8 January Daily Market report


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8 January Daily Market report

  1. 1. QE Intra-Day Movement Market Indicators 10,860 10,840 10,820 Market Indices 10,800 10,780 9:30 08 Jan 14 400.7 572,011.1 8.2 4,524 39 25:8 Value Traded (QR mn) Exch. Market Cap. (QR mn) Volume (mn) Number of Transactions Companies Traded Market Breadth 10:00 10:30 11:00 11:30 12:00 12:30 13:00 Qatar Commentary The QE index rose 0.3% to close at 10,834.8. Gains were led by the Transportation and Banking & Financial Services indices, gaining 1.3% and 0.7% respectively. Top gainers were Al Ahli Bank and Dlala Brok. & Inv. Holding Co., rising 5.9% and 4.9% respectively. Among the top losers, Qatar General Ins. & Rein. Co. fell 7.4%, while Doha Insurance Co. declined 4.4%. 07 Jan 14 701.7 570,154.8 15.1 7,850 40 22:18 %Chg. (42.9) 0.3 (45.6) (42.4) (2.5) – Close Total Return All Share Index Banks Industrials Transportation Real Estate Insurance Telecoms Consumer Al Rayan Islamic Index 1D% WTD% YTD% TTM P/E 15,480.50 2,681.46 2,550.59 3,602.61 1,944.04 2,012.06 2,423.41 1,495.34 6,068.70 3,166.41 0.3 0.4 0.7 0.1 1.3 0.1 (1.5) 0.1 0.4 0.3 2.7 2.2 3.2 1.0 3.2 0.5 3.0 3.1 0.7 2.0 4.4 3.6 4.4 2.9 4.6 3.0 3.7 2.9 2.0 4.3 N/A 13.6 13.4 13.1 13.2 13.8 9.9 20.3 23.0 16.4 GCC Commentary GCC Top Gainers## Exchange Close# 1D% Saudi Arabia: The TASI index gained 0.5% to close at 8,652.5. Gains were led by the Transport and Hotel & Tourism indices, rising 1.7% and 1.6% respectively. Rabigh Ref. & Petroch. gained 9.8%, while Makkah was up 3.6%. Investbank Abu Dhabi 2.89 11.2 20.0 7.4 Deyaar Development Dubai 1.08 10.2 152,158.7 6.9 Dubai: The DFM index rose 2.0% to close at 3,443.8. The Insurance index gained 3.2%, while the Real Estate & Construction index was up 2.7%. Al Salam Sudan surged 15.0%, while National Industries Group gained 11.7%. Rabigh Ref. & Petroch. Saudi Arabia 30.20 9.8 24,267.7 24.5 Dana Gas Abu Dhabi 0.93 8.1 142,278.9 2.2 Abu Dhabi: The ADX benchmark index gained marginally to close at 4,395.8. The Energy index rose 6.3%, while Real Estate index was up 1.1%. Invest Bank gained 11.2%, while Dana Gas was up 8.1%. Al Ahli Bank 59.30 5.9 0.3 7.8 GCC Top Losers Exchange Kuwait: The KSE index declined marginally to close at 7,657.6. The Technology index fell 2.2%, while the Banking index was down 0.9%. Strategia Investment Co. declined 6.5%, while Al Safat Tec Holding Co. was down 6.4%. Qatar Gen. Ins. & Rein. Qatar Sharjah Islamic Bank Abu Dhabi Oman: The MSM index rose 1.5% to close at 7,086.6. Gains were led by the Industrial and Financial indices, rising 1.7% and 1.3% respectively. Galfar Engineering & Construction gained 6.9%, while Gulf Int. Chem. was up 6.3%. Comm. Bank of Kuwait Kuwait Kingdom Holding Co. Saudi Arabia United Arab Bank Abu Dhabi Bahrain: The BHB index gained 0.5% to close at 1,262.3. The Commercial Banking index rose 1.0%, while the Services index was up 0.9%. BMMI gained 3.7%, while Al Salam Bank was up 3.4%. Close* 1D% Vol. ‘000 YTD% Al Ahli Bank 59.30 5.9 0.3 7.8 Dlala Brok. & Inv. Holding Co. 24.13 4.9 499.9 9.2 Islamic Holding Group 52.00 3.4 388.3 13.0 Al Khaliji 20.79 2.7 145.2 Qatar Navigation 90.20 1.9 Qatar Exchange Top Vol. Trades Close* Salam International Investment Co. 13.14 Barwa Real Estate Co. Qatar ## # Vol. ‘000 YTD% 1D% Vol. ‘000 YTD% 42.50 (7.4) 138.3 (11.3) 1.91 (4.5) 5,914.1 24.0 Close 0.72 (4.0) 0.4 (2.7) 22.10 (3.5) 1,482.4 (9.8) 6.45 (3.0) 1.4 0.0 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) Close* 1D% Vol. ‘000 YTD% Qatar General Ins. & Rein. Co. 42.50 (7.4) 138.3 (11.3) Doha Insurance Co. 27.00 (4.4) 350.1 8.0 Qatar & Oman Investment Co. 12.64 (0.9) 20.7 1.0 4.0 National Leasing 30.80 (0.6) 156.1 2.2 132.2 8.7 Mazaya Qatar Real Estate Dev. 11.48 (0.5) 391.7 2.7 1D% Vol. ‘000 YTD% Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD% 1.1 877.3 1.0 QNB Group 173.50 0.4 64,247.6 0.9 31.05 0.5 651.1 4.2 Industries Qatar 172.60 0.2 38,848.3 2.2 Qatar Gas Transport Co. 20.75 1.0 640.3 2.5 Qatar International Islamic Bank 65.90 1.1 