The QSE Index rose 0.5% to close at 9,977.8.

1. Page 1 of 5
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 0.5% to close at 9,977.8. Gains were led by the Insurance and
Telecoms indices, gaining 1.7% and 1.4%, respectively. Top gainers were Al Meera
Consumer Goods Co. and Mazaya Qatar Real Estate Development, rising 3.3% and 2.6%,
respectively. Among the top losers, Qatar Electricity & Water Co. and Qatar National
Cement Co. were down 1.1% each.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.7% to close at 7,155.2. Gains were led by the Multi-
Inv. and Building & Construction indices, rising 2.7% and 2.5%, respectively. CHUBB
Arabia Coop. Ins. rose 10.0%, while Al Yamamah Steel Ind. was up 9.9%.
Dubai: The DFM Index gained 1.3% to close at 3,452.4. The Banks index rose 2.5%,
while the Consumer Staples index gained 2.2%. Agility The Public Warehousing Co. rose
14.9%, while Union Properties was up 5.1%.
Abu Dhabi: The ADX benchmark index rose 1.3% to close at 4,355.8. The Banks index
gained 1.7%, while the Real Estate index rose 1.6%. Abu Dhabi Commercial Bank
gained 3.6%, while Al Dar Properties Co. was up 2.4%.
Kuwait: The KSE Index rose 0.3% to close at 5,564.7. The Real Estate index gained 1.4%,
while the Financial Services index rose 0.5%. Amwal International Investment Co.
gained 14.3%, while Metal & Recycling Co. was up 7.9%.
Oman: The MSM Index rose 0.7% to close at 5,654.7. Gains were led by the Financial
and Services indices, rising 0.7% and 0.6%, respectively. Bank Sohar rose 8.0%, while
Oman Investment and Finance was up 7.2%.
Bahrain: The BHB Index gained 0.8% to close at 1,181.7. The Investment index rose
2.4%, while the Commercial Banks index gained 0.6%. Arab Banking Corporation rose
9.7%, while National Bank of Bahrain was up 2.9%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Al Meera Consumer Goods Co. 172.50 3.3 4.0 (21.6)
Mazaya Qatar Real Estate Dev. 12.80 2.6 193.0 (5.4)
Qatar Oman Investment Co. 9.69 2.5 2.6 (21.2)
Qatar Insurance Co. 85.10 2.2 85.1 22.4
Gulf Warehousing Co. 50.50 1.8 45.3 (11.2)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 9.54 0.3 3,482.2 (24.9)
Barwa Real Estate Co. 31.40 1.0 562.5 (21.5)
Ezdan Holding Group 15.36 0.3 560.1 (3.4)
National Leasing 14.62 1.5 338.4 3.7
Salam International Inv. Ltd. 11.00 0.1 304.9 (6.9)
Market Indicators 06 Dec 16 05 Dec 16 %Chg.
Value Traded (QR mn) 191.6 333.9 (42.6)
Exch. Market Cap. (QR mn) 536,283.8 534,013.1 0.4
Volume (mn) 7.7 12.7 (39.1)
Number of Transactions 2,881 3,388 (15.0)
Companies Traded 38 39 (2.6)
Market Breadth 24:9 11:25 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,143.35 0.5 0.6 (0.4) 14.5
All Share Index 2,744.56 0.4 0.5 (1.2) 13.5
Banks 2,751.75 0.6 0.3 (1.9) 11.8
Industrials 3,124.34 (0.4) (0.4) (2.0) 17.3
Transportation 2,427.25 0.3 0.1 (0.2) 12.4
Real Estate 2,214.70 0.5 1.9 (5.1) 18.1
Insurance 4,403.36 1.7 0.7 9.2 11.4
Telecoms 1,137.67 1.4 2.0 15.3 20.6
Consumer 5,713.63 0.4 0.5 (4.8) 11.3
Al Rayan Islamic Index 3,695.25 0.5 0.9 (4.2) 16.0
