1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.4% to close at 12,225.2. Losses were led by the
Transportation and Banking & Fin. Services indices, declining 2.0% and 1.6%
respectively. Top losers were Gulf Warehousing Co. and Qatar International
Islamic Bank, falling 5.2% and 4.3% respectively. Among the top gainers,
Aamal Co. and Ezdan Holding Group rose 10.0% and 9.9% respectively.
GCC Commentary
Saudi Arabia: The TASI index fell 0.9% to close at 9,425.0. Losses were led
by the Bank. & Fin. Ser. and Hotel & Tou., falling 1.7% and 1.2% respectively.
Wafrah for Ind. & Dev. fell 9.8%, while Saudi Fisheries Co. was down 5.7%.
Dubai: The DFM index declined 1.7% to close at 4,759.2. The Real Estate &
Cons. index fell 2.0%, while the Inv. & Fin. Serv. Index was down 1.6%. Dubai
Nat. Ins. & Reins.declined 8.6%, while Dubai Islamic Bank was down 2.9%.
Abu Dhabi: The ADX benchmark index fell 0.2% to close at 5,162.9. The
Consumer index declined 1.8%, while the Banking index was down 1.2%. Nat.
Takaful Co. fell 9.0%, while Nat. Bank of Umm Al-Qaiwain was down 4.6%.
Kuwait: The KSE index fell 0.2% to close at 7,560.2. The Telecom. index
declined 1.4%, while the Consumer Goods index was down 0.8%. Kuwait
Building Materials Manu. fell 14.7%, while Palms Agro Prod. was down7.3%.
Oman: The MSM index gained 0.2% to close at 6,821.0. Gains were led by
the Financial and Services indices, rising 0.3% and 0.2% respectively.
Packaging Co. gained 28.7%, while Bank Muscat was up 1.9%.
Bahrain: The BHB index declined 0.1% to close at 1,380.4. The Commercial
Banking and the Services Indices fell 0.2% each. Seef Properties Co. declined
1.7%, while Nass Corporation was down 1.1%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Aamal Co. 18.44 10.0 250.3 22.9
Ezdan Holding Group 27.70 9.9 123.6 62.9
Qatar General Ins. & Reins. Co. 44.85 9.4 31.1 12.3
Qatar & Oman Investment Co. 14.41 6.7 5,724.4 15.1
Qatar Islamic Insurance 72.60 4.5 573.3 25.4
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 21.65 (1.6) 5,770.2 93.6
Qatar & Oman Investment Co. 14.41 6.7 5,724.4 15.1
National Leasing 33.00 0.3 2,518.0 9.5
Salam International Investment Co. 13.50 1.6 2,417.0 3.8
United Development Co. 22.20 (0.9) 1,532.4 3.1
Market Indicators 13 Apr 14 10 Apr 14 %Chg.
Value Traded (QR mn) 925.6 1,429.4 (35.2)
Exch. Market Cap. (QR mn) 709,220.8 709,196.8 0.0
Volume (mn) 29.3 39.1 (25.0)
Number of Transactions 11,982 16,340 (26.7)
Companies Traded 42 42 0.0
Market Breadth 12:26 27:14 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,230.39 (1.4) (1.4) 22.9 N/A
All Share Index 3,168.67 (0.9) (0.9) 22.5 15.3
Banks 2,992.79 (1.6) (1.6) 22.5 14.9
Industrials 4,298.65 (0.2) (0.2) 22.8 16.1
Transportation 2,193.18 (2.0) (2.0) 18.0 14.5
Real Estate 2,450.44 (0.9) (0.9) 25.5 15.7
Insurance 3,172.32 0.4 0.4 35.8 8.4
Telecoms 1,652.51 0.1 0.1 13.7 23.4
Consumer 7,521.68 (0.1) (0.1) 26.5 30.6
Al Rayan Islamic Index 3,962.56 (1.1) (1.1) 30.5 18.2
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Aamal Co Qatar 18.44 10.0 250.3 22.9