20,778.6 6.8 Dlala Brok. & Inv. Holding Co. 24.13 4.9 499.9 9.2 Islamic Holding Group 52.00 3.4 20,583.5 13.0 United Development Co. 22.90 (0.4) 494.0 1.3 Barwa Real Estate Co. 31.05 0.5 20,164.3 4.2 Qatar Exchange Top Gainers Source: Bloomberg (* in QR) Regional Indices Qatar* Dubai Abu Dhabi Saudi Arabia Kuwait Oman Bahrain Qatar Exchange Top Losers Source: Bloomberg (* in QR) Close 1D% WTD% MTD% YTD% 10,834.84 3,443.76 4,395.78 8,652.50 7,657.57 7,086.60 1,262.29 0.3 2.0 0.0 0.5 (0.0) 1.5 0.5 2.7 (0.8) 0.8 0.4 1.4 2.9 1.1 4.4 2.2 2.5 1.4 1.4 3.7 1.1 4.4 2.2 2.5 1.4 1.4 3.7 1.1 Exch. Val. Traded ($ mn) 110.06 298.90 255.43 1,816.15 108.86 49.76 2.68 Exchange Mkt. Cap. ($ mn) 157,074.2 71,912.9 125,113.5 474,298.2 109,483.6 25,351.7 50,479.5 P/E** P/B** 13.8 20.3 12.3 17.6 16.9 11.2 8.2 1.9 1.4 1.5 2.2 1.2 1.6 0.9 Dividend Yield 4.2 2.6 4.1 3.4 3.7 3.7 3.8 Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) Page 1 of 5
  2. 2. Qatar Market Commentary  The QE index rose 0.3% to close at 10,834.8. The Transportation and Banking & Financial Services indices led the gains. The index rose on the back of buying support from nonQatari shareholders despite selling pressure from Qatari shareholders.  Al Ahli Bank and Dlala Brok. & Inv. Holding Co. were the top gainers, rising 5.9% and 4.9% respectively. Among the top losers, Qatar General Ins. & Rein. Co. fell 7.4%, while Doha Insurance Co. declined 4.4%. Overall Activity Buy %* Sell %* Net (QR) Qatari 51.59% 70.38% (75,308,569.45) Non-Qatari 48.42% 29.62% 75,308,569.45 Source: Qatar Exchange (* as a % of traded value)  Volume of shares traded on Wednesday declined by 45.6% to 8.2mn from 15.1mn on Tuesday. Further, as compared to the 30day moving average of 11.9mn, volume for the day was 30.6% lower. Salam International Investment Co. and Barwa Real Estate Co. were the most active stocks, contributing 10.7% and 7.9% to the total volume respectively. Ratings, Earnings and Global Economic Data Ratings Updates Company Agency Bahrain Islamic Bank (BIsB) Market Moody's Type* Bahrain Supported Issuer Ratings*/ BFSR Old Rating New Rating Rating Change Outlook Outlook Change E+ Ba3/E  Negative – Source: News reports (* LT – Long Term, ST – Short Term, BFSR- Bank Financial Strength Rating) (*Rating confirmed) Earnings Releases Company Revenue (mn) 4Q2013 % Change YoY Operating Profit (mn) 4Q2013 % Change YoY Net Profit (mn) 4Q2013 % Change YoY SR – – 0.4 15.0% 0.7 15.8% SR – – 138.5 -8.3% 135.3 -5.4% Market Tourism Enterprise Co. (SHAMS) Qassim Cement Co. Currency Saudi Arabia Saudi Arabia Source: Company data, DFM, ADX, MSM Global Economic Data Date Market Source Indicator Period Actual Consensus Previous 01/08 US MBA MBA Mortgage Applications 3-January 01/08 US ADP ADP Employment Change December 2.60% – -4.20% 238K 200K 01/08 EU Eurostat Retail Sales MoM November 229K 1.40% 0.10% -0.40% 01/08 EU Eurostat Retail Sales YoY November 1.60% 0.30% -0.30% 01/08 EU Eurostat Unemployment Rate November 12.10% 12.10% 12.10% 01/08 Germany Destatis Trade Balance November 18.1B 18.9B 17.9B 01/08 Germany Bundesbank Exports SA MoM November 0.30% 0.80% 0.30% 01/08 Germany Bundesbank Imports SA MoM November -1.10% 0.70% 3.00% 01/08 Italy ISTAT Unemployment Rate November 12.70% 12.60% 12.50% Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted) News Qatar  QFC amends rules on insolvency, SFOs & SCs; to make firms more flexible – The Qatar Financial Centre (QFC) has issued amendments related to regulations on insolvency, single family offices (SFO) and special companies (SC) in an attempt to improve the QFC's legal architecture. These amendments aim to simplify procedures and give QFC firms more flexibility in their operations, improve legislative certainty and align QFC regulations with best practices elsewhere. The amended regulations enable the creation of a register of insolvency practitioners and sets out how insolvency practitioners can qualify to appear on the register. The rules also allow a company to voluntarily apply to be struck off the register of companies under certain