4 June Technical Market Report

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4 June Technical Market Report

  1. 1. Page 1 of 5QE Intra-Day MovementQatar CommentaryThe QE index rose 0.3% to close at 9,310.5. Gains were led by the Insuranceand Real Estate indices, gaining 1.6% and 1.2% respectively. Top gainers wereAl Khaleej Takaful Group and Medicare Group, rising 9.3% and 4.7%respectively. Among the top losers, Vodafone Qatar fell 1.7%, while GulfInternational Services declined 1.6%.GCC CommentarySaudi Arabia: The TASI index gained 0.3% to close at 7,576.6. Gains wereled by the Banks & Financial Services and Industrial Investment indices, rising1.4% and 0.6% respectively. Makkah Construction & Development Co. rose4.0%, while Saudi Chemical Co. was up 3.7%.Dubai: The DFM index fell 0.2% to close at 2,416.4. The Services indexdeclined 1.6%, while the Transportation index was down 1.2%. Mashreq Bankand Agility Public Warehousing Co. fell 10.0% each.Abu Dhabi: The ADX benchmark index declined 0.5% to close at 3,572.3. TheTelecommunication index fell 1.7%, while the Energy index was down 1.3%.RAK White Cement declined 9.4%, while United Arab Bank was down 6.8%.Kuwait: The KSE index fell 1.4% to close at 8,086.8. Losses were led by theFinancial Services and Health Care indices, declined 3.0% and 2.0%respectively. Kuwait Syrian Holding Co. and Future Kid Entertainment & RealEstate fell 8.8% each.Oman: The MSM index gained 0.5% to close at 6,453.0. The Banking &Investment index rose 1.0%, while the Services & Insurance index was up0.6%. Al Batinah Dev. Inv. Holding gained 8.7%, while Global FinancialInvestment was up 8.3%.Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%Al Khaleej Takaful Group 43.90 9.3 121.3 19.7Medicare Group 43.15 4.7 855.2 20.9Qatar Islamic Insurance 60.40 3.8 128.6 (2.6)Zad Holding Co. 61.50 3.0 16.4 4.6Doha Insurance Co. 26.70 2.7 22.3 8.8Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%Vodafone Qatar 9.31 (1.7) 2,519.3 11.5United Development Co. 22.68 1.9 2,018.2 27.4Barwa Real Estate Co. 26.75 0.9 1,351.8 (2.6)Mazaya Qatar Real Estate Dev. 11.20 (0.9) 1,223.7 1.8Medicare Group 43.15 4.7 855.2 20.9Market Indicators 04 June 13 03 June 13 %Chg.Value Traded (QR mn) 402.2 475.5 (15.4)Exch. Market Cap. (QR mn) 512,898.4 511,398.8 0.3Volume (mn) 13.1 15.9 (17.9)Number of Transactions 5,538 5,971 (7.3)Companies Traded 39 39 0.0Market Breadth 24:14 26:9 –Market Indices Close 1D% WTD% YTD% TTM P/ETotal Return 13,302.63 0.3 0.8 17.6 N/AAll Share Index 2,360.18 0.3 0.7 17.2 12.8Banks 2,187.61 0.6 (0.0) 12.2 11.8Industrials 3,171.41 (0.4) (0.1) 20.7 11.8Transportation 1,720.70 (0.5) 3.5 28.4 12.2Real Estate 1,841.46 1.2 2.7 14.3 11.8Insurance 2,323.77 1.6 1.3 18.3 15.3Telecoms 1,315.68 0.7 2.2 23.5 15.0Consumer 5,627.12 0.4 1.3 20.5 23.0Al Rayan Islamic Index 2,820.22 0.4 1.1 13.3 14.0GCC Top Gainers##Exchange Close#1D% Vol. ‘000 YTD%Nat. Bank of Fujairah Abu Dhabi 3.70 14.9 0.5 (18.7)Dubai Financial Market Dubai 1.96 5.9 102,040.5 92.2Comm. Bank of Dubai Dubai 4.10 5.1 1,000.0 36.7Makkah Con. & Dev. Saudi Arabia 58.50 4.0 904.2 44.1Saudi Chemical Co. Saudi Arabia 48.10 3.7 2,053.2 7.6GCC Top Losers##Exchange Close#1D% Vol. ‘000 YTD%Al Ahli Bank of Kuwait Kuwait 0.49 (5.8) 698.7 (6.4)United Arab Bank Abu Dhabi 4.15 (5.7) 89.9 34.7Atheeb Communication Saudi Arabia 15.20 (5.6) 15,284.2 18.8Nat. Industries Group Kuwait 0.26 (5.5) 10,692.5 21.5Kuwait Cement Co. Kuwait 0.36 (5.3) 173.9 (18.9)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%Vodafone Qatar 9.31 (1.7) 