Ezdan Holding Group Qatar 27.7 9.9 123.6 62.9
Qatar Gen Ins.& Reins. Qatar 44.85 9.4 31.1 12.3
Nat. Marine Dred. Co. Abu Dhabi 8.40 7.7 1.5 (2.3)
Boubyan Bank Kuwait 0.53 6.0 2438.5 1.3
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Saudi Fisheries Saudi Arabia 37.96 (5.8) 5755.7 22.8
Gulf Warehousing Co. Qatar 60.00 (5.2) 150.2 44.6
Methanol Chem. Co. Saudi Arabia 16.55 (4.9) 5207.1 8.5
NBQ Abu Dhabi 3.15 (4.5) 200.0 (4.5)
Qatar Int. Islamic Bank Qatar 79.9 (4.3) 272.3 29.5
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%
Gulf Warehousing Co. 60.00 (5.2) 150.2 44.6
Qatar International Islamic Bank 79.90 (4.3) 272.3 29.5
Commercial Bank of Qatar 67.20 (3.6) 421.5 13.9
Islamic Holding Group 64.50 (2.3) 167.4 40.2
Qatar Navigation 95.00 (2.1) 9.5 14.5
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 21.65 (1.6) 127,837.5 93.6
National Leasing 33.00 0.3 83,763.7 9.5
Qatar & Oman Investment Co. 14.41 6.7 82,199.4 15.1
Masraf Al Rayan 43.30 (1.1) 54,988.1 38.3
QNB Group 192.50 (1.7) 49,307.9 11.9
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* 12,225.19 (1.4) (1.4) 5.0 17.8 254.17 194,752.0 15.5 2.0 4.1
Dubai 4,759.15 (1.7) (1.7) 6.9 41.2 515.10 94,992.1 20.4 1.8 2.1
Abu Dhabi 5,162.92 (0.2) (0.2) 5.5 20.3 350.76 135,639.4 15.6 1.9 3.5
Saudi Arabia 9,424.95 (0.9) (0.9) (0.5) 10.4 2,443.59 512,657.3 19.3 2.4 3.1
Kuwait 7,560.22 (0.2) (0.2) (0.2) 0.1 94.69 117,412.9 17.2 1.2 3.9
Oman 6,821.04 0.2 0.2 (0.5) (0.2) 24.86 24,581.1 11.3 1.6 3.9
Bahrain 1,380.42 (0.1) (0.1) 1.7 10.5 0.44 52,724.9 9.7 0.9 5.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any;)
12,200
12,250
12,300
12,350
12,400
12,450
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 12,225.2. The
Transportation and Banking & Fin. Services indices led the
losses. The index fell on the back of selling pressure from Qatari
shareholders despite buying support from non-Qatari
shareholders.
 Gulf Warehousing Co. and Qatar International Islamic Bank were
the top losers, falling 5.2% and 4.3% respectively. Among the
top gainers, Aamal Co. and Ezdan Holding Group rose 10.0%
and 9.9% respectively.
 Volume of shares traded on Sunday fell by 25.0% to 29.3mn
from 39.1mn on Thursday. However, as compared to the 30-day
moving average of 19.8mn, volume for the day was 48.0%
higher. Mazaya Qatar Real Estate Dev. and Qatar & Oman
Investment Co. were the most active stocks, contributing 19.7%
and 19.5% to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Earnings
Earnings Releases
Company Market Currency
Revenue
(mn)1Q2014
% Change
YoY
Operating Profit
(mn) 1Q2014
% Change
YoY
Net Profit (mn)
1Q2014
% Change
YoY
Saudi Industrial Export Co.
(SIEC)
Saudi SR – – 2.2 -24.1% 1.7 -37.0%
Saudi Arabian Fertilizer Co.
(SAFCO)
Saudi SR – – 797.0 -4.0% 843.0 -9.5%
Saudi Chemical Co. (SCC) Saudi SR – – 102.9 29.1% 91.0 3.0%
Taiba Holding Co. Saudi SR – – 58.9 7.3% 59.5 -18.6%
Saudi Ceramic Co. (SCC) Saudi SR – – 88.5 -2.8% 87.4 6.3%
Shuaa Capital Dubai AED 64.0 77.8% – – 8.2 NA
Al Anwar Ceramic Tiles Co.
(AACT)
Oman OMR 7.2 0.1% – – 2.2 0.8%
National Hotels Co.
