees) has signeda MoU with Switzerland-based Bertschi to establish a JVengaged in providing chemical logistics, transport management,warehousing management, cleaning facility of chemical tanksand related services. The new company will have independentactivities and operations and be managed by a joint teamderived from the two companies. (Tadawul) Alinma Tokio Marine get final approval from SAMA – AlinmaTokio Marine has obtained final approval from the Saudi ArabianMonetary Agency (SAMA) to sell its comprehensive motor
  4. 4. Page 4 of 5insurance product and motor third party liability product.(Tadawul) UAE Energy Minister: Crude oil prices suitable and fair –The UAE Energy Minister Suhail Mohammed Al Mazrouei saidthe current crude oil prices are suitable and fair, and are nothurting consumers. He said the global oil demand is expected tostay relatively weak in 2013 at around 800,000 bpd more than in2012. (Bloomberg) India, UAE seek to boost investment, speed up BIPAagreement – The governments of India and the UAE havestressed on the need to raise investment profiles in each others’countries. Both countries have also agreed to expedite the long-awaited Bilateral Investment Promotion & Protection Agreement(BIPA). (GulfBase.com) NASDAQ Dubai plans platform for trading sukuk and bondson-exchange – NASDAQ Dubai is preparing to open a newexchange platform on which investors can trade sukuk andconventional bonds. Trades will be automatically and exclusivelyrouted for settlement at Euroclear Bank. Tradable securities willinitially comprise at least 12 sukuk and bonds that are listed onthe exchange, with a nominal value of $10.9bn. The platform willbe available to institutional and high-net worth investors, and willbe gradually developed over the coming weeks. (GulfBase.com) Dubai airport posts double-digit growth for 9 months –According to a report issued by Dubai Airports, the DubaiInternational Airport (DIA) has registered nine straight months ofdouble-digit growth. The report showed that the airport recorded5.4mn passengers in April 2013, up 18.7% compared to 4.6mnin April 2012. The report said that April was the fifth consecutivemonth with more than 5mn passengers passing through DIA. Bythe end of April 2013, passenger traffic also increased by 16.3%YTD to 21.9mn. (GulfBase.com) MoPW implements projects worth AED877mn within federalinvestment program – The UAE’s Minister of Public Works(MoPW) Abdullah Al Nuaimi said the total cost of projectssupervised by the ministry under the AED9.6bn federalinvestment program for the 2013 public budget stands atAED877mn. (Bloomberg) WRDC offers free land incentive for UAE developers inWestern Region – The Western Region Development Council(WRDC) has offered nearly 4mn square feet of land in theUAE’s Western region for free in an attempt to bring the much-needed investment to the underdeveloped region. (Bloomberg) UAE banks to arrange Azerbaijan’s IBA’s $100mn murabahafacility – The International Bank of Azerbaijan (IBA) is arrangingfor a $100mn syndicated Murabaha financing facility with a tenorof 18 months. UAE-based banks including Emirates NBDCapital Limited, Barwa Bank, JP Morgan and Noor Islamic Bankare mandated by IBA as the initial mandated lead arrangers andbook-runners. (Bloomberg) Emirates Transport revenue rises 11% in 1Q2013 – EmiratesGeneral Transport & Services Corporation (Emirates Transport)has reported 11% YoY increase in its revenue in 1Q2013.(GulfBase.com) Drydocks handles AED500mn US tasks – Drydocks Worldhas handled more than AED500mn worth of US projects.(GulfBase.com) Daewoo Shipbuilding wins $800mn deal from UAE – SouthKorea-based Daewoo Shipbuilding & Marine EngineeringCompany (DSME) has obtained a contract valued $800mn fromthe UAE to build modules for offshore plants. Under the deal,DSME will design, purchase or build modules for 22 productionfacilities by 2017, which will account for about 40% of the totalmodules needed for the entire project. The remaining 60%modules worth about $1bn will be supplied by Daewoosconsortium partner, Petrofac Emirates. Reportedly, the deal ispart of a $3.7bn project to create four artificial islands in thewaters off the UAEs northwestern region and build oil producingfacilities on the islands. (Peninsula Qatar) Jumeirah Group seeks to raise $1.4bn loan – JumeirahGroup is planning to raise a $1.4bn syndicated loan, from whichpart of proceeds will be utilized for its new hotels and the restwill be given to its parent company, Dubai Holding to pay off itsbonds. Jumeirah Group has hired Standard Chartered, HSBC,Abu Dhabi Commercial Bank to arrange for the loan.