The QE index in Qatar declined 1.4% led by losses in the Consumer Goods & Services and Banks & Financial Services indices. Qatar International Islamic Bank and Qatar General Insurance & Reinsurance Co. fell 4.9% each. Volume traded rose slightly while trading activity was higher than the 30-day average. Regional indices also declined except for Saudi Arabia. News from Qatar included projects market momentum, Barwa Real Estate reporting increased profits, Muntajat signing a shipping contract, and corporate events from banks and insurers.
QE index declines 1.4% led by Consumer Goods & Services, Banks indices
1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.4% to close at 11,349.2. Losses were led by the
Consumer Goods & Services and Banks & Financial Services indices, declining
3.3% and 1.8% respectively. Top losers were Qatar International Islamic Bank
and Qatar General Ins. & Reins. Co., falling 4.9% each. Among the top
gainers, Mannai Corp rose 3.9%, while Qatari Investors Group rose 3.7%.
GCC Commentary
Saudi Arabia: The TASI index fell marginally to close at 9,351.1. Losses were
led by the Hotel & Tourism and Transport indices, declining 1.5% and 0.9%
respectively. Etihad Atheeb fell 3.3%, while Saudi Auto. Serv. was down 2.2%.
Dubai: The DFM index declined 3.8% to close at 3,935.7. The Invest. &
Financial Serv. index fell 5.2%, while the Real Estate & Con. index was down
4.8%. Deyaar Dev. declined 9.6%, while Ekttitab Holding Co. was down 7.9%.
Abu Dhabi: The ADX benchmark index fell 2.8% to close at 4,650.2. The Real
Estate index declined 4.6%, while the Inv. & Fin. Ser. index was down 3.7%.
Abu Dhabi Shipbuild. fell 9.9%, while Arkan Build. Materials was down 8.5%.
Kuwait: The KSE index declined 0.2% to close at 7,503.6. The Consumer
Services index fell 1.5%, while the Technology index was down 1.1%. Zima
Holding Co. declined 8.8%, while Acico Industries Co. was down 8.3%.
Oman: The MSM index fell 0.1% to close at 7,069.2. Losses were led by the
Services Index, which declined 0.1%, while the Industrial index was down
marginally. Areej Veg. Oils & Der. fell 5.7%, while United Fin. was down 1.9%.
Bahrain: The BHB index declined 0.9% to close at 1,374.6. The Commercial
Bank index fell 1.8%, while the Services index was down 1.0%. Al Salam Bank
declined 5.5%, while National Bank of Bahrain was down 4.7%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Mannai Corp 106.00 3.9 0.1 17.9
Qatari Investors Group 51.10 3.7 2,971.1 16.9
Islamic Holding Group 59.00 3.5 517.2 28.3
Vodafone Qatar 11.99 0.8 933.6 12.0
Qatar Industrial Manufacturing Co. 42.70 0.5 43.4 1.3
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatari Investors Group 51.10 3.7 2,971.1 16.9
Qatar General Ins. & Reins. Co. 46.50 (4.9) 2,538.6 (2.9)
Mesaieed Petrochemical Holding 39.40 (1.6) 1,732.0 294
United Development Co. 21.80 (0.5) 1,189.0 (3.6)
Barwa Real Estate Co. 32.55 (1.1) 954.2 9.2
Source: Bloomberg (* in QR)
Market Indicators 12 Mar 14 11 Mar 14 %Chg.