(NHOTEL)
Bahrain BHD 1.9 -15.3% 0.9 -23.3% 0.7 -27.5%
Source: Company data, DFM, ADX, MSM
News
Qatar
 QE amends foreign ownership limit for CBQK – The Qatar
Exchange has announced that the ownership limit of non-Qatari
investors for the Commercial Bank of Qatar (CBQK) would be
25% with effect from April 13, 2014. (QE)
 ETFs to debut on QE, to boost liquidity – According to
sources, exchange traded funds (ETFs) are set to make their
debut next week (April 23) on the Qatar Exchange (QE) as the
bourse enters the MSCI „emerging‟ market grouping by June. As
part of QE‟s measures to enhance liquidity in the market, foreign
debt-based and general index-based ETFs are set to be
launched initially, which will be followed by Islamic-index based
ETFs by the end of summer. (Gulf-Times.com)
 MERS to publish 1Q2014 financials on April 22 – Al Meera
Consumer Goods Company (MERS) will publish its 1Q2014
financial results on April 22, 2014. (QE)
 MCGS to disclose 1Q2014 results on April 23 – Medicare
Group (MCGS) will disclose its 1Q2014 financial results on April
23, 2014. (QE)
 UDCD to disclose 1Q2014 results on April 27 – The United
Development Company (UDCD) to disclose its 1Q2014 financial
results on April 27, 2014. (QE)
 QNCD convenes BoD meet on April 13 – Qatar National
Cement Company‟s (QNCD) board of directors held a meeting
on April 13, 2014 to decide about contracting for the
construction of cement plant no 5. We await more details, as of
now we have incorporated 5,000 tpd of expansion in our model
leading to a 12-month target price of QR137.28. (QE, QNBFS)
 QA to launch 7th Saudi route from May 15 – Qatar Airways
(QA) has announced that it will add Al Hofuf in Saudi Arabia to
its network with four weekly flights from May 15, 2014. QA has
further doubled its weekly flight frequency to Gassim, while
flights to Madinah have been increased from five to seven per
week. With this, QA will now fly to seven Saudi destinations with
79 flights per week. (Bloomberg)
 Bayt survey shows positive economic outlook in Qatar –
According to a survey by Bayt.com, close to half of Qatar‟s
population believes that the country‟s economy has improved in
the last six months. The survey added that while 51% of Qatar
respondents share a positive sentiment about their personal
financial position improving over the next six months, 70%
expect the cost of living to increase. In Qatar, 30% claim their
financial position has improved in the last six months, while 32%
claim that there has been no change and 31% reported a
decline. Almost half of the respondents (45%) claim that their
savings have decreased as compared to 12 months ago.
However, the outlook is positive with 51% anticipating their
financial situation to improve over the next six months, despite
the expected increase in cost of living within the same period.
(Gulf-Times.com)
 VFQS appoints senior executives – Vodafone Qatar (VFQS)
has appointed Mahmud Awad as the Chief Business Officer and
Ramy Reyad as the Chief Technology Officer. Awad has 18
years of telecom experience, and joins Vodafone Qatar from du
Telecom where he was the Vice President of Corporate Sales.
Awad has also held executive positions with Neoris, Al Wataniya
Telecom and Nokia Siemens Networks. Meanwhile, Reyad has
over 15 years of experience in the telecom sector and joins
Overall Activity Buy %* Sell %* Net (QR)
Qatari 67.79% 72.92% (47,439,038.18)
Non-Qatari 32.22% 27.09% 47,439,038.18

3. Page 3 of 5
VFQS from Mobilink, where he was the Chief Technology
Officer. (Gulf-Times.com)
International
 Euro slides against most peers as Draghi warns of ECB
stimulus – The Eurozone‟s currency has weakened against
most of its 16 major peers after the European Central Bank‟s
President Mario Draghi said its strength requires further
monetary stimulus. The shared currency snapped a gain versus
the US dollar from last week that was the most in six months as
Draghi‟s rhetoric about the euro‟s rise was echoed by other
European policy makers, boosting speculation they will consider
measures to support growth and spur inflation. The dollar gained
against most peers before a report that may show retail sales
gained last month by the most in 1 1/2 years. Draghi reiterated
that the currency does come into ECB‟s views on monetary
policy and it does naturally act as a handbrake on inflation. The
Euro fell 0.3% to $1.385 after climbing 1.3% last week, the
biggest gain since September 20, 2013. (Bloomberg)
 Growth pickup may help France meet deficit targets –
France‟s Finance Minister Michel Sapin said the French
economy may grow faster than projected this year, helping the
government to meet European Union budget-deficit targets.