2,519.3 11.5Gulf International Services 45.95 (1.6) 258.5 53.2Qatar Navigation 75.30 (1.6) 74.1 19.3Islamic Holding Group 39.55 (1.1) 115.0 4.1Qatar Industrial Manufacturing Co. 52.00 (1.0) 3.0 (2.1)Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%Industries Qatar 165.00 (0.8) 48,223.9 17.0United Development Co. 22.68 1.9 45,422.2 27.4Medicare Group 43.15 4.7 36,419.0 20.9Barwa Real Estate Co. 26.75 0.9 35,993.8 (2.6)National Leasing 37.15 0.4 23,812.0 (17.8)Source: Bloomberg (* in QR)Regional Indices Close 1D% WTD% MTD% YTD%Exch. Val. Traded($ mn)Exchange Mkt.Cap. ($ mn)P/E** P/B**DividendYieldQatar* 9,310.54 0.3 0.8 0.8 11.4 110.45 140,841.9 11.8 1.7 5.0Dubai 2,416.41 (0.2) 2.1 2.1 48.9 298.10 62,131.6 15.5 1.0 3.5Abu Dhabi 3,572.27 (0.5) 0.3 0.3 35.8 93.72 104,725.1 10.9 1.3 4.9Saudi Arabia 7,576.63 0.3 2.3 2.3 11.4 2,275.26 406,313.2 16.1 2.0 3.7Kuwait 8,086.81 (1.4) (2.6) (2.6) 36.3 433.13 110,984.9 24.7 1.4 3.3Oman 6,453.02 0.5 0.5 0.5 12.0 42.95 22,732.0 11.2 1.7 4.3Bahrain 1,200.69 0.1 0.4 0.4 12.7 1.25 21,327.7 8.7 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)9,2609,2709,2809,2909,3009,3109,3209:30 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 rose 0.3% to close at 9,310.5. The Insurance andReal Estate indices led the gains. The index rose on the back ofbuying support from Qatari shareholders despite selling pressurefrom non-Qatari shareholders. Al Khaleej Takaful Group and Medicare Group were the topgainers, rising 9.3% and 4.7% respectively. Among the toplosers, Vodafone Qatar fell 1.7%, while Gulf InternationalServices declined 1.6%. Volume of shares traded on Tuesday declined by 17.9% to13.1mn from 15.9mn on Monday. However, as compared to the30-day moving average of 10.1mn, volume for the day was29.3% higher. Vodafone Qatar and United Development Co.were the most active stocks, contributing 19.3% and 15.4% tothe total volume respectively.Source: Qatar Exchange (* as a % of traded value)Ratings and Global Economic DataRatings UpdatesCompany Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook ChangeNational Bank ofKuwait (NBK)Fitch KuwaitLT IDR/STIDR/VR/SR/SRfloor/CPAA-/F1+/a/1/AA-/F1+AA-/F1+/a/1/AA-/F1+– Stable –NBKI (NBK’s UKsubsidiary)Fitch Kuwait LT IDR/ST IDR/SR AA-/F1+/1 AA-/F1+/1 – Stable –Gulf Bank (GB) Fitch KuwaitLT IDR/STIDR/VR/SR/SR floorA+/F1/b+/1/A+ A+/F1/bb-/1/A+ * Stable –Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating, IDR - Issuer Default Rating,SR – Support Rating, VR - Viability Rating, CP - Commercial paper) (*Rating upgrade for VR)Global Economic DataDate Market Source Indicator Period Actual Consensus Previous06/04 US Bloomberg IBD/TIPP Economic Optimism June 49.0 50.0 45.106/04 US US Census Bureau Trade Balance April -$40.3bn -$41.1bn -$37.1bn06/04 EU Eurostat Euro-Zone PPI (MoM) April -0.60% -0.20% -0.20%06/04 EU Eurostat Euro-Zone PPI (YoY) April -0.20% 0.20% 0.60%06/04 UK BRC BRC Sales Like-For-Like YoY May 1.80% 1.30% -2.20%06/04 UK Markit PMI Construction May 50.8 49.8 49.406/04 Spain Spanish Labour Ministry Unemployment MoM Net (000s) May -98.3 -50.0 -46.1Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)NewsQatar QCB: Qatar’s T-bill yields lowest since October 2012 –According to the data published by the Qatar Central Bank(QCB), yields in Qatars Treasury bill auction fell to their lowestlevel since October 2012. The data showed that yield on 91-dayT-bills eased to 0.82% from 0.87% in May, while yield for 182-day T-bills went down to 0.98% from 1.05% and for 273-daynotes, it was 1.04% from 1.09%. QCB issued T-bills