Value Traded (QR mn) 807.5 654.3 23.4
Exch. Market Cap. (QR mn) 641,456.6 652,397.1 (1.7)
Volume (mn) 15.7 15.6 0.7
Number of Transactions 8,991 10,513 (14.5)
Companies Traded 39 39 0.0
Market Breadth 10:29 12:23 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,713.78 (1.2) (1.2) 12.7 N/A
All Share Index 2,889.91 (1.4) (1.7) 11.7 14.5
Banks 2,768.02 (1.8) (2.9) 13.3 14.3
Industrials 3,959.67 (1.0) (0.2) 13.1 15.1
Transportation 1,999.10 (0.4) (0.9) 7.6 13.9
Real Estate 2,041.00 (0.9) 1.5 4.5 20.2
Insurance 2,735.94 (1.7) (3.2) 17.1 6.6
Telecoms 1,495.36 (0.4) 0.1 2.9 20.6
Consumer 6,708.37 (3.3) (4.5) 12.8 29.2
Al Rayan Islamic Index 3,419.77 (0.5) 1.4 12.6 18.7
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Arab Bank Abu Dhabi 8.49 14.9 75.0 51.3
Bank Albilad Saudi Arabia 43.70 9.5 3,542.6 24.9
Nat. Marine Dredging Abu Dhabi 9.20 5.7 7.4 7.0
MedGulf Saudi Arabia 35.10 4.8 2,733.7 0.6
Mannai Corp Qatar 106.00 3.9 0.1 17.9
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Deyaar Development Dubai 1.13 (9.6) 54,865.0 11.9
Dubai Financial Market Dubai 2.80 (6.7) 23,332.1 13.4
Abu Dhabi Com. Bank Abu Dhabi 6.70 (6.6) 927.5 3.1
Sharjah Islamic Bank Abu Dhabi 2.09 (6.3) 1,012.4 35.7
Drake & Scull Int. Dubai 1.52 (5.0) 22,841.4 5.6
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)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar International Islamic Bank 73.50 (4.9) 241.0 19.1
Qatar General Ins. & Reins. Co. 46.50 (4.9) 2,538.6 (2.9)
Qatar Fuel Co. 239.90 (4.3) 265.6 9.8
Zad Holding Co. 67.30 (3.9) 1.0 (3.2)
Dlala' Brokerage & Inv. Holding 22.50 (3.4) 205.0 1.8
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Qatari Investors Group 51.10 3.7 158,886.7 16.9
Qatar General Ins. & Reins. Co. 46.50 (4.9) 124,341.4 (2.9)
Mesaieed Petrochemical Holding 39.40 (1.6) 69,029.6 294
Qatar Fuel Co. 239.90 (4.3) 64,331.4 9.8
Industries Qatar 178.00 (2.2) 50,920.3 5.4
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 11,349.17 (1.4) (2.2) (3.6) 9.3 187.88 176,144.0 15.0 1.9 4.6
Dubai 3,935.79 (3.8) (5.2) (6.7) 16.8 350.67 80,766.9 16.9 1.5 2.4
Abu Dhabi 4,650.17 (2.8) (5.0) (6.2) 8.4 119.49 126,276.7 13.3 1.6 3.7
Saudi Arabia 9,351.11 (0.0) 1.1 2.7 9.6 2,340.22 507,567.0 18.7 2.3 3.2
Kuwait 7,503.61 (0.2) (0.1) (2.5) (0.6) 42.65 109,817.3 15.7 1.2 3.7
Oman 7,069.15 (0.1) (0.7) (0.6) 3.4 14.37 25,449.7 11.2 1.6 3.7
Bahrain 1,374.61 (0.9) 0.1 0.1 10.1 2.85 51,782.7 9.8 0.9 3.9
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
11,300
11,400
11,500
11,600
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 QE index declined 1.4% to close at 11,349.2. The
Consumer Goods & Services and Banks & Financial Services
indices led the losses. The index fell on the back of selling
pressure from Qatari shareholders despite buying support from
non-Qatari shareholders.
Qatar International Islamic Bank and Qatar General Ins. & Reins.
Co. were the top losers, falling 4.9% each. Among the top
gainers, Mannai Corp rose 3.9%, while Qatari Investors Group
rose 3.7%.
Volume of shares traded on Wednesday rose by 0.7% to 15.7mn
from 15.6mn on Tuesday. Further, as compared to the 30-day
moving average of 13.2mn, volume for the day was 19.3%
higher. Qatari Investors Group and Qatar General Ins. & Reins.