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Arab Banking Corp. Bahrain 0.34 9.7 20.0 (20.0)
Bank Sohar Oman 0.16 8.0 5,612.2 3.2
Al-Hassan G.I. Shaker Saudi Arabia 16.55 6.1 3,870.3 (41.6)
Saudi Enaya Coop. Ins. Saudi Arabia 14.89 5.8 1,671.2 (55.2)
Nat. Real Estate Co. Kuwait 0.10 5.4 12,227.4 19.7
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Energy Abu Dhabi 0.53 (3.6) 506.9 12.8
Aluminium Bahrain Bahrain 0.30 (1.9) 28.8 (18.3)
Aviation Lease & Fin. Kuwait 0.22 (1.8) 275.7 4.8
Ahli United Bank Kuwait 0.39 (1.3) 45.0 (19.1)
Boubyan Bank Kuwait 0.39 (1.3) 223.5 (6.9)
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%
Qatar Electricity & Water Co. 211.50 (1.1) 31.2 (2.3)
Qatar National Cement Co. 81.30 (1.1) 78.6 (12.3)
Gulf International Services 30.70 (1.0) 76.7 (40.4)
Mannai Corp 76.30 (0.5) 11.6 (19.9)
Industries Qatar 107.90 (0.5) 125.9 (2.9)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Vodafone Qatar 9.54 0.3 33,355.8 (24.9)
QNB Group 151.00 0.8 20,181.7 3.5
Barwa Real Estate Co. 31.40 1.0 17,575.9 (21.5)
Industries Qatar 107.90 (0.5) 13,601.7 (2.9)
Commercial Bank 34.50 0.0 10,012.8 (24.8)
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* 9,977.76 0.5 0.6 1.9 (4.3) 52.61 147,317.2 14.5 1.5 4.1
Dubai 3,452.41 1.3 2.7 2.7 9.6 300.38 87,425.1 11.3 1.3 4.0
Abu Dhabi 4,355.83 1.3 1.1 1.1 1.1 65.72 115,937.9 11.2 1.4 5.6
Saudi Arabia 7,155.20 0.7 0.9 2.2 3.5 1,817.78 445,410.8 17.0 1.7 3.2
Kuwait 5,564.73 0.3 (0.1) 0.2 (0.9) 56.46 84,374.1 18.9 1.0 4.4
Oman 5,654.74 0.7 1.2 3.0 4.6 10.92 22,818.9 10.7 1.1 5.0
Bahrain 1,181.67 0.8 0.3 0.6 (2.8) 1.65 18,395.3 9.7 0.4 4.7
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)
9,850
9,900
9,950
10,000
10,050
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 rose 0.5% to close at 9,977.8. The Insurance and Telecoms
indices led the gains. The index rose on the back of buying support from
non-Qatari shareholders despite selling pressure from Qatari and GCC
shareholders.
 Al Meera Consumer Goods Co. and Mazaya Qatar Real Estate Development
were the top gainers, rising 3.3% and 2.6%, respectively. Among the top
losers, Qatar Electricity & Water Co. and Qatar National Cement Co. were
down 1.1% each.
 Volume of shares traded on Tuesday fell by 39.1% to 7.7mn from 12.7mn
on Monday. Further, as compared to the 30-day moving average of 8.7mn,
volume for the day was 11.7% lower. Vodafone Qatar and Barwa Real
Estate Co. were the most active stocks, contributing 45.1% and 7.3% to the
total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
12/06 Germany Markit Markit Germany Construction PMI November 53.9 – 52.9
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar to spend QR46bn on major projects in 2017 – Qatar expects
its economy to grow 3.4% in 2017 and plans investment up to
QR46bn in major infrastructure projects as part of strategy to
achieve sustainable development and economic diversification.
Several measures, including efficiency enhancement in public
spending, the financial sector growth and higher contribution of
the private sector, would make Qatar achieve such a high growth.