conditions. (Qatar Tribune)  DHBK offers 100% finance option for MPHC’s IPO – Doha Bank (DHBK) is offering up to 100% finance option for Mesaieed Petrochemical Holding Company’s (MPHC) IPO subscribers and their families. The IPO will be open for subscriptions until January 21 and subscribers can seek up to 100% finance for its subscription from Doha Bank. The IPO is only open for Qataris and selected Qatari institutions. (GulfBase.com)  DHBK weighs debt sale as default swaps decline – Doha Bank’s (DHBK) CEO Raghavan Seetharaman said the bank is planning to take on debt in the second half as investor perceptions of the country’s credit risk improve. He added that options include selling senior or subordinated debt to strengthen the balance sheet by reducing the mismatch between short-term assets and long-term liabilities. According to data provider CMA, five-year credit default swaps insuring Qatari debt declined nine basis points since December 1 to 58 basis points January 07. He said credit default swap rates are coming down significantly from December, so debt procurement is planned. (Bloomberg)  Waseef to open world’s largest truck parking – The Waseef Company – a subsidiary of the Barwa Real Estate Group – is set Page 2 of 5
  3. 3. to open the world’s largest truck parking yard at the Industrial Area. The yard, located within the Barwa Al Baraha project, is spread over 675,878 square meters and can accommodate 4,200 trucks. The “Al Baraha Barwa Trucks Parking” center will have eight entries and 12 exits. It will have a petrol station, garages, and parking areas for long-term and short-term usage. (Gulf-Times.com)  Kentz to establish new business entity in Qatar – Kentz Corporation Ltd (Kentz) announced the establishment of a new business entity, “Kentz Engineering International” in Qatar. The new company is a subsidiary of Kentz Engineering International Ireland, which was locally registered in December 2013. Kentz is an engineering & construction company serving clients primarily in the oil & gas, petrochemical and mining & metals sectors. In addition to these, the company offers services in the transportation and infrastructure markets as well. (Peninsula Qatar)  Byrne Looby signs JV with Asco Consulting – Ireland-based engineering services provider Byrne Looby Partners has announced a JV partnership with Qatar-based Asco Consulting Engineers. Byrne Looby will utilize Asco’s experience and license as a Grade-A engineering consultancy in Qatar. This move marks an essential part of Byrne Looby’s growth strategy in the Middle East, resulting in a significant increase of its workforce in both Ireland and the GCC region. (Peninsula Qatar)  QNCD’s BoD to meet on January 26 – Qatar National Cement Company’s (QNCD) board of directors will meet on January 26, 2014 to discuss its financial results for the period ending on December 31, 2013 and the proposal of profit distribution for FY2013. (QE)  KCBK’s BoD scheduled to meet on January 23 – Al Khalij Commercial Bank’s (KCBK) board of directors will meet on January 23, 2014 to discuss the bank’s financial results for the period ending on December 31, 2013 and the proposal of profit distribution for FY2013. (QE)  QIIK’s BoD will meet on January 23 – Qatar International Islamic Bank’s (QIIK) board of directors will meet on January 23, 2014 to discuss the bank’s financial results for the period ending on December 31, 2013. (QE)  Philips to open office in Doha soon – The Netherlands’ ambassador to Qatar Yvette Van Eechoud said the Dutch technology company Philips intends to have a strong presence in Qatar soon and will set up an office in Doha this year. (GulfTimes.com) International  US Fed’s members want cautious approach to QE tapering – The US Federal Reserve's top officials debated their decision to scale back the massive bond-buying quantitative easing (QE) program last month, and they were keen to steer a delicate path. Minutes of the Fed’s December 17-18 policy meeting showed many members of the Federal Open Market Committee wanted to proceed with caution in