worthQR4bn from the market and total bids rose to QR11.1bn for allthree maturities combined vs. QR10.5bn in May 2013. (Reuters)(QSA) Milaha’s share repurchase program approved by QFMA –Milaha (Qatar Navigation) has received approval from the QatarFinancial Market Authority (QFMA) for its proposed sharerepurchase program of up to 5% of its outstanding shares. (Gulf-Times.com) Doha Metro to have 48 stations – Qatar Rail CommercialManager Stephen Lines said the 131 kilometer Doha MetroRailway will have at least 48 stations and half of the facilitywould be built underground at depths up to 50 meters. He addedthat the elevated portion of the Metro railway is 48 kilometerlong and its construction is expected to be completed in 2019.(Gulf-Times.com) Qapco initiates QR600mn green initiative – The QatarPetrochemical Company (Qapco) is set to complete two majorprojects in as many years as part of its QR600mn initiative tominimize emissions and safeguard the environment. With theseprojects, which are to be executed during a general shutdownplanned in 2014 and in 2015, Qapco aims at a significantreduction in nitrogen oxide and carbon dioxide emissions.Qapco said that its new petrochemical complex at Ras Laffan ison track for completion in 2018. (Gulf-Times.com) BCG report: Qatar has highest density of millionaires inworld – According to the Boston Consulting Group’s (BCG)annual global wealth management report, Qatar has the world’shighest density of millionaires with 143 out of every 1,000households holding private wealth of at least $1mn. Qatar alsoranks fourth in the world by ultra-high-net-worth (UHNW)households, defined as households with more than $100mn inprivate wealth, with eight out of 100,000 households fallingunder this category. The report asserts that private wealth inMEA (Middle East and Africa) will grow to an estimated $6.5tnOverall Activity Buy %* Sell %* Net (QR)Qatari 66.78% 64.81% 7,950,363.53Non-Qatari 33.21% 35.20% (7,950,363.53)
  3. 3. Page 3 of 5by the end of 2017, with a projected compound annual growthrate (CAGR) of 6.2%. (Gulf-Times.com) Egypt FM plans $3bn bond sale to Qatar – The EgyptianFinance Minister Fayad Abdel Moneim said the country isplanning to sell bonds worth $3bn to Qatar, which will be issuedin July 2013 with a maturity of up to three years and carrying aninterest rate of 3.5%. (Bloomberg) QPI seeks gasoline for delivery in June to Mesaieed – QatarPetroleum International (QPI) has issued a tender to buygasoline for June delivery to Mesaieed in Qatar. QPI is seeking30,000 metric tons of 95-RON and 25,000 tons of 90-RONgrades. This offer is scheduled to close on June 5 and is validuntil June 6. (Bloomberg)International Dallas Fed calls for QE taper seeing end to 30-year bondrally – The Federal Reserve Bank of Dallas President RichardFisher said he foresees the end of a 30-year bond-market rally,while calling for a reduction in the US Fed’s $85bn monthly bondpurchases. (Bloomberg) Australia economy grows less than forecast in 1Q2013,Reserve Bank cuts borrowing costs – The Australianeconomy expanded less than last quarter’s forecast asinvestment in machinery and equipment declined, sending thecountry’s currency downward as traders increased bets onfurther interest rate cuts. According to a report by the AustralianBureau of Statistics, GDP advanced 0.6% in 1Q2013 over theprevious three months, when it had expanded at the same pace.The Reserve Bank of Australia has slashed borrowing costs by2 percentage points over the past 20 months to 2.75%, joiningits global counterparts in embracing record-low interest rates.