Co. were the most active stocks, contributing 18.9% and 16.1%
to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Global Economic Data
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
03/12 US MBA MBA Mortgage Applications 7-March -2.10% – 9.40%
03/12 EU Eurostat Industrial Production SA MoM January -0.20% 0.50% -0.40%
03/12 EU Eurostat Industrial Production WDA YoY January 2.10% 1.90% 1.20%
03/12 France INSEE Non-Farm Payrolls QoQ 4Q2013 0.10% 0.10% 0.10%
03/12 Spain INE CPI EU Harmonised MoM February -0.10% -0.20% -1.80%
03/12 Spain INE CPI EU Harmonised YoY February 0.10% 0.00% 0.00%
03/12 Spain INE CPI Core MoM February 0.00% – -1.70%
03/12 Spain INE CPI Core YoY February 0.10% 0.10% 0.20%
03/12 Spain INE CPI MoM February 0.00% -0.10% -1.30%
03/12 Spain INE CPI YoY February 0.00% -0.10% -0.10%
03/12 Japan METI Tertiary Industry Index MoM January 0.90% 0.60% -0.50%
03/12 Japan Ministry of Finance BSI Large All Industry QoQ 1Q2014 12.7 – 8.3
03/12 Japan Ministry of Finance BSI Large Manufacturing QoQ 1Q2014 12.5 – 9.7
03/12 Japan ESRI Consumer Confidence Index February 38.3 40.0 40.5
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
MEED: Qatar’s projects market sees upswing – Qatar‟s
investments in various projects in the energy and infrastructure
sectors have seen a remarkable boost over the last six months,
with a host of new developments being announced and existing
projects moving forward. MEED said under the new leadership
of HH the Emir Sheikh Tamim bin Hamad al-Thani, momentum
in Qatar‟s projects market has seen an upswing with a wide
range of developmental projects announced. This includes
$13bn in petrochemical schemes, intensification in upstream
operations, extension of life of its mature oil fields, and
infrastructure project opportunities worth $40bn such as roads,
ports and rail work, as well as $19bn construction projects, and
$3.2bn of social infrastructure projects. (Gulf-Times.com)
BRES posts QR1.37bn in net profit – Barwa Real Estate
Company (BRES) has posted a net profit of QR1.37bn in 2013
versus QR1.14bn in 2012. The EPS amounted to QR3.53 for
2013 compared to QR2.92 in 2012. The Board of Directors
recommended distribution of cash dividend of QR2.00 per share
vs. QR1.50 with the 2012 results. (QE)
Muntajat, Milaha signs 2-year transport contract – Qatar
Chemical and Petrochemical Marketing & Distribution Company
(Muntajat) signed a two-year agreement with Qatar Navigation
(Milaha) to transport petrochemicals shipments from Qatar. The
agreement covers containerized exports of polymers and
melamine from Mesaieed to key hub ports in the region. The
total annual volume of exports is expected to reach around
150,000 TEU (twenty foot equivalent units). (Peninsula Qatar)
Qatari Diar to open US office to explore investments –
Qatari Diar Real Estate Investment Company will open a
regional office in Washington DC later in 2014 to pursue new
strategic investments throughout the western hemisphere.
Qatari Diar‟s Group CEO Khaled Mohamed al-Sayed said that
the company‟s new regional base will manage existing projects
and explore other strategic investments within the North
American region. (Gulf-Times.com)
DOHI looks to expand in GCC market – Doha Insurance
Company (DOHI) is seeking to expand its footprints beyond
Qatar, especially in GCC countries. DOHI has already
announced its plan to raise capital via a rights issue, which will
help in its expansion plans. (Peninsula Qatar)
QIIK’s AGM approves QR3.75 cash dividend – Qatar
International Islamic Bank‟s (QIIK) AGM has approved the board
of directors‟ recommendation for QR3.75 cash dividend. (QE)
GISS approves 20% cash dividend, 25% bonus shares –
Gulf International Services‟ (GISS) AGM has approved the
Overall Activity Buy %* Sell %* Net (QR)
Qatari 73.37% 73.84% (3,785,583.25)
Non-Qatari 26.62% 26.15% 3,785,583.25
3. Page 3 of 5
board‟s recommendation for 20% cash dividend, representing
QR2.00 per share and 25% bonus shares for 2013. (QE)
QIGD appoints Chairman, Vice Chairman – The Qatari
Investors Group (QIGD) has appointed Abdullah Bin Nasser Al
Misnad as the company‟s Chairman and Sheikh Hamad Bin
Faisal Al Thani as the Vice Chairman for the 2014-2016 period.