Sapin said in 2014, the economy will do slightly better than the
0.9% growth forecast by the government. President Francois
Hollande‟s new government is seeking to regain economic
credibility after his Socialist Party suffered a crushing defeat in
the recent municipal elections. Sapin‟s remarks indicate that
officials are looking for ways to stimulate growth while meeting
budget pledges that Hollande put in doubt last month. France‟s
deficit amounted to 4.3% of GDP in 2013. To adhere to the EU
economic rules, Hollande had promised to trim the shortfall to
3.6% in 2014 and 3% in 2015. (Bloomberg)
 Bloomberg: Price surge could harm public confidence on
Abenomics – Japanese Prime Minister Shinzo Abe‟s efforts to
vault the country out of 15 years of deflation risk losing public
support by spurring too much inflation too quickly as companies
add extra price increases to this month‟s sales-tax hike.
Businesses have raised costs more than the 3% point levy
increase. This month‟s inflation rate could be 3.5%, the fastest
since 1982. The challenge for Abe and the Bank of Japan is to
keep the public focused on the long-term benefits of exiting
deflation when wages are yet to pick up. Any jump in inflation
that is perceived as excessive by a population more used to
prices falling could worsen consumer confidence and make it
harder to boost growth. (Bloomberg)
Regional
 MEED: GCC new contract awards to approach $150bn in
2014 – According to a report released by MEED, new contract
awards in the GCC region are set to approach $150bn in 2014,
rising over about $135bn in the previous 12 months. The
projects boom encompasses all the six GCC markets and
extends across all sectors. MEED said that with more than
$40bn worth of new contracts awarded in the six-nation GCC
alone in 1Q2014, the projects market in the Middle East is set to
enjoy a record-breaking in 2014. Among the high-profile projects
that have been awarded include: the $12bn Kuwait National
Petroleum Company‟s Clean Fuels Project; $3bn worth of
projects awarded by Qatar‟s Ashgal for the Expressway and
LRDP schemes; Abu Dhabi Musanada‟s $1bn worth of contracts
for the Mafraq-Ghuweifat Road Development Project; Qatar
Rail‟s $700mn worth of contracts for the elevated section of the
Doha Metro‟s Red Line South project; and $705mn awarded by
the Al Reem Island (UAE). Figures compiled by MEED Projects
show that a total of almost $2.5tn worth of contracts have been
planned or under way in the GCC. (Gulf-Times.com)
 Saudia to invest $476.7mn for cargo expansion – The Saudi
Arabian Airlines (Saudia) is planning to pump in $476.7mn over
the next 5-7 years to boost its cargo handling facilities. About
$26.7mn will be injected into Saudia Cargo for investing in its
ground facilities over the next 12 months, while $450mn will be
spent on its hubs at Riyadh, Jeddah and Dammam over 5-7
years. (GulfBase.com)
 Chemanol to shutdown Methanol plant from April 14 – The
Methanol Chemicals Company (Chemanol) announced that will
begin the non-scheduled shutdown of its Methanol plant for a
period of 15 days, from April 14, 2014. The non-scheduled
maintenance activity will be carried out for inspecting the valve
trays of the distillation column to improve the production
efficiency of the plant. Such activity will result in the shutdown of
the Dimethylformamide unit, which mainly uses the carbon
monoxide produced by the Methanol plant. (Tadawul)
 SCPMA approves Bahri’s merger – The Supreme Council for
Petroleum & Mineral Affairs (SCPMA) has approved the merger
of Vela‟s fleet and operations with the National Shipping
Company of Saudi Arabia (Bahri). (Tadawul)
 Saudi CMA approves Bank Al Jazira’s capital increase – The
Saudi CMA board has approved the Bank Al Jazira‟s request to
increase its capital from SR3bn to SR4bn by issuing one bonus
share for every three existing shares. This increase will be paid
by transferring SR500mn from the statutory reserve account and
SR500mn from retained earnings account to the bank‟s capital.