(Bloomberg) Japans PM to target income gains in growth strategy –Japan’s Prime Minister Shinzo Abe has pledge to boost incomesby 3% per annum, allow tax cuts and reduce red tape in specialeconomic zones when he unveils the governments latestpolices aimed at revitalizing Japan’s economy. The Bank ofJapans monetary expansion campaign announced in Apriltargets achieving 2% inflation in less than 2 years (Reuters)Regional Lufthansa seeks ties with Gulf airlines – Germany-basedLufthansa Airlines’ CEO Christoph Franz said the company hasopened its doors to Gulf-based carriers and seeks commercialties with one of the regions heavyweight airlines in the future.(GulfBase.com) BMI: Saudi short-term power outlook bright – According to areport by Business Monitor International, the short-term picturefor the Saudi Arabian power sector is bright since the Kingdomis all set to remain on a solid growth path throughout 2013. Thepositive outlook is due to the non-oil sector continuing to expandon the back of booming household expenditure and anotherstrongly expansionary budget by the government. BMI’s reportfurther stated that a bright outlook for fixed investment and asupportive macroeconomic policy underpin the positiveexpectations for the medium-term. However, the Saudi economyis forecasted to achieve a real GDP growth of 4.1% in 2013,down from an estimated 6.8% in 2012. (GulfBase.com) 32 new water and sewer projects approved in Kingdom –Saudi Arabia’s Water & Electricity Minister Abdullah Al-Hussayen said the government has approved 32 new contractsvalued at SR325mn for water and sanitation projects in areasincluding Najran, Onaizah, Al-Hafouf and Tabouk. (Bloomberg) Kingdom buys 525,000 tons of wheat – The Grain Silos &Flour Mills Organization said Saudi Arabia bought 410,000 tonsof hard wheat (12.5% protein minimum) and 115,000 tons of softwheat (11% protein minimum) for shipment between Septemberand October from Toepfer International. (GulfBase.com) SAEV announces equity investment in Zi-Lift – SaudiArabian Oil Company’s subsidiary Saudi Aramco EnergyVentures (SAEV) has closed an equity investment in Zi-Lift, aScottish developer of through-tubing deployed artificial liftsystems using permanent magnet motors and magnetictransmissions. (AME Info) Sipchem starts feasibility study to merge with SaharaPetrochemicals – The Saudi International PetrochemicalCompany (Sipchem) has initiated a feasibility study to mergewith Sahara Petrochemicals Company, which will be carried outin the next five months. (Tadawul) Alinma Tokio Marine gets temporary extension of itsproducts from SAMA – Alinma Tokio Marine Company hasreceived extension of the temporary approval from the SaudiArabian Monetary Agency (SAMA) to sell three of its productsfor a period of six months from the date of June 3, 2013.(Tadawul) IHG opens new Holiday Inn Riyadh Meydan –InterContinental Hotels Group (IHG) has opened its new HolidayInn Riyadh Meydan in downtown Riyadh. (AME Info) GCAA introduces three new air routes to reduce congestion– The UAE’s General Civil Aviation Authority (GCAA) hasintroduced three new air routes to replace the current singleentry route. This is in addition to introduction various otherchanges in the procedures for handling traffic flow that willcontribute in decreasing airspace congestion in the UAE. (AMEInfo) World’s tallest twisted tower set to open in Dubai – CayanInvestment and Development will inaugurate its award-winningAED1bn Infinity Tower in Dubai on Monday, June 10, 2013. Thelaunch of the tower comes after the company received the DubaiMunicipality’s certificate of completion. The project ischaracterized by its magnificent architecture, giving residentsstunning panoramic views of The Palm Dubai or Marina.