The Finance Minister stressed that the 2016 budget reinforces
Qatar’s confidence for the future, with dedicated investment in
healthcare, education and transportation – along with investment
in infrastructure for the 2022 FIFA World Cup – all likely to have a
positive effect on the national economy. The total budget
committed for the development of key strategic megaprojects
stands at QR374bn, with further QR46bn set to be invested in
2017. (Gulf-Times.com)
 ABank may become wholly-owned subsidiary of CBQK –
Commercial Bank of Qatar (CBQK) which holds 75% shares in
mid-sized Alternatifbank (ABank), said it has received approval
from Qatari regulatory authorities enabling Anadolu Endüstri
Holding (AEH) to exercise the put option, following which the
Turkish lender will become its wholly-owned subsidiary. This
approval completes all of the necessary authorizations for the
exercise of put option. It is expected that the subsequent share
transfer will be made in the second half of December 2016. In July
this year, the Qatari lender had informed the Qatar Stock Exchange
that it received a notice from AEH to exercise the put option with
respect to 192.5mn or 25% of registered shares held by AEH in
ABank under the shareholders’ agreement signed with
Commercial Bank on July 18, 2013. Share sale value has been
calculated at $222.5mn as of July 18, 2016 based on the base price
method specified in the shareholders’ agreement. (Gulf-
Times.com)
 QIIK EGM approves its agenda items – Qatar International Islamic
Bank (QIIK) announced the results of its extraordinary general
assembly meeting (EGM) dated December 5, 2016 where it
approved the Amendment of Article 7 regarding the ownership
ceiling limit signifying that shares shall be nominal and each share
is indivisible in the face of the company, if a share is held by
multiple persons, these persons have to choose someone to
represent them in the use of the rights related to the share and
these persons shall be jointly responsible for the liabilities arising
from the ownership of the share. The EGM authorize QIIK
Chairman/MD to sign the new Articles of Association after the new
amendments and to complete all the procedures to publicize the
new amendments. (QSE)
 QISI EGM approves its agenda items – Qatar Islamic Insurance
Company (QISI) announced the results of the Extraordinary
General Assembly Meetings held on December 5, where the
resolutions passed were as follows: approved the amendment of
Article (6) of Chapter II, approved the amendment of Article 13 of
Chapter III, approved to add the following text to Article No. (13)
of Chapter III where one - third of the members of the Board of
Directors of the independent members experienced non-
shareholders, and exempted them from owning equity
requirement which mentioned in item (3) of this article and
approved the amendment of Article 50 of Chapter VI. (QSE)
 Al Rayan Bank opens its first office in Scotland – Al Rayan Bank
(UK), the UK subsidiary of Masraf Al Rayan (MARK), has opened
an office in Scotland. The office was officially opened by Al Rayan
Bank Chief Executive Officer Sultan Choudhury and Chief
Commercial Officer Keith Leach, together with key members of the
bank’s executive team. (Gulf-Times.com)
 Qatar well on track for its PPP legislative framework – Qatar
Financial Centre (QFC) Authority CEO Yousuf Mohamed al-Jaida
said that various stakeholders in the state are currently finalizing a
legislative framework for public-private partnership (PPP) models
in Qatar, a move that would further develop the country’s
economy. Al-Jaida said Qatar’s entire LNG industry was built on a
PPP model, adding that many GCC countries are looking into PPPs
to diversify their economies. He said, “The country has built a
successful model of partnership between the public and private
sectors. The local industries have greatly developed throughout
the past year and have benefited from partnerships with
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 29.39% 43.49% (27,013,097.83)
Qatari Institutions 22.66% 17.82% 9,269,597.82
Qatari 52.05% 61.31% (17,743,500.01)
GCC Individuals 0.35% 0.50% (297,323.70)
GCC Institutions 7.68% 9.05% (2,629,453.23)
GCC 8.03% 9.55% (2,926,776.93)
Non-Qatari Individuals 8.66% 8.93% (515,272.42)
Non-Qatari Institutions 31.26% 20.20% 21,185,549.36
Non-Qatari 39.92% 29.13% 20,670,276.94

3. Page 3 of 5
international companies. Whether it’s infrastructure or stadiums, a
PPP structure is probably going to be the most successful model. A
lot of economies regionally and globally have built their
infrastructure based on a PPP model.” (Gulf-Times.com)
 Malaysia is eyeing Qatar investment for Langkawi Island tourism
growth – Malaysia wants to infuse Qatari investments in various
tourism-related projects in Langkawi Island, a vacation destination
in the country’s State of Kedah, which has become popular among
American and European tourists. Managing Director of Invest
Kedah, Dato’ Ahmad Shukri Tajuddin, a ‘government-linked
company’ formed to attract and support business in Kedah, was in
Qatar to invite major players in Qatar’s public and private sector to
explore investment opportunities in Langkawi. Tajuddin said
Malaysia had recorded growth in tourist arrival from 16.4mn