(Bloomberg) ADTCA: 20% rise in guests for Abu Dhabi hotels – Accordingto the figures released by the Abu Dhabi Tourism & CultureAuthority (ADTCA), over 236,704 guests checked in at varioushotels in Abu Dhabi. This indicates a 20% YoY rise in April2013, with guest nights jumping by almost a third to 738,797.(GulfBase.com) Jet Airways to buy more Boeing planes amid AirAsia’sentry in India – India-based Jet Airways, which has agreed tosell a stake to UAE-based Etihad Airways, is planning to ordermore Boeing Company’s 737 planes to expand its fleet. Thismove comes as the carrier prepares to fend off competition fromAirAsia Airline that seeks to start operations in India in 2013.(Bloomberg) Kuwait to invest $100bn in energy sector over 5 years –Kuwait is planning to invest $100bn in energy projects over thenext five years, much of it will be spent on upstream projectsboth at home and abroad. The country revealed its plans to builda permanent floating LNG storage and re-gasification terminal tocope with the rising domestic demand for gas. (Bloomberg) Kuwait, Oman sign $2.5bn accord on economicdevelopment – Kuwait and Oman have signed an agreementfor the implementation of a grant worth $2.5bn provided by theGovernment of Kuwait to the Government of Oman. Theagreement aims to finance joint projects both at the bilaterallevel in Oman and at the GCC region level such as electricalinter-connection projects, water supply, Gulf railway project andinfrastructure projects for industrial zones. (Bloomberg) Kuwait Petroleum sells naphtha cargo for June to Itochu –Kuwait Petroleum Corporation (KPC) has sold about 25,000metric tons of light naphtha to Itochu Corporation to be loadedby the end of June 2013. KPC has sold the cargo at a premiumof $31-34 per ton over Middle East prices. (Bloomberg) OHIC’s board proposes OMR1.7mn cash dividend – TheOman Holdings International Company’s (OHIC) board hasrecommended to pay a cash dividend of OMR1.7mn (15% of thepaid-up capital) to its shareholders, at the rate of 15 baisas pershare for the year ended March 31, 2013. (MSM) National Motor to expand its Honda operations – BahrainCommercial Facilities subsidiary, the National Motor Companyis set to expand its Honda operations overseas by opening anew dealership in Erbil, Kurdistan. (Bahrain Bourse) Al Taweel completes 40% of road revamp work in Isa Town– The Bahrain Ministry of Works said about 40% of the work onthe BHD554,717 Isa Town revamp project has been completedby the contractor, Al Taweel Company. (GulfBase.com)
  5. 5. ContactsAhmed M. Shehada Keith Whitney Saugata Sarkar Sahbi KasraouiHead of Trading Head of Sales Head of Research Manager - HNWITel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qaQNB Financial Services SPCContact Center: (+974) 4476 6666PO Box 24025Doha, QatarDISCLAIMER: 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 QatarFinancial 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 anoffer, 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 potentialinvestors 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 bereliable, 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 theright 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, theviews 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 5Rebased Performance Daily Index PerformanceSource: Bloomberg Source: BloombergSource: Bloomberg Source: Bloomberg80.090.0100.0110.0120.0130.0140.0Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13QE Index S&P Pan Arab S&P GCC0.1%(0.2%)0.9%(0.2%)0.3%1.2%1.1%(0.4%)0.0%0.4%0.8%1.2%1.6%SaudiArabiaQatarKuwaitBahrainOmanAbuDhabiDubaiAsset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%Gold 1,394.78 0.6 0.6 (16.7) DJ Industrial 15,303.10 0.0 0.0 16.8Silver 22.68 1.3 1.3 (25.3) S&P 500 1,649.60 0.0 0.0 15.7Crude Oil (Brent) 102.01 (0.2) (0.2) (9.6) NASDAQ 100 3,459.14 0.0 0.0 14.6Euro 1.29 (0.0) (0.0) (2.0) DAX 8,383.30 0.9 0.9 10.1Yen 100.96 (0.3) (0.3) 16.4 FTSE 100 6,654.34 0.0 0.0 12.8GBP 1.51 (0.2) (0.2) (7.1) CAC 40 3,995.16 1.0 1.0 9.7CHF 1.04 (0.2) (0.2) (5.0) Nikkei 14,142.65 (3.2) (3.2) 36.1AUD 0.96 (0.2) (0.2) (7.3) Shanghai 2,293.08 0.2 0.2 1.1USD Index 83.70 0.0 0.0 4.9 BSE Sensex 20,030.77 1.7 1.7 3.1RUB 31.35 (0.1) (0.1) 2.7 Bovespa 56,395.94 (0.0) (0.0) (7.5)BRL 0.49 (0.2) (0.2) (0.3) RTS 1,385.08 (0.2) (0.2) (9.3)130.4117.2107.7

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