Consequently, the bank's outstanding shares will increase from
300mn to 400mn shares. The bonus shares‟ eligibility is limited
to those shareholders who are registered at the close of trading
on the day of the extraordinary general assembly, which will be
determined later. (Tadawul)
 Saudi CMA approves Jadwa’s capital increase – The Saudi
CMA board has approved the Jadwa Investment Company‟s
request to increase its capital from SR568.5mn to SR852.7mn
by capitalizing a part of its retained earnings. (Tadawul)
 Al Rajhi Bank’s 1Q2014 profit slips by 16.9% – Al Rajhi Bank
has reported a net profit of SR1.71bn in 1Q2014 as compared to
SR2.05bn in 1Q2013, reflecting 16.9% decline. The bank‟s total
assets stood at SR288bn at the end of 1Q2014 as compared to
SR275bn a year ago. Loans & advances grew by 7% to
SR193bn in 1Q2014 from SR180bn in 1Q2013, while customer
deposits grew by 2.9% to reach SR238.6bn from SR231.8bn.
EPS amounted to SR1.14. (Tadawul)
 UAE to issue new law to support SME sector – The UAE
Minister of Economy & Foreign Trade Sultan Al-Mansouri said
the UAE will issue a new law to promote the growth of SMEs. Al-
Mansouri said the new law will require the federal government
agencies to contract with local SMEs for not less than 10% of
the total contracts that meet their purchasing, service and
consulting needs. Al-Mansouri added that as a further incentive
for local SMEs, government-related entities, where the state
owns more than 25% of the capital, will have to grant 5% of their
contract volumes to SMEs. Further, SMEs will also be exempted
from bank guarantees that companies have to pay for each new
worker. The government will also be committed to sponsor and
organize local, specialized exhibitions for SMEs to promote their
products. (Bloomberg)
 Dubai airport to cut 26% flights during runway resurfacing
work – Airlines flying into Dubai are preparing for diversions and
schedule changes as the emirate's main airport plans to reduce
the number of flights it handles during construction work on its

4. Page 4 of 5
runways. Dubai's Airports Authority said that the Dubai
International Airport, which handled 66.4mn passengers in 2013,
will cut flights by 26% for an 80-day period. The cut-back will
occur between May 1 and July 20 as both the runways will be
closed one after the other for resurfacing and other construction
work. (Reuters)
 Dubai property deals surge to AED60bn in 1Q2014 –
According to the Land Department, property deals in Dubai have
surged by 38% to top AED60bn in 1Q2014. The number of
transactions for the quarter grew to 15,694, indicating 11%
increase over 1Q2013. (GulfBase.com)
 DSI Kuwait signs three AED128mn projects deals – Drake &
Scull International‟s (DSI) subsidiary DSI Kuwait has won a
major engineering contract worth AED68mn for Sheikh Jaber Al
Ahmad Cultural Center in Kuwait City. The company further
revealed that it has also bagged an MEP contract worth
AED60mn for a healthcare facility in Shuwaikh and two
commercial developments in Al-Qebla. (DFM)
 Abu Dhabi ports expect spike in traffic as projects boom –
Abu Dhabi Ports Company (ADPC) expects a surge in shipping
traffic toward the end of 2014 as work on major infrastructure
projects in the UAE capital gathers pace. ADPC‟s CEO
Mohammad Juma Al Shamisi said that container traffic at
Khalifa Port is expected to climb to around 1.1mn 20-foot
equivalent units (TEUs) in 2014, up 22% from 905,000 TEUs in
2013, when traffic rose 17%. Meanwhile, general and bulk cargo
traffic at the Emirate‟s Khalifa and Zayed ports combined is
expected to top 12mn tons in 2014, up from 9.3mn tons in 2013.