(QE)
QA launches four weekly flights to Cyprus – Qatar Airways
will launch four weekly flights to Cyprus from 29 April 2014 as
part of a recent agreement for strengthening air transport
between Cyprus and Qatar. (Bloomberg)
Qatargas loads 2,000th LNG cargo from Ras Laffan –
Qatargas recently loaded the 2,000th LNG cargo from the
Common Lean LNG Storage & Loading Asset facility at Ras
Laffan. This milestone was achieved in less than five years
since the first loading from the facility. (Gulf-Times.com)
Qatar to benefit from two major Internet projects – Two huge
internet cable projects, one submarine and one terrestrial, have
been kicked off recently, which are expected to increase
broadband capacity for the Gulf region (including Qatar). The
first project is the new Southeast Asia-Middle East-Western
Europe 5 (SEA-ME-WE 5), a 20,000-kilometer cable that will
connect Asia, Africa and Europe. The Middle-East Europe
Terrestrial System (MEETS) will start in 1Q2014, covering a
consortium of providers such as Vodafone Qatar, Zain, Zajil, and
du Telecom. (Gulf-Times.com)
International
US surprises oil market with sale from strategic reserves –
The United States will hold the first test sale of crude oil from its
emergency oil stockpile held since 1990, offering a modest 5mn
barrels in what some observers saw as a subtle message to oil
exporter, Russia. The US Energy Department said the test sale
had been planned for months, which has been timed to meet
demand from refiners coming out of annual maintenance cycles.
However, oil traders noted that Russia's effort to take over the
Crimea region from Ukraine has prompted calls for use of
booming US energy resources to relieve Europe‟s dependence
on Russian natural gas. Oil prices dipped to their lowest levels in
a month after news of the test sale, which closes in two days.
US Officials said the release would ensure that oil stored in vast
salt caverns could still reach local refiners affected by recent
changes in pipeline infrastructure. (Reuters)
Reuters: British economy set to grow fastest among G7 –
Britain's economy will grow faster than any other G7 nation in
coming quarters, but the Bank of England (BoE) will not raise
interest rates until next year to avoid choking off the recovery. A
Reuters poll of over 50 economists suggested that Britain's GDP
will grow 0.6% every quarter through to September 2015. Based
on these forecasts, Britain's economy is set to reach its pre-
crisis level by the end of June and be the fastest growing among
the group of seven (G7) major industrialized nations. Britain's
economy will expand 2.7% this year and 2.4% in 2015 and
2016, similar to forecasts made by the Organization for
Economic Cooperation & Development (OECD). The Eurozone
economy, Britain's main trading partner, is expected to grow by
just 1.1% this year and 1.4% in 2015, with any deterioration in
that growth becoming a key risk for Britain's growth. (Reuters)
Germany sees balanced budget from 2015 – German
Finance Minister Wolfgang Schaeuble unveiled plans to achieve
a consistently balanced budget from 2015, the first time that the
country will be spending less than its revenue intake since 1969.
Schaeuble stated that the government wants to go out of this
legislative period without any new budgetary debt. Germany will
run up only a small public deficit of €6.5bn in 2014 – its smallest
in 40 years – down from €22.1bn in 2013. However, Schaeuble
said the country‟s budget will be balanced from next year at
least until 2018 without taking any debt. (ET)
OPEC raises 2014 global oil demand view – OPEC said the
global oil demand will increase more than expected in 2014,
raising its prediction for a second straight month as economic
growth picks up in Europe and the US. The OPEC‟s view on oil
demand growth is in contrast with that of the US, which has cut
its forecast. In a monthly report, the OPEC stated that global
demand will rise by 1.14mn bpd this year, up 50,000 bpd from
its previous forecast. The group also raised its projection for
global demand for OPEC's crude in 2014. The OPEC cited
further signs of strong oil demand in the world's top consumer,
the US, as well as a stabilizing rate of demand contraction in
Europe – where oil consumption has been held back for years
by weak economies. (Reuters)
Italy presents sweeping tax cuts, plans to raise deficit goal
– Italian Prime Minister Matteo Renzi presented a sweeping
package of tax cuts, saying they can help in reviving the