visitors in 2005 to 25.7mn in 2015. In 2015, Langkawi Island
received 3.62mn tourists. (Gulf-Times.com)
International
 US trade gap widens as exports of soybeans, other products drop –
US trade deficit recorded its biggest increase in more than 1-1/2
years in October as exports of soybeans and other products fell,
suggesting trade would be a drag on growth in 4Q2016. The
Commerce Department said the trade gap rose 17.8%, the largest
increase since March 2015, to $42.6bn. Higher imports due to
rising domestic demand also contributed to the widening of the
deficit. When adjusted for inflation, the deficit rose to $60.3bn
from $54.2bn in September. Exports contributed 0.87 percentage
point to the third quarter's 3.2% annualized rate of increase in
gross domestic product. The jump in exports in 3Q2016 largely
reflected a surge in soybean shipments to China after a poor
harvest in Argentina and Brazil. (Reuters)
 US productivity in 3Q2016 fastest in two years – US worker
productivity rebounded sharply in 3Q2016 as initially estimated,
marking its quickest rate of growth in two years, but the trend
remained weak. The Labor Department said that nonfarm
productivity, which measures hourly output per worker, rose at an
unrevised 3.1% annual rate. The increase ended three straight
quarters of decline. Productivity fell at a 0.2% rate in 2Q2016 and
was unchanged compared to 3Q2015. The government revised
GDP data to show the economy growing at a 3.2% pace in 3Q2016
instead of the 2.9% rate it had previously reported. Output per
worker in 3Q2016 jumped at a 3.6% rate, also the fastest pace
since 3Q2014. (Reuters)
 UK narrows current account deficit after major data error – Britain
appears to have relied slightly less on the kindness of strangers
before the Brexit vote, after its statistics agency uncovered major
errors in trade data that meant the current account deficit was
narrower than first calculated. Bank of England Governor Mark
Carney used the phrase in the run-up to June's referendum on EU
membership, highlighting how Britain, to balance its books, needs
tens of billions of pounds of foreign finance a year that could be
placed in jeopardy. After the Office for National Statistics revised
down the gap to 6.0% of gross domestic product from 7.0%, it
turns out Britain no longer chalked up a record deficit in 4Q2015.
The downward revision continued into 2016. The current account
deficit for 2015, while cut from an earlier 5.4% of GDP, was still
the largest on record at 5.0%. The gap for 2Q2016 was revised
down to 5.4% from 5.9%. (Reuters)
 Household, government spending support Eurozone in 3Q2016 –
Household and public sector spending supported Eurozone
growth in 3Q2016 as the impact of foreign trade turned negative.
Eurostat confirmed gross domestic product growth in the 19
countries sharing the Euro rose 0.3% QoQ. However, it revised up
its figure for YoY growth to 1.7% from 1.6% it previously reported.
The biggest contribution to growth came from household
spending, which added 0.2 percentage points to the final result,
with changes of inventories and public sector spending also each
adding another 0.1 points. (Reuters)
 German industry orders post biggest rise for more than two years –
German industrial orders rose in October at their fastest pace for
more than two years, suggesting that the industrial sector will
prop up growth in Europe's largest economy in the coming
months. Factories saw demand climb 4.9% on the month despite
bulk orders being lower than usual. That was the biggest increase
since July 2014 and far above the Reuters consensus forecast for a
0.6% rise. (Reuters)
 Japan business mood brightens as yen weakens – Japanese
manufacturers' confidence rose for a fourth straight month to a
16-month high in December and the service sector's mood also
rose, a Reuters poll showed, with a weaker yen brightening
prospects for exporters. The monthly Reuters Tankan - which
tracks the Bank of Japan's key quarterly tankan - found sentiment
at manufacturers and service-sector firms both up from three
months ago, pointing to improvement in the central bank's survey
out next week. In the poll of 531 large- and mid-sized firms,
carried out between November 22 and December 2 and in which
268 responded, the sentiment index for manufacturers rose to 16
from 14 in November, driven by steel and transport equipment
makers. It was the highest reading since August 2015, but it is
expected to fall to 10 over the next three months. (Reuters)
Regional
 Low wage growth expected for Gulf countries – Households in the
Arabian Gulf are facing their weakest earnings growth prospects in
a decade as low oil prices force employers to keep pay rises to a
minimum. Real wages in the region will increase by just over 1% in
2017 a lower rise than most other regions except Latin America
and Africa. Although headline pay increases in Arabian Gulf
countries would average 4.2%, inflation will mean that real
disposable incomes will rise by just 1.3%. UAE is expected to have
the lowest real wage increases in the region, with average salaries
rising by just 0.5% as slowing growth forces companies to tighten
budgets. Employees in Saudi Arabia are expected to fare only
slightly better, with real wages expected to increase by 0.8%.
