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17 November Daily Market Report
1. QE Intra-Day Movement
Market Indicators
10,350
10,300
10,250
10,200
9:30
17 Nov 13
14 Nov 13
%Chg.
Value Traded (QR mn)
Exch. Market Cap. (QR mn)
Volume (mn)
Number of Transactions
Companies Traded
Market Breadth
500.4
553,518.7
14.3
7,418
40
29:10
378.8
549,780.1
9.8
5,791
40
22:14
32.1
0.7
44.8
28.1
0.0
–
Market Indices
10:00
10:30
11:00
11:30
12:00
12:30
13:00
Qatar Commentary
The QE index rose 0.7% to close at 10,284.8. Gains were led by the
Transportation and Banking & Financial Services indices, gaining 0.9% each.
Top gainers were Qatar Cinema & Film Dist. Co. and Qatari Investors Group,
rising 5.8% and 2.3% respectively. Among the top losers, Mannai Corp. fell
3.3%, while Qatar Insurance Co. declined 1.4%.
Close
Total Return
All Share Index
Banks
Industrials
Transportation
Real Estate
Insurance
Telecoms
Consumer
Al Rayan Islamic Index
1D%
WTD%
YTD%
TTM P/E
14,694.63
2,565.14
2,456.08
3,379.02
1,878.90
1,900.27
2,332.27
1,452.80
5,908.64
2,945.27
0.7
0.6
0.9
0.7
0.9
0.6
(1.1)
0.6
0.0
0.8
0.7
0.6
0.9
0.7
0.9
0.6
(1.1)
0.6
0.0
0.8
29.9
27.3
26.0
28.6
40.2
17.9
18.8
36.4
26.5
18.4
N/A
13.0
13.2
12.3
12.7
13.0
9.6
20.0
22.4
15.4
GCC Commentary
GCC Top Gainers##
Exchange
Close#
1D%
Saudi Arabia: The TASI index rose 0.8% to close at 8,383.8. The Energy &
Utilities index gained 4.4%, while the Cement index was up 3.0%. Southern
Province Cement Co. rose 9.2%, while Saudi Electricity Co. gained 4.9%.
Southern Prov. Cement
Saudi Arabia
130.50
9.2
716.3
30.5
Comm. Bank of Kuwait
Kuwait
0.75
7.1
0.5
5.6
Dubai: The DFM index fell 0.4% to close at 2,813.1. The Investment &
Financial Services index declined 1.6%, while the Services index was down
1.3%. Gulf Finance House declined 6.2%, while Agility was down 6.1%.
Saudi Electricity Co.
Saudi Arabia
14.85
4.9
11,317.7
10.8
Yamamah Saudi Cem.
Saudi Arabia
63.75
4.9
1,917.8
34.2
Abu Dhabi: The ADX benchmark index fell 0.1% to close at 3,789.4. The Inv.
& Fin. Ser. index declined 3.3%, while the Consumer index fell 2.0%. Abu
Dhabi Nat. Co. for B & M declined 7.2%, while Abu Dhabi Ship Build. fell 3.9%.
Saudi Telecom Co.
Saudi Arabia
55.75
3.7
7,137.1
28.8
GCC Top Losers
Exchange
Kuwait: The KSE index rose 0.1% to close at 7,913.1. The Technology index
gained 2.3%, while the Banking index rose 0.6%. National Ranges Co. gained
10.2%, while Kuwait Real Estate Holding Co. was up 9.4%.
Mannai Corp.
Qatar
85.60
(3.3)
0.1
5.7
Nat. Real Estate Co.
Kuwait
0.15
(2.5)
672.1
28.3
Oman: The MSM index gained marginally to close at 6,764.5. The Industrial
index rose 0.4%, while the Banking & Investment index was up 0.1%. Voltamp
Energy gained 4.4%, while Dhofar Insurance was up 2.8%.
Taiba Holding Co.
Saudi Arabia
41.00
(2.4)
2,589.9
65.0
Ithmaar Bank
Bahrain
0.23
(2.2)
1,432.4
32.4
Saudi Ceramic
Saudi Arabia
116.50
(2.1)
551.1
58.0
Bahrain: The BHB index fell 0.5% to close at 1,197.8. The Industrial index
declined 1.0%, while the Investment index was down 0.7%. Gulf Finance
House declined 6.5%, while Al Salam Bank was down 4.9%.