trimming down its asset purchases. Most members wanted to stress that further reductions were not on a preset course. At that meeting, the US central bank decided to cut purchases by $10bn, bringing them to $75bn per month. Even at that pace the QE program is still an aggressive effort to clear the way for investment, hiring and economic growth in the United States. (Reuters)  Consumer credit in US increases on non-revolving debt – Consumer borrowing in the US increased in November, reflecting a gain in non-revolving debt such as student and auto loans. The Federal Reserve said the $12.3bn advance followed a revised $17.9bn rise the previous month. (Bloomberg)  China tells banks to improve disclosures in shadow-lending fight – China’s banking regulator has told lenders to publish data including off-balance-sheet assets and interbank liabilities as the government steps up scrutiny of the shadow-finance industry. The China Banking Regulatory Commission (CBRC) said lenders with total assets of 1.6tn yuan or more must publish 12 indicators within four months of the end of each financial year. CBRC said the requirement is in line with rules published by the Basel Committee on international banking regulation in July. (Bloomberg)  China’s producer prices extend drop in sign of weakness – China’s producer prices extended the longest slide since the 1990s in December, adding to evidence that its economy weakened last month. According to government reports, the producer-price index (SHCOMP) fell 1.4% from a year before, the 22nd straight drop, and consumer-price gains trailed estimates at 2.5%. (Bloomberg)  China’s inflation hits seven-month low – China's annual consumer inflation slowed more sharply than expected to a seven-month low of 2.5% in December, easing market fears of tighter monetary policy rates. The drop in inflation last month, from November's 3%, was sharper than a fall to the 2.7% rate expected by the market, slowed by volatile food costs. However, rising money market rates and bond yields indicate that the People's Bank of China is tightening liquidity conditions to reduce debt levels and contain credit growth. However, there is little sign of a sharp turnaround in its policy stance. (ET) Regional  E&Y: Gulf private healthcare providers should raise capital through IPOs – According to a report by Ernst & Young (E&Y), private healthcare providers based in the Gulf should consider raising capital through IPOs as the healthcare expenditure as a proportion to the region’s GDP still remains low. The report said recent IPO of several healthcare facilities have set a precedent and more are to follow in the coming years. Numerous new facilities are planned in almost all the GCC region countries. The report added that the healthcare spending in the GCC region, which has the potential to become a hub for medical tourism, is expected to grow 11.4% until 2015, based on demographic and macroeconomic factors. With programs such as mandatory insurance, there is an increasing reliance on the private healthcare sector and well-established facilities are expanding rapidly to create capacity for their growing markets. The report said one way of doing this is by way of an IPO and raising capital for expansion. (Gulf-Times.com)  Riyad Bank’s net profit rises 27.2% YoY in 4Q2013 – Riyad Bank reported a net profit of SR1.03bn in 4Q2013, representing an increase of 27.2% YoY. Net profit for the full year was SR3.95bn, up 13.9% YoY. Loans & advances at the end of 2013 stood at SR131.2bn, up 11.7% on the same point of 2012. Customer deposits gained 4.8% from a year earlier and stood at SR153.2bn on December 31, 2013. The bank said its board had recommended a cash dividend of SR0.8 for 2H2013. (Reuters)  Saudi Hollandi earns SR347.3mn net profit in 4Q2013 – Saudi Hollandi Bank has reported a net profit of SR347.3mn in 4Q2013, indicating an increase of 10.8% YoY. The bank’s fullyear net profit was SR1.5bn, a 19.8% increase on 2012. Saudi Hollandi's loans portfolio stood at SR53.7bn on December 31, rising 18.5% over December 31, 2012. (Qatar Tribune)  IDC: Kingdom’s healthcare IT markets to rise by 11% annually – According to a report by the International Data Page 3 of 5