Eurozone's third largest economy without breaking the EU
budget deficit limits. Renzi said income tax would be reduced by
a total of €10bn annually for 10mn low and middle income
workers from May 1. He further added that the cuts will be
financed by reductions in the central government spending,
extra borrowing and by resources freed up thanks to the recent
fall in Italy's borrowing costs. (Reuters)
Regional
Saudi Arabia poised for S&P upgrade – Saudi Arabia is
poised for a sovereign upgrade from Standard & Poor‟s (S&P)
as central bank reserves of OPEC‟s biggest member swelled the
most in the last five years, according to some financial
institutions, such as, Credit Agricole Private Banking,
Commerzbank and Riyadh-based MASIC. Credit default swaps
for Saudi Arabia, rated AA- at S&P, stood at 63 basis points on
March 11. The dollar-denominated debt from Saudi Electricity
Company to Saudi Basic Industries Corp. rose after Fitch
Ratings upgraded the country on March 7. The central bank‟s
total reserves including cash and gold swelled to $720bn at the
end of January. (Bloomberg)
Samba arranges SAR7.2bn financing for Saudia – Samba
Financial Group, along with a consortium of banks, has provided
Shari‟ah-compliant financing facilities worth SR7.2bn to the
Saudi Arabian Airlines (Saudia). The transaction enabled Saudia
to purchase 26 aircraft of different types, which were added to
its international fleet and raised its capacity to meet its
expansion plans. The financing package provides Saudia the
financial flexibility to boost its fleet strength, thereby empowering
it to strengthen its presence within the growing commercial
aviation sector in the region. (Bloomberg, Zawya)
GE Power Conversion to supply components to SEC – GE
Power Conversion will supply efficient and flexible components
for the Saudi Electricity Company (SEC), in a contract worth
$23mn. GE will be supplying twenty-four 18MW MV7000
variable speed drives to SEC‟s Jeddah South and Shuqaiq
steam power plants. Each project consists of four 660-MW
power blocks, which are considered to be the world‟s largest
steam power plants. Hyundai Heavy Industries has been
awarded the overall contract. (GulfBase.com)
APC signs SR3,375mn contract with SK Gas – The Advanced
Petrochemical Company (APC) has signed a MoU with SK Gas
Company for setting up a state-of-the-art propane
dehydrogenation plant in South Korea. The project cost is
4. Page 4 of 5
estimated to be around SR3,375mn. APC or its subsidiary,
Advanced Global Investment Company, will hold a minimum of
25% equity stake in the plant. The plant is scheduled to begin
operation in 1Q2016, with a design capacity of 600,000 metric
tons of propylene per year. The MoU will become effective from
March 12, 2014. (Tawadul)
Al Basel Group launches investment arm – The Al Basel
Group of Companies has launched its investment arm named
„Amani Investments‟. The new company will offer financial and
investment solutions for both companies and individuals in the
UAE, Saudi Arabia and Qatar. Amani will serve mid-range and
high-end clients by offering to manage their savings and assets
portfolio as well as providing turnkey advice on investments in
real estate and stocks. (GulfBase.com)
Aviation plays key role in UAE-US trade – According to the
US-UAE Business Council, trade between the US and the UAE
reached $26.9bn in 2013, with commercial aviation partnerships
playing a central role. Transportation equipment worth $9.4bn,
including Boeing aircraft and GE engines, were the largest
subset, making up for 38% of the total US exports to the UAE in
2013. (GulfBase.com)
DEWA invests AED52bn in energy-efficiency projects –
DEWA‟s Managing Director & Chief Executive, Saeed
Mohammed Al Tayer, said that the authority has planned an
estimated investment of AED52bn in energy-efficiency projects.
The authority is building electricity and water distribution
networks at a total investment of AED7bn to support its demand
side management. (GulfBase.com)
NBAD raises $358mn with second Kangaroo bond – National
Bank of Abu Dhabi (NBAD) raised $358mn from its second
Kangaroo bond sale, paying half a percentage point less for a
five-year debt than what it did a year ago. According to ANZ
Banking Group, the bonds which will mature in March 2019,
were priced to yield 125 basis points more than the swap rate.
According to ANZ prices, the lender‟s inaugural Kangaroo bond
in February last year was priced at a spread of 175 basis points.