(GulfBase.com)
 KSA non-oil business activity buoyed by bond issue – According to a
survey, growth in Saudi Arabia’s non-oil private sector picked up
in November from a record low in October after a mammoth
$17.5bn bond issue by the government improved sentiment in the
business community. The seasonally adjusted Emirates NBD Saudi
Arabia Purchasing Managers’ Index rose to 55.0 in November from
53.2 in October, which was the lowest level since the survey was
launched in August 2009. A level above 50 means business is
expanding. The bond sale in late October, Riyadh’s first overseas
sovereign bond issue, eased fears about Saudi Arabia’s ability to
finance itself in an era of low oil prices. It gave the government
room to suspend domestic bond issues, causing money market
rates to begin pulling back from multi-year highs. (GulfBase.com)
 Saudi Aramco cuts January oil price to Asia to four-month low –
Saudi Aramco has cut the January price for its Arab Light crude for
Asian customers to the lowest in four months as it holds to a
strategy of preserving market share in the world's fastest-growing
demand center. The price cuts are meant to ensure that Saudi
Aramco can still sell more oil into Asia even after going along with
the OPEC-Russia deal to cut output. Saudi Arabia has been
struggling over the last two years to fight off increased
competition from other producers in the Middle East, Russia and
the Atlantic Basin. (Reuters)
 KSA’s Almarai recommends lower cash dividend for 2016 – Saudi
Arabia's Almarai said that its board had recommended a cash

4. Page 4 of 5
dividend of SR0.9 per share for 2016. Almarai, the Gulf's largest
dairy firm, paid a cash dividend of SR1.15 for 2015. (Reuters)
 Saudi Arabia ready for Saudi Aramco’s share sale in domestic
market – According to the Vice Chairman of the Kingdom’s market
regulator, Saudi Arabia is ready for the initial public offering of
Saudi Arabian Oil Co. in the domestic market, with additional work
needed if there is a decision to sell shares in more than one
country. Saudi Aramco’s Chief Executive Officer, Amin Nasser said
that Saudi Aramco plans to sell shares on the Saudi stock market
and is also considering foreign bourses in London, Hong Kong and
New York. Saudi Aramco’s plan to sell a stake of about 5% could
value the company in trillions of dollars. (Bloomberg)
 Joint Kuwait-Saudi Arabia oil fields to stick to OPEC caps if restarted
– Kuwait and Saudi Arabia agreed that any resumption of crude
production from shared oil fields along their border won’t raise
their output beyond limits set at the OPEC meeting last week.
Saudi Arabia and Kuwait will cut output from their producing oil
fields to allow for any increase from the Wafra and Khafji fields
between the two countries, who asked not to be identified because
the information isn’t public. The countries have yet to agree on a
specific time to restart the shared fields. (Bloomberg)
 Saudi Investment Bank’s BOD recommends capital hike, cash
dividends – Saudi Investment Bank board of directors
recommended in the extraordinary general meeting (EGM)
increasing the bank’s capital by 7.1% from SR7bn to SR7.5bn. The
SR500mn capital hike will be financed from the retained earnings
representing a distribution of 1 bonus share for every 14 shares,
increasing the total outstanding shares from 700mn to 750mn.