(Gulfbase.com) Average construction cost surges 20% in Abu Dhabi –According to an industry executive, the average constructioncost in Abu Dhabi has risen 20% year-on-year in the first quarterof the year, as cost of construction materials and overheadexpenses have soared to new proportions. According to theStatistics Centre-Abu Dhabi (SCAD), the estimated averageconstruction cost in Abu Dhabi ranged between AED3,518 toAED4,104 per square meter, depending on the gross floor area,the interior finishes and the intended type of use. Buildings witha gross floor area of 300 to 599 square meters had the highestconstruction cost of AED4,104 per square meter, while buildingswith a gross floor area exceeding 1200 square meters recordedthe lowest construction cost of AED3,518 per square meter.(Gulfbase.com) Emirates to fly A380s across Asia-US routes – The Emiratessaid it is planning to become the first completely global carrierby flying passengers from Asia to the US over the PacificOcean, using A380 wide-body jets. Emirates President TimClark said its fleet of Airbus A380 Superjumbos and Boeing’s777-200LR, which is set to grow to 90 planes, could comfortablyfly from northern Asia to cities in the north and central US.(Bloomberg)
  4. 4. Page 4 of 5 du Telecom buys 10% stake in Mubadala’s data center –The Emirates Integrated Telecommunications Company (duTelecom) has bought a 10% stake in a Mubadala-owned datacenter company, Khazna Data Center for a maximum financialcommitment of AED57.5mn. This deal depends on fundingrequirements set out in a plan related to the construction of datacenters. (Gulf-Times.com) Noor Islamic Bank seeks business in Southeast Asia – NoorIslamic Bank CEO Hussain Al Qemzi said the bank seeks tocreate linkages with Southeast Asia, one of the highest growthpotential markets in the world. (Bloomberg) SCAD: 2,461 residential units completed in 1Q2013 –According to the report, a total of 2,461 residential units werecompleted in Abu Dhabi region during the first quarter of 2013,down 6.2% compared with Q1 2012. The corresponding figurefor Al Ain region was 702 units, marking an increase of 513 unitscompared with the first quarter of 2012. On the other hand only13 residential units were completed in Al Gharbia region duringQ1 2013, down from 83 units in Q1 2012. (AME Info) Petrofac gets $500mn EPC contract in Abu Dhabi – PetrofacEmirates, a JV between Petrofac Ltd and Mubadala Petroleum,has been awarded a $500mn onshore EPC contract by the AbuDhabi Company for Onshore Oil Operations for expansion ofcompression facilities at the Bab Field. The project will becompleted in a phased manner in 30 months from the date ofcommissioning. (Bloomberg) Zain launches share sale of its Iraqi telecom operations –Kuwait-based telecom operator Zain has announced the settingup of a holding company named “Khatam Communications”,through which it will offer a quarter of its stake in its Iraqitelecom unit. As part of its $1.3bn license, Zain Iraq must float aquarter of its shares and list it on the Iraq Stock Exchange. Zainsaid it will offer 55.9mn shares at one dinar each in the listedfirm. The offer period is scheduled to commence from June 4,2013 for 30 days. (Reuters) Al Zamil commences construction at Durrat Al Areenproject – Kuwait-based Al Zamil International Real