  4. 4. Corporation (IDC), Saudi Arabia’s healthcare IT market is forecast to grow by 11% annually, making it one of the fastest growing markets in the world. IT spending in Saudi Arabia is increasing due to modernization and expansion of hospitals and clinics as the Kingdom looks to increase its bed capacity to 30,000. The report said that IT spending among healthcare organizations in the UAE, Saudi Arabia, Turkey and South Africa is expected to rise by 10% annually over the next five years. (GulfBase.com)  Saudi Aramco to skip diesel term imports on delivered basis – According to sources, Saudi Aramco will skip diesel term imports on a delivered basis, removing a huge chunk of demand from the Asian and Middle East oil markets and potentially reducing refinery margins. The company is skipping term imports of diesel on a delivered basis this year for the first time after years of contracts with sellers to import at least about 2.2mn to 3mn barrels a month of the oil product. Cargoes chartered on a delivered basis mean the seller usually pays the freight charges to deliver cargoes to the buyer. Aramco might instead focus on tying up term contracts on a free-on-board basis with sellers like India-based Reliance Industries, though this is not certain and overall term volumes will be much less than past years. (GulfBase.com)  UAE’s loan growth set to rise 10% in 2014 – According to Standard & Poor's (S&P), loan growth in the UAE is set to jump at least 10% in 2014 as an increase in bank deposits drives down borrowing costs. S&P said that the lending will rise around 10% after increasing 9.6% last year. The UAE central bank’s data showed that customer deposits at 51 banks in the UAE rose 11% in the 12 months through September, the highest since 2008. S&P Financial Services Ratings’ Associate Director Timucin Engin said that the country’s lending growth will remain healthy in 2014 and it will be in line with the strong outlook for retail credit growth and some additional activity in the corporate sector. (GulfBase.com)  ADNOC to take oilfields stakes from Western majors – The Abu Dhabi National Oil Company (ADNOC) said it will take full control of the Abu Dhabi Company for Onshore Oil Operations’ (ADCO) oil concession when the decades-old partnership with some of the world’s biggest oil companies ends in a few days’ time. ADNOC currently holds a 60% controlling stake in ADCO, while ExxonMobil, Royal Dutch Shell, Total and BP hold 9.5% stakes each. After January 11, ADNOC will take possession of 100% the interests in the concession. (Bloomberg)  UAE wood industry to grow 126% until 2020 – The wood industry in the UAE is expected to register a cumulative growth of 126% over the next seven years driven by the boom in the construction sector as part of the World Expo 2020 build-up. Organizers of the three-day Dubai WoodShow 2014 said that this growth will be powered by rising investments in the real estate and infrastructure, in addition to the other expansion projects across the country. (GulfBase.com) named Hanadi Al Saleh as its Chairperson and Tarek Sultan as its Chief Executive Officer & Vice Chairman, who will continue to lead business strategy, operations and organizational development. (DFM)  Aramex expects double-digit profit growth in 2013 – Dubaibased Aramex expects to have grown with double-digit net profit and revenue in 2013. In 2H2014, the company is eyeing acquisitions in South Africa and east Africa. Aramex’s Founder and Vice Chairman Fadi Ghandour said that nine-month net profit at the firm rose 13% YoY and full-year results should be in line with that. Ghandour did not expect to make any acquisitions before 3Q2014 and anything costing below $100mn. He said that Aramex could finance itself. (GulfBase.com)  Etihad appoints new GMs for Philippines, Brazil – Etihad Airways has appointed Juan Torres as General Manager for the Philippines and Christophe Didier