(Bloomberg)
 AFNIC declares 7.5% dividend – Al Fujairah National
Insurance Company‟s (AFNIC) AGM has approved its board of
directors‟ recommendation for the distribution of 7.5% dividend
for the year ended December 31, 2013. (ADX)
 ADIB arranges AED1.2bn financing for IMG Theme Park –
Abu Dhabi Islamic Bank (ADIB) has arranged and successfully
closed an AED1.2bn syndicated Islamic facility for IMG Theme
Park. The park will be a world-class tourist attraction for 10mn
tourists who visit the UAE every year. ADIB acted as the
mandated lead arranger, investment agent, security agent and
account bank for the facility. The deal was structured by ADIB to
meet lMG Theme Park's specific financing needs, including
refinancing of its existing corporate facility and providing finance
for the expansion of the Worlds of Adventure project. (ADX)
 KNPC signs $12bn oil deals; tenders others – The Kuwait
National Petroleum Company (KNPC) signed contracts worth
$12bn with three international consortia to upgrade two
refineries and invited bids to build a new multibillion-dollar
refinery. KNPC‟s Chief Mohamed al-Mutairi signed the contracts
with the three consortia led by Britain‟s Petrofac, US Fluor and
Japan‟s JGC Corp. Most of the other companies in the consortia
are South Korean. Al-Mutairi said the project is due to be
completed in early 2018. Al-Mutairi added that these contracts –
the first mega project in the country‟s oil sector for 25 years –
will upgrade two of the three existing refineries by installing 37
advanced processing units that will reduce sulfur and carbon
pollutants. The current production capacity of the two refineries
of Mina Al-Ahmadi and Mina Abdullah is around 730,000 bpd,
while the capacity of Kuwait‟s third refinery at Shuaiba is
200,000 bpd. (Gulf-Times.com)
 NBK reports KD83.9mn net profit in 1Q2014 – The National
Bank of Kuwait (NBK) has reported a net profit of KD83.9mn in
1Q2014 as compared to KD81.3mn in 1Q2013, reflecting an
increase of 3.2%. NBK Group‟s total assets at the end of the
quarter increased by 13.1% to reach KD20.5bn. Loans &
advances reached KD10.95bn at end of 1Q2014 up 9.6% as
compared to 1Q2013, while customer deposits reached
KD11.12bn, up 12.9%. NBK‟s net operating income grew by
7.6% to KD158.4mn. (GulfBase.com)
 SAC approves project to boost aluminum output – Sohar
Aluminium Company (SAC) has approved plans for the
implementation of a productivity optimization project that will
boost output by a significant 28,000 tons of primary aluminum
annually. The Amperage Creep Project is one of THE two
important initiatives launched by the company for optimizing
energy efficiency and productivity at its giant smelter located in
Sohar Industrial Area. The other initiative concerns a
comprehensive revamp of the potline designed to achieve a
reduction in energy consumption. (GulfBase.com)

5. Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@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
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
190.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
(0.9%)
(1.4%)
(0.2%) (0.1%)
0.2%
(0.2%)
(1.7%)
(2.4%)
(1.6%)
(0.8%)
0.0%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,318.42 0.0 0.0 9.4 DJ Industrial 16,026.75 0.0 0.0 (3.3)
Silver/Ounce 20.00 0.0 0.0 2.7 S&P 500 1,815.69 0.0 0.0 (1.8)
Crude Oil (Brent)/Barrel (FM
Future)
107.33 0.0 0.0 (3.1) NASDAQ 100 3,999.73 0.0 0.0 (4.2)
Natural Gas (Henry
Hub)/MMBtu
4.65 0.0 0.0 7.1 STOXX 600 328.77 0.0 0.0 0.2
LPG Propane (Arab Gulf)/Ton 111.38 0.0 0.0 (11.8) DAX 9,315.29 0.0 0.0 (2.5)
LPG Butane (Arab Gulf)/Ton 122.00 0.0 0.0 (10.6) FTSE 100 6,561.70 0.0 0.0 (2.8)
Euro 1.39 0.0 0.0 1.0 CAC 40 4,365.86 0.0 0.0 1.6
Yen 101.62 0.0 0.0 (3.5) Nikkei 13,960.05 0.0 0.0 (14.3)
GBP 1.67 0.0 0.0 1.1 MSCI EM 1,015.44 0.0 0.0 1.3
CHF 1.14 0.0 0.0 1.9 SHANGHAI SE Composite 2,130.54 0.0 0.0 0.7
AUD 0.94 0.0 0.0 5.4 HANG SENG 23,003.64 0.0 0.0 (1.3)
USD Index 79.45 0.0 0.0 (0.7) BSE SENSEX 22,628.96 0.0 0.0 6.9
RUB 35.64 0.0 0.0 8.4 Bovespa 51,867.29 0.0 0.0 0.7
BRL 0.45 0.0 0.0 6.5 RTS 1,204.07 0.0 0.0 (16.5)
175.7
151.8
138.0