##
#
Close
Vol. ‘000
1D% Vol. ‘000
YTD%
YTD%
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 Gainers
Close*
1D%
Vol. ‘000
YTD%
Qatar Exchange Top Losers
Close*
1D%
Vol. ‘000
Qatar Cinema & Film Dist. Co.
45.50
5.8
2.4
(20.0)
Mannai Corp.
85.60
(3.3)
0.1
5.7
65.00
(1.4)
50.3
20.5
YTD%
Qatari Investors Group
35.95
2.3
1,746.2
56.3
Qatar Insurance Co.
Masraf Al Rayan
32.25
1.9
2,063.2
30.1
Qatar General Ins. & Rein. Co.
50.10
(1.2)
17.2
8.9
Ezdan Holding Group
17.41
1.3
194.9
(4.3)
Qatar Islamic Insurance
57.60
(0.7)
6.8
(7.1)
Aamal Co.
14.63
1.2
65.4
7.5
Gulf Warehousing Co.
40.00
(0.6)
16.1
19.4
Close*
1D%
Vol. ‘000
YTD%
Qatar Exchange Top Val. Trades
Close*
1D%
Val. ‘000
YTD%
United Development Co.
23.37
0.0
2,611.8
31.3
Industries Qatar
168.40
0.6
69,857.3
19.4
Masraf Al Rayan
32.25
1.9
2,063.2
30.1
Masraf Al Rayan
32.25
1.9
66,235.7
30.1
Qatari Investors Group
35.95
2.3
1,746.2
56.3
Qatari Investors Group
35.95
2.3
62,661.6
56.3
9.88
0.8
1,461.7
18.3
United Development Co.
23.37
0.0
61,403.4
31.3
27.70
1.1
1,363.2
0.9
Barwa Real Estate Co.
27.70
1.1
37,760.0
0.9
Qatar Exchange Top Vol. Trades
Vodafone Qatar
Barwa Real Estate Co.
Source: Bloomberg (* in QR)
Source: Bloomberg (* in QR)
Regional Indices
Qatar*
Dubai
Abu Dhabi
Saudi Arabia
Kuwait
Oman
Bahrain
Close
1D%
WTD%
MTD%
YTD%
10,284.80
2,813.08
3,789.39
8,383.77
7,913.09
6,764.45
1,197.81
0.7
(0.4)
(0.1)
0.8
0.1
0.0
(0.5)
0.7
(0.4)
(0.1)
0.8
0.1
0.0
(0.5)
4.5
(3.7)
(1.5)
4.2
(0.4)
1.4
(0.3)
23.0
73.4
44.0
23.3
33.3
17.4
12.4
Exch. Val. Traded
($ mn)
137.44
139.55
78.24
1,600.57
92.10
25.69
1.69
Exchange Mkt.
Cap. ($ mn)
152,051.6
67,931.5
109,156.6
456,916.0
109,418.8
24,073.7
16,773.3
P/E**
P/B**
13.1
16.6
10.5
17.1
18.3
10.8
8.1
1.8
1.1
1.3
2.1
1.3
1.6
0.8
Dividend
Yield
4.5
3.2
4.8
3.5
3.5
3.8
4.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
Page 1 of 5
2. Qatar Market Commentary
The QE index rose 0.7% to close at 10,284.8. 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.
Qatar Cinema & Film Dist. Co. and Qatari Investors Group were
the top gainers, rising 5.8% and 2.3% respectively. Among the
top losers, Mannai Corp. fell 3.3%, while Qatar Insurance Co.
declined 1.4%.
Overall Activity
Buy %*
Sell %*
Net (QR)
Qatari
70.76%
79.99%
(46,163,600.26)
Non-Qatari
29.24%
20.01%
46,163,600.26
Source: Qatar Exchange (* as a % of traded value)
Volume of shares traded on Sunday rose by 44.8% to 14.3mn
from 9.8mn on Thursday. Further, as compared to the 30-day
moving average of 7.6mn, volume for the day was 88.7% higher.
United Development Co. and Masraf Al Rayan were the most
active stocks, contributing 18.3% and 14.5% to the total volume
respectively.