Saudi Investment Bank also announced, in a separate statement to
the Saudi Stock Exchange (Tadawul), that the board of directors
has recommended the distribution of cash dividends for the year
2016 at SR0.5 per share or 5% of capital. (Tadawul)
 Emirates Islamic Bank launches AED1.5bn dirham rights issue –
Emirates Islamic Bank, the Shariah-compliant arm of Dubai’s
largest lender, launched its AED1.5bn rights issue. Shareholders,
who hold shares in the bank at the close of business, will be
eligible to the subscription which begins on December 14, 2016
and ends on December 28, 2016. Allocation of the new shares will
be made on December 29, 2016. (Gulf-Times.com)
 GFH Financial Group to inject cash in stalled Bahrain development –
GFH Financial Group (GFH) has completed a debt-restructuring
agreement with the developer of a long-delayed $700mn project in
Bahrain. GFH said that under the new agreement it would fund the
completion of the 35,900 square meters up market housing and
hotel project by injecting cash up to $50mn. (GulfBase.com)
 GFH Financial Group close to completing Al Khair Bank acquisition,
eyes another merger – GFH Financial Group hopes to largely
complete the acquisition of Bahrain's Bank Al Khair in 1Q2017 and
is at an advanced stage of exploring a merger with another
Bahraini bank. (Reuters)
 CEO: Islamic bank Al Baraka eyes $300mn Tier 1 Sukuk issue in
1Q2017 – Chief Executive of the Bahrain-based Islamic lender, Al
Baraka Banking Group is targeting the sale of capital-boosting
Sukuk worth $300mn in 1Q2017, with operations in over a dozen
countries. Al Baraka had a total capital adequacy ratio - a key
indicator of a bank's financial health, which combines both Tier 1
and supplementary Tier 2 capital of 15.15% as of June 30, 2016.
(Reuters)

5. Contacts
Saugata Sarkar Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
QNB Financial Services Co. WLL One Person Company
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. WLL One Person Company (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ 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. QNBFS accepts no liability
whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged
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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
Nov-12 Nov-13 Nov-14 Nov-15 Nov-16
QSEI ndex S& PPanA r ab S& PGCC
0.7%
0.5%
0.3%
0.8%
0.7%
1.3% 1.3%
0.0%
0.5%
1.0%
1.5%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,169.75 (0.1) (0.6) 10.2 MSCI World Index 1,727.82 0.6 1.1 3.9
Silver/Ounce 16.72 (0.2) (0.1) 20.7 DJ Industrial 19,251.78 0.2 0.4 10.5
Crude Oil (Brent)/Barrel (FM Future) 53.93 (1.8) (1.0) 44.7 S&P 500 2,212.23 0.3 0.9 8.2
Crude Oil (WTI)/Barrel (FM Future) 50.93 (1.7) (1.5) 37.5 NASDAQ 100 5,333.00 0.5 1.5 6.5
Natural Gas (Henry Hub)/MMBtu 3.71 3.0 8.9 60.4 STOXX 600 344.57 0.5 1.9 (7.1)
LPG Propane (Arab Gulf)/Ton 62.00 (0.4) 1.6 58.5 DAX 10,775.32 0.3 2.8 (1.5)
LPG Butane (Arab Gulf)/Ton 90.00 (1.1) 7.1 56.5 FTSE 100 6,779.84 0.1 0.6 (6.6)
Euro 1.07 (0.4) 0.5 (1.3) CAC 40 4,631.94 0.7 2.6 (1.5)
Yen 114.02 0.1 0.4 (5.2) Nikkei 18,360.54 0.0 (0.6) 2.1
GBP 1.27 (0.4) (0.4) (14.0) MSCI EM 861.49 0.9 1.0 8.5
CHF 0.99 (0.4) 0.0 (0.8) SHANGHAI SE Composite 3,199.65 (0.4) (1.3) (14.7)
AUD 0.75 (0.1) 0.1 2.4 HANG SENG 22,675.15 0.7 0.5 3.4
USD Index 100.49 0.4 (0.3) 1.9 BSE SENSEX 26,392.76 0.6 1.1 (1.2)
RUB 63.86 0.1 0.1 (11.9) Bovespa 61,088.25 2.6 3.0 63.5
BRL 0.29 0.4 2.1 16.2 RTS 1,059.97 (0.9) 0.9 40.0
116.0
105.1
101.1