as General Manager for Brazil. This is Torres’ second posting in the Philippines after being the airline’s general manager from 2006 to 2010. Didier joins Etihad from Delta Airlines, where he held a number of senior sales positions in Latin and North America. (GulfBase.com)  ADIB launches capital-protected note – Abu Dhabi Islamic Bank (ADIB) has launched a new capital-protected note that allows customers to invest in the world’s biggest car manufacturers. The Shari’ah-compliant note provides 100% capital protection at maturity to minimize risk, along with an expected return of up to 8%. The note, which matures in one year, is currently open for subscription with a minimum amount of $30,000. The note offers an opportunity to profit from the steady growth of the car manufacturers in the world including Toyota, GM, Volkswagen, Honda Motors and BMW. (GulfBase.com)  Sharjah’s FC/LC credit rated A/A-1 by S&P; gets A3 rating from Moody's – S&P has assigned A/A-1 long- and short-term foreign and local currency sovereign credit ratings to the Emirate of Sharjah with a Stable outlook. Meanwhile, Moody's has assigned a first-time local and foreign-currency rating of A3 to the Government of Sharjah. The rating carries a Stable outlook. (GulBase.com)  ONEIC obtains tender from SSDC – Oman National Engineering & Investment Company (ONEIC) has obtained a two-year tender from SSDC worth OMR324mn for the supply of staff and laborers for operation, management and maintenance work of STP and waste water network at Mazionah. The company expects to gain reasonable profit from this contract. (MSM)  Bank Muscat signs MoU to provide finance for Taameer project – Bank Muscat and Taameer Investment have signed a MoU to provide attractive baituna home finance for Jasmine complex residential units that are being developed by Taameer in Al Khuwair. (Bloomberg)  Air Arabia increases frequency on Sharjah-Doha route – Air Arabia announced the expansion of its services to Doha by increasing its existing twice-daily services between Sharjah and Doha to three times daily. This increase makes it one of the most frequent fliers between the two countries. The airline now operates 154 weekly flights within the Gulf region. (GulfBase.com)  Agility divides role of Chairman, CEO – Agility's board has announced that the company will separate the roles of its Chairman and CEO. The move brings Agility in compliance with the new commercial law and corporate governance regulations set out by Kuwait's Capital Market Authority (CMA). The board Page 4 of 5
  5. 5. Rebased Performance Daily Index Performance 160.0 150.0 140.0 130.0 120.0 110.0 100.0 90.0 80.0 2.5% 2.0% 2.0% 136.9 124.3 1.0% 1.5% 1.5% 0.5% 0.5% 0.5% 0.3% 0.0% 0.0% S&P Pan Arab Dec-13 S&P GCC Source: Bloomberg Asset/Currency Performance Gold/Ounce Silver/Ounce Crude Oil (Brent)/Barrel (FM Future) Natural Gas (Henry Hub)/MMBtu North American Spot LPG Propane Price North American Spot LPG Normal Butane Price Euro Yen Dubai May-13 Oman Oct-12 Abu Dhabi QE Index Mar-12 Bahrain Aug-11 Kuwait Jan-11 (0.0%) Qatar (0.5%) Saudi Arabia Jun-10 155.7 Source: Bloomberg Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD% 1,225.94 (0.5) (0.9) 1.7 DJ Industrial 16,462.74 (0.4) (0.0) (0.7) 19.54 (1.7) (3.1) 0.4 S&P 500 1,837.49 (0.0) 0.3 (0.6) 107.15 (0.2) 0.2 (3.3) NASDAQ 100 4,165.61 0.3 0.8 (0.3) 4.35 (4.1) 0.2 0.2 STOXX 600 329.75 0.1 0.6 0.5 128.00 2.6 4.1 1.2 DAX 9,497.84 (0.1) 0.7 (0.6) 138.00 0.2 1.3 1.7 FTSE 100 6,721.78 (0.5) (0.1) (0.4) 1.36 (0.3) (0.1) (1.2) CAC 40 104.86 0.2 0.0 (0.4) Nikkei 4,260.96 (0.0) 0.3 (0.8) 16,121.45 1.9 (1.0) (1.0) GBP 1.64 0.3 0.2 (0.7) MSCI EM CHF 1.10 (0.2) (0.6) (2.0) SHANGHAI SE Composite 973.17 0.2 (0.6) (2.9) 2,044.34 (0.1) (1.9) (3.4) AUD 0.89 (0.3) (0.5) (0.2) HANG SENG 22,996.59 1.2 0.8 (1.3) USD Index 81.02 0.2 0.3 RUB 33.20 0.2 0.0 1.2 BSE SENSEX 20,729.38 0.2 (0.6) (2.1) 1.0 Bovespa 50,576.64 0.3 (0.8) (1.8) BRL 0.42 (0.9) (0.5) (1.2) 1,390.35 0.1 (3.6) (3.6) Source: Bloomberg RTS Source: Bloomberg 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