Earnings
Earnings Releases
Company
Revenue
(mn) 3Q2013
% Change
YoY
Operating Profit
(mn) 3Q2013
% Change
YoY
Net Profit (mn)
3Q2013
% Change
YoY
AED
224.3
-17.0%
–
–
22.1
147.7%
AED
25.5
22.4%
–
–
-2.8
N/A
Abu Dhabi
AED
61.6
10.1%
–
–
74.4
187.9%
Bahrain
BHD
48.4
-22.8%
–
–
7.5
30.1%
Bahrain
BHD
6.6
-4.0%
–
–
1.5
-15.0%
Market
Currency
Abu Dhabi Ship Building
Abu Dhabi
United Insurance Co. (UIC)
Al Wathba National
Insurance Co.
Arab Insurance Group
(ARIG)
Bahrain Duty Free Shop
Complex (DUTYF)
Abu Dhabi
Source: Company data, DFM, ADX, MSM
News
Qatar
Qatar to spend more than $156bn on construction by 2030 –
According to a report by EC Harris, Qatar is due to spend
$156.8bn on implementing major construction programs by
2030. These construction programs in Qatar – costing $1bn or
more – are due to peak in 2016 with $34bn worth of projects due
to be delivered. Further, the report showed that some 117 major
programs are planned across the Middle East to be completed
by 2030, costing more than $1tn. These programs include major
infrastructure, energy, property and transportation projects. Of
the six countries covered in the EC Harris report, the UAE is due
to spend the most on major programs at $329.4bn, followed by
Saudi Arabia ($255bn), Qatar ($156.8bn), Kuwait ($130.3bn),
Iraq ($123.3bn) and Oman ($21.8bn). (Gulf-Times.com)
Barwa Real Estate inks MoA with Qatari Diar – Barwa Real
Estate has signed a memorandum of agreement (MoA) with its
strategic partner, Qatari Diar (45% owner of Barwa). The
agreement covers selling assets worth QR20bn that needs to be
implemented latest by June 30, 2014. This agreement is a part
of Barwa’s plans to restructure its finances in order to reduce
debt, which would reflect positively on its financial statements.
(QE)
QA orders 50 Boeing 777-9X planes, 5 Airbus A330
freighters – Qatar Airways (QA) placed orders worth $19bn for
50 Boeing 777-9X long-haul jet, which will make the national
carrier one of the launch customers for the new jet. QA has
signed a letter of intent to this effect at the 2013 Dubai Airshow.
The 777-9 edition, carrying 406 people, will be delivered starting
2020. Further, QA has also placed an order for five Airbus A330
freighters as it expands its cargo business. The carrier said it
has taken out options for another 8 aircraft, making the deal
potentially worth $2.8bn at list prices. QA’s Chief Executive
Akbar Al Baker said cargo is a strategic part of the airline’s
business. Al Baker said QA was considering upgrading some of
its orders placed for A350-900 models to the larger A350-1000.
He said it would consider a stretched version of the A350-1000 if
Airbus decided to build one. (Gulf-Times.com, Reuters)
Al Meera opens first rehabilitated shopping mall in Muscat –
Al Meera Consumer Goods Company has opened its first
rehabilitated shopping mall in Al Athaiba Area in Muscat, Oman.
With the opening of the new outlet, Al Meera now has five
branches in Oman. (Qatar Tribune)
Mowasalat boosts cars fleet – Mowasalat has added 50
seven-seater cars to its fleet of taxis serving the Doha
International Airport. (Peninsula Qatar)
Qatar Foundation announces two new key appointments –
Qatar Foundation has made two new key appointments – the
organization named Engineer Jassim Telefat as Group
Executive Director of Qatar Foundation Capital Projects and
Facilities Management, and Fahad Saad Al Qahtani as Group
Executive Director of Qatar Foundation Administration.
(Peninsula Qatar)
HIA airport to be opened in May – The Hamad International
Airport (HIA) will open in May next year, local Arabic daily Al
Sharq has said quoting an informed source. Work on the
passenger halls will be completed next April. (Gulf-Times.com)
Woqod opens new service station in Abu Samra – Qatar
Fuel (Woqod) has opened a new service station in Abu Samra.