The gap for those notes narrowed to 109 basis points as of
today. (Bloomberg)
DIC, DOZ add 181 firms in 2013 – Dubai Internet City (DIC)
and Dubai Outsource Zone (DOZ) have added 181 new
companies in 2013. DIC and DOZ are part of Tecom
Investments, a member of Dubai Holding. There are 1,600
business partners including over 60% of the Fortune 500
companies in the sector covering software, hardware and
internet services including Microsoft, Oracle, Dell, Facebook
Hewlett Packard, DELL and IBM ME, as well as leading global
multinational companies and local SMEs. The number of
Fortune 500 companies based in DIC largely increased their
presence over the course of 2013. (GulfBase.com)
ADSB’s BoD recommends 10% cash dividend – Abu Dhabi
Ship Building Company‟s (ADSB) board of directors has
recommended the distribution of 10% cash dividend for 2013.
(ADX)
Sharjah Islamic declares AED242.6mn cash dividend –
Sharjah Islamic Bank‟s (SIB) AGM has approved the distribution
of 10% cash dividend amounting to AED242.6mn for 2013.
(GulfBase.com)
Gulf Mushroom declares 20% bonus shares – The Gulf
Mushroom Products Company‟s AGM has approved its board of
directors‟ recommendation for 20% bonus shares (2 bonus
shares for every 10 shares). With this, the company‟s shares will
increase from 22,651,200 to 27,181,440. (GulfBase.com)
NPI declares 16% cash dividend – National Pharmaceutical
Industries Company‟s (NPI) AGM has approved its board‟s
proposal to distribute 16% cash dividend (OMR0.016 baiza per
share) for 2013. (MSM)
BBK declares 10% cash dividend, 10% bonus shares – The
Bank of Bahrain & Kuwait‟s (BBK) AGM has approved the
distribution of 10% cash dividend, amounting to 10 fils per share
and 10% bonus shares to the shareholders. (Bahrain Bourse)
5. 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
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Page 5 of 5
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
160.0
170.0
180.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
(0.0%)
(1.4%)
(0.2%)
(0.9%)
(0.1%)
(2.8%)
(3.8%)(4.2%)
(3.6%)
(3.0%)
(2.4%)
(1.8%)
(1.2%)
(0.6%)
0.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,366.83 1.3 2.0 13.4 DJ Industrial 16,340.08 (0.1) (0.7) (1.4)
Silver/Ounce 21.30 2.2 1.9 9.4 S&P 500 1,868.20 0.0 (0.5) 1.1
Crude Oil (Brent)/Barrel (FM
Future)
108.02 (0.5) (0.9) (2.5) NASDAQ 100 4,323.33 0.4 (0.3) 3.5
Natural Gas (Henry
Hub)/MMBtu
4.66 0.1 (2.4) 7.3 STOXX 600 327.95 (1.1) (1.5) (0.1)
North American Spot LPG
Propane Price
109.00 (0.5) 0.5 (13.8) DAX 9,188.69 (1.3) (1.7) (3.8)
North American Spot LPG
Normal Butane Price
120.75 0.2 (0.2) (11.0) FTSE 100 6,620.90 (1.0) (1.4) (1.9)
Euro 1.39 0.3 0.2 1.2 CAC 40 4,306.26 (1.0) (1.4) 0.2
Yen 102.76 (0.3) (0.5) (2.4) Nikkei 14,830.39 (2.6) (2.9) (9.0)
GBP 1.66 0.0 (0.6) 0.4 MSCI EM 944.63 (1.2) (2.3) (5.8)
CHF 1.14 0.5 0.5 2.2 SHANGHAI SE Composite 1,997.69 (0.2) (2.9) (5.6)
AUD 0.90 0.1 (0.9) 0.8 HANG SENG 21,901.95 (1.7) (3.3) (6.0)
USD Index 79.61 (0.2) (0.1) (0.5) BSE SENSEX 21,856.22 0.1 (0.3) 3.2
RUB 36.50 (0.0) 0.2 11.1 Bovespa 45,861.81 0.4 (0.8) (11.0)
BRL 0.42 0.3 (0.7) 0.3 RTS 1,098.69 (2.9) (5.2) (23.8)
163.1
144.4
131.8