EstateCompany has commenced the construction work on theBHD13mn new housing project, “Durrat Al Areen”. This housingproject, which is part of its flagship project, Al AreenDevelopment, is scheduled to be completed by mid-2015. (AMEInfo) Oman to award six oil blocks for development – The Omanigovernment is in negotiations with various international oilcompanies to award six onshore oil & gas blocks fordevelopment on a production-sharing basis, while evaluation isunderway for another seven blocks. (GulfBase.com) Sundus Investments announces $40mn hotel projects inMuscat – Sundus Investments Projects has signed anagreement with Rotana Hotel Management Company tomanage its new hotel projects worth $40mn in Muscat. Theprojects namely, Sundus Arjaan by Rotana and its four-starSundus Rotana Muscat corporate & conference hotel at AirportHeights in Bausher are scheduled to be completed in two years’time and ground breaking is commencing in July 2013.(GulfBase.com) GFIC’s board agrees to reduce paid-up capital – The GlobalFinancial Investment Co’s (GFIC) board has agreed to reducethe companys paid-up capital from OMR29.3mn to OMR20mn,through pay back share’s par value for 93.4mn shares. Thisrepresents 31.8% of the listed shares, where 3,184 shares willbe canceled for each 10,000 shares at the payable value ofOMR318.4. (MSM) CBB’s issue of weekly T-bills oversubscribed by 136% –The Central Bank of Bahrain’s (CBB) this week’s issue ofBHD35mn government treasury bills has been oversubscribedby 136%. These bills carry a maturity of 91 days and theirweighted average rate of interest is 0.70%, compared with0.69% for the previous issue. (AME Info) Bab Al Bahrain’s revamp project gets underway – TheBahrain Ministry of Works has started work on the BHD178,558Bab Al Bahrain Avenue reconstruction project, which involvesthe revamp of a 796 meter long avenue extending from SheikhAbdulla Avenue to Isa Al Kabeer Avenue. The ministry hasawarded this contract to Mohsin Haji Ali Group and expects tofinish the project in the next 20 weeks. (GulfBase.com) Eskan hires group headed by KPMG for key residentialproject – Bahrain-based Eskan Bank has appointed aconsortium headed by KPMG to structure a funding program forthe development of social housing projects on its own land bankin various areas of the country. The consortium, which includesBarwa Bank of Qatar and Trowers & Hamlins, will study thebanks financing requirements and propose a suitable fundingprogram that may include debt, equity, or a mixture of both. Theproject is aimed at providing 2,500 social housing units at a costof around BHD200mn. (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 GCC0.3% 0.3%(1.4%)0.1%0.5%(0.5%)(0.2%)(1.8%)(1.2%)(0.6%)0.0%0.6%SaudiArabiaQatarKuwaitBahrainOmanAbuDhabiDubaiAsset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%Gold 1,399.43 (0.8) 0.8 (16.5) DJ Industrial 15,177.54 (0.5) 0.4 15.8Silver 22.55 (0.8) 1.3 (25.7) S&P 500 1,631.38 (0.6) 0.0 14.4Crude Oil (Brent) 103.25 1.5 3.2 (8.5) NASDAQ 100 3,445.26 (0.6) (0.3) 14.1Euro 1.31 0.0 0.6 (0.8) DAX 8,295.96 0.1 (0.6) 9.0Yen 100.03 0.5 (0.4) 15.3 FTSE 100 6,558.58 0.5 (0.4) 11.2GBP 1.53 (0.1) 0.8 (5.8) CAC 40 3,925.83 0.1 (0.6) 7.8CHF 1.06 0.0 0.9 (3.3) Nikkei 13,533.76 2.1 (1.7) 30.2AUD 0.97 (1.2) 0.8 (7.2) Shanghai 2,272.42 (1.2) (1.2) 0.1USD Index 82.77 0.1 (0.7) 3.8 BSE Sensex 19,545.78 (0.3) (1.1) 0.6RUB 31.95 0.5 0.2 4.7 Bovespa 54,017.90 0.1 1.0 (11.4)BRL 0.47 (0.3) 0.4 (3.8) RTS 1,322.39 0.3 (0.7) (13.4)133.8120.4109.9

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