The service station is located near the Qatar-Saudi border,
approximately 85 kilometers west of Doha. (Gulf-Times.com)
Oman seeks to augment exports to Qatar – Oman’s Public
Authority for Investment Promotion & Export Development’s
(Paiped) Director General of export development Nasima Yahya
Page 2 of 5
3. Zirook al Balushi said Omani exporters are keen about further
enhancing partnerships with their Qatari counterparts across
various industries. She added that exports from Oman to Qatar
mainly consisting of construction materials and food increased
by 33.7% in 2012 as compared to 2011, while the volume of
Oman's exports to Qatar was valued at OMR61.5mn. (Qatar
Tribune)
Accor to operate two branded hotels in Doha – Accor Middle
East, a hospitality group in the region, has signed a
management agreement to operate two new hotels, a 3-star ibis
hotel (150 guest rooms) and a midscale aparthotel Adagio(150
apartments) in Doha. Ibis Doha will complement a regional Ibis
network of 12 hotels already in operation and seven currently
under development, while Adagio Doha will the 5th branded
hotel in the region. (Bloomberg)
International
Bundesbank sees no asset price bubble for now – The
German central bank, Bundesbank’s board member Joachim
Nagel said no asset price bubble is seen building for the time
being, and investors are aware that current low interest rates are
an exceptional situation that will not last. He said the record low
interest rates currently – the European Central Bank cut its main
refinancing rate to 0.25% this month – are a big challenge for
market participants, driving many to seek alternative
investments. Nagel said he does not see a bubble forming, but
every investor must be aware of the possibility for a correction,
especially when volatility returns to the markets. (Reuters)
Rightmove: Little sign of UK housing bubble – According
UK-based property website Rightmove, fears of Britain's
housing stimulus schemes inflating a price bubble look
overblown. The government has introduced two schemes to
help revive a property market, but as an economic recovery
takes hold, some worry that the stimulus could overheat the
market and pose a new threat to Britain's financial stability.
Rightmove’s director Miles Shipside said efforts by the Financial
Conduct Authority were working after it introduced new rules to
stop a repeat of the previous decade's housing bubble. Visitors
to the website had risen 30% in September as compared to the
same period in 2012, indicating a possible release of pent-up
demand to move. (Reuters)
IMF: SWFs should rope in independent experts for risk,
assets allocation – According to a working paper by the
International Monetary Fund (IMF), sovereign wealth funds
(SWFs), should provide for real delegation of an independent
operational manager within overall limits on risks and asset
allocation set by the owner. IMF said this is particularly
important since SWFs have assumed key roles in their domestic
economies and global financial markets. The SWFs' assets
under management have grown rapidly over the last few years,
driven by balance of payment surpluses and high commodity
prices. Upper-end estimates indicate the total SWF assets to be
worth around $5tn. This figure may have double counted some
sovereign assets, by including central bank assets that are
already captured in official reserves. (Gulf-Times.com)
Regional
Gulf airlines splurge $150bn as Boeing launches new 777
jet; Etihad orders 87 aircraft from Airbus – Airlines in the Gulf
have placed orders worth over $150bn on the first day of the
Dubai Airshow, underscoring a power shift in the aviation
industry. This also gave a boost to the formal launch of Boeing's
newest jet, as well as to Airbus's A380 superjumbo. Dubaibased Emirates Airlines led the buying spree with an order for
150 of Boeing's revamped 777 mini-jumbo plane, in a deal worth
$76bn at list prices. Emirates also ordered 50 Airbus A380s, the
world's biggest passenger plane, worth a total $23bn. With more
demand coming from Etihad Airways and Qatar Airways as well,
Boeing announced commitments totaling 259 planes for its new
777 jet, worth about $100bn at list prices, making it the largest
combined order in its history. Meanwhile, Etihad Airways has
placed an order for 87 aircraft with Airbus, which includes
options for 30 more and could be worth $26.9bn. (Reuters)
Saudi cement sales rise 2% to 4.19mn tons in October –
According to a report by Yamamah Cement Company (YCC),
cement sales in the Saudi market rose by 2% to 4.19mn tons in
October 2013 as compared to 4.13mn tons in October 2012.
The volume of cement produced by Saudi cement companies
reached 4.23mn tons against 4.22mn tons in the comparable
period. According to the report, production of clinker – the major
raw material for cement – soared by 19% in October 2013 to
reach 4.74mn tons as compared to 3.98mn tons in October
2012. Meanwhile, the volume of imported clinker reached
780,000 tons in October 2013, while exported clinker volume
rose by 9% to reach 36,000 tons. (GulfBase.com)
Saudi Arabian crude oil exports reach eight-year high –
According to data released by the Joint Organization Data
Initiative’s (JODI), Saudi Arabia ranked as the world’s largest
crude producer in September, ahead of Russia for the second
consecutive month, and exported more oil than in any month
since November 2005. The Kingdom produced 10.12mn barrels
a day, 70,000 less than in August, and shipped 7.84mn barrels
in September, up from 7.8mn. The figures exclude natural gas
liquids. (Bloomberg)
Dar Al Arkan picks banks for sukuk sale – Saudi-based
property developer Dar Al Arkan has picked five banks to help in
arranging the possible sale of a three-year, dollar-denominated
sukuk. The developer appointed Goldman Sachs, Deutsche
Bank, Bank of America Merrill Lynch, Bank Alkhair and Emirates
NBD Capital to arrange investor meetings on November 17 and
18. (Reuters)
CBUAE issues credit exposure limit rules – The Central Bank
of the UAE (CBUAE) has set out rules to govern ratio
requirements to which all banks must adhere to ensure their
liquidity and solvency. These rules govern exposure limits of
banks to governments, local governments and governmentrelated entities. A profitable government-related enterprise
(GRE) that does not need explicit or implicit government
support, with a credit rating of at least BBB, can be treated by as
an entity separate from the government. Credit facilities by
banks operating outside the UAE cannot exceed 30% of a
bank’s capital base. Banks with higher exposure than new limits
must reduce exposure by 20% a year over a period of maximum
5 years. The credit limit of 30% also applies to facilities given by
branches of foreign banks to headquarters and facilities to
subsidiary companies. (Bloomberg)
Amlak to resume trading before July 2014 – The UAE’s
Economy Minister Sultan Bin Saeed Al Mansoori said Amlak will
resume trading before July 2014. Amlak is said to seek
extension on its $2bn debt. (Bloomberg)
Flydubai sees burgeoning demand for budget travel –
Flydubai’s CEO Ghaith Al Ghaith said there is plenty of
untapped demand for mid-range travel from Dubai's tourism
hub, despite the massive capacity at the airport filling up. He
said there are not enough flights in the region as compared to
places in Europe, but there is rising demand. Al Ghaith said
demand is increasing as cities in the Gulf region continue to
develop, while more can be created as new connections are
launched. (Reuters)
Page 3 of 5
4. DSI’s unit JV wins AED545mn contract in Egypt – A
consortium of Passavant-Roediger - a wholly owned German
subsidiary of Drake & Scull International (DSI), Acciona Spain’s private developer and manager of infrastructure,
renewable energy, water and services, and Hassan Allam Sons
- Egypt’s construction and property group, has obtained an
AED545mn contract to expand the Gabal Al Asfar Waste Water
Treatment Plant (GAAWWTP) on the outskirts of Cairo, Egypt.
(DFM)
Cipriani to open restaurant in Dubai– Italy-based Cipriani, a
global brand in the restaurant business, has re-entered the UAE
market with its Yas Island branch. The company plans to open
its Dubai property in the first quarter of 2014. (GulfBase.com)
Dana Gas awards $17mn contract for Zora Offshore Field –
Dana Gas has awarded a contract worth $17mn for the
fabrication of an offshore platform in the Zora Field Development
Project to Adyard Abu Dhabi. The platform is an important
element in the Zora project’s overall scope, which aims to
extract the reserves from the gas field through an offshore
facility and to transport the reserves via a 35-kilometer subsea
pipeline to an onshore gas processing facility. The facility will be
located in Sharjah onshore area. The company expects to start
delivering 40mn cubic feet per day of gas by 1H2015. (ADX)
Etihad acquires 33.3% stake in Darwin – Abu Dhabi-based
Etihad Airways has bought a 33.3% stake in Swiss carrier,
Darwin Airline. Following the deal completion, Darwin will be
rebranded as Etihad Regional. The deal will allow Etihad to
connect to secondary markets in Europe where it does not reach
currently. (Reuters)
Galfar bags Muscat Airport’s catering building contract –
Galfar Engineering & Contracting Company has won the flight
catering facilities project, which is estimated to cost
OMR67.37mn. The catering facility, part of the expansion of
Muscat International Airport, is aimed at creating facilities for
30,000 meals a day. The scope of work includes construction of
a building to accommodate kitchen that would serve several
carriers flying to Muscat. (GulfBase.com)
UGB reports $2.2mn net profit in 9M2013 – The United Gulf
Bank (UGB) has reported a net profit of $2.2mn attributable to
its parent’s shareholders for the nine months ended September
2013 as compared to $4.9mn in 9M2012. Net loss in 3Q2013
stood at $7.4mn as compared to a loss of $11.5mn in 3Q2012.
UGB’s total assets stood at $1.26bn as on September 30, 2013,
growing from $1.23bn as on December 31, 2012.
(GulfBase.com)
KHCB reports BHD0.5mn net loss in 3Q2013 – Khaleeji
Commercial Bank (KHCB) has reported a net loss of BHD0.5mn
in 3Q2013 as compared to a net profit of BHD0.25mn in
3Q2012. Loss per share stood at BHD0.43 in 3Q2013 as
compared to EPS of BHD0.22 in 3Q2012. Total assets at the
end of September 2013 stood at BHD572.5mn, reflecting a YTD
increase of 21%. Financing assets rose by 7% YTD to
BHD262.9mn, while customers’ current accounts were up
168.2% YTD to BHD30.6mn. (Bahrain Bourse)
Page 4 of 5
5. Rebased Performance
Daily Index Performance
160.0
150.0
140.0
130.0
120.0
110.0
100.0
90.0
80.0
1.2%
0.8%
0.8%
0.4%
118.9
0.0%
0.1%
0.0%
(0.1%)
(0.4%)
QE Index
S&P Pan Arab
S&P GCC
Source: Bloomberg
Asset/Currency Performance
Gold/Ounce
Silver/Ounce
Crude Oil (Brent)/Barrel (FM
Future)
Natural Gas (Henry
Hub)/MMBtu
North American Spot LPG
Propane Price
North American Spot LPG
Normal Butane Price
Euro
Source: Bloomberg
Close ($)
1D%
WTD%
YTD%
Global Indices Performance
Close
1D%
WTD%
YTD%
1,290.20
0.0
0.0
(23.0)
DJ Industrial
15,961.70
0.0
0.0
21.8
20.81
0.0
0.0
(31.4)
S&P 500
1,798.18
0.0
0.0
26.1
108.50
0.0
0.0
(2.3)
NASDAQ 100
3,985.97
0.0
0.0
32.0
3.56
0.0
0.0
3.9
323.00
0.0
0.0
15.5
118.63
0.0
0.0
31.8
DAX
9,168.69
0.0
0.0
20.4
142.87
0.0
0.0
(19.1)
FTSE 100
6,693.44
0.0
0.0
13.5
STOXX 600
1.35
0.0
0.0
2.3
100.19
0.0
0.0
15.5
Nikkei
GBP
1.61
0.0
0.0
(0.8)
CHF
1.09
0.0
0.0
0.1
AUD
0.94
0.0
0.0
(9.9)
USD Index
80.85
0.0
0.0
RUB
32.59
0.0
0.0
BRL
0.43
0.0
0.0
(11.5)
Yen
Oman
Jul-13
Bahrain
May-12 Dec-12
Kuwait
Oct-11
Qatar
Jan-10 Aug-10 Mar-11
(0.4%)
(0.5%)
Saudi Arabia
(0.8%)
Dubai
131.0
0.7%
Abu Dhabi
147.8
4,292.23
0.0
0.0
17.9
15,165.92
0.0
0.0
45.9
MSCI EM
1,005.17
0.0
0.0
(4.7)
SHANGHAI SE Composite
2,135.83
0.0
0.0
(5.9)
HANG SENG
23,032.15
0.0
0.0
1.7
1.4
BSE SENSEX
20,399.42
0.0
0.0
5.0
6.8
Bovespa
53,451.60
0.0
0.0
(12.3)
1,444.24
0.0
0.0
(5.4)
Source: Bloomberg
CAC 40
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
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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
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