1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 9,290.3. Losses were led by the
Telecoms and Banking & Financial Services indices, declining 0.6% and 0.4%
respectively. Top losers were Qatar German Co. for Med. Dev. and Ezdan
Holding Group, falling 1.5% and 1.0% respectively. Among the top gainers,
United Development Co. rose 4.1%, while National Leasing gained 3.5%.
GCC Commentary
Saudi Arabia: The TASI index gained 0.4% to close at 7,645.7. Gains were
led by the Agriculture & Food Industries and Hotel & Tourism indices, rising
1.5% and 1.3% respectively. Saudi Arabian Cooperative Insurance Co. rose
7.9%, while Allied Cooperative Insurance Group was up 6.7%.
Dubai: Dubai was closed on June 06, 2013.
Abu Dhabi: Abu Dhabi was closed on June 06, 2013.
Kuwait: Kuwait was closed on June 06, 2013.
Oman: Oman was closed on June 06, 2013.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
United Development Co. 23.53 4.1 2,661.3 32.2
National Leasing 38.40 3.5 2,205.6 (15.0)
Qatar Islamic Insurance 61.20 3.2 89.3 (1.3)
Qatari Investors Group 26.75 2.9 540.7 16.3
Gulf Warehousing Co. 42.10 2.2 92.3 25.7
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 23.53 4.1 2,661.3 32.2
National Leasing 38.40 3.5 2,205.6 (15.0)
Barwa Real Estate Co. 26.80 0.6 1,417.9 (2.4)
Vodafone Qatar 9.31 0.6 924.0 11.5
Masraf Al Rayan 27.20 (0.5) 857.8 9.7
Market Indicators 06 June 13 05 June 13 %Chg.
Value Traded (QR mn) 408.6 344.8 18.5
Exch. Market Cap. (QR mn) 511,042.9 512,938.5 (0.4)
Volume (mn) 12.5 9.9 27.0
Number of Transactions 4,794 4,903 (2.2)
Companies Traded 38 38 0.0
Market Breadth 18:18 11:24 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,273.75 (0.2) 0.6 17.3 N/A
All Share Index 2,353.75 (0.2) 0.4 16.8 12.8
Banks 2,178.40 (0.4) (0.4) 11.8 11.7
Industrials 3,152.11 (0.3) (0.7) 20.0 11.7
Transportation 1,729.46 (0.3) 4.0 29.0 12.2
Real Estate 1,872.84 2.0 4.5 16.2 12.0
Insurance 2,325.02 0.1 1.4 18.4 15.3
Telecoms 1,307.53 (0.6) 1.6 22.8 14.9
Consumer 5,605.72 0.1 0.9 20.0 22.9
Al Rayan Islamic Index 2,835.40 0.8 1.6 14.0 14.1
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Dev. Co. Qatar 23.53 4.1 2,661.3 32.2
National Leasing Qatar 38.40 3.5 2,205.6 (15.0)
Qatari Investors Group Qatar 26.75 2.9 540.7 16.3
Gulf Warehousing Co. Qatar 42.10 2.2 92.3 25.7
Aluminium Bahrain Bahrain 0.54 0.9 16.5 23.8
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ithmaar Bank Bahrain 0.25 (7.5) 480.0 44.1
BBK Bahrain 0.40 (1.5) 12.8 12.3
Ezdan Holding Group Qatar 17.55 (1.0) 71.0 (3.6)
Qatar Telecom Qatar 124.10 (0.8) 28.7 19.3
Industries Qatar Qatar 163.80 (0.7) 185.5 16.2
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 German Co. for Med. Dev. 15.56 (1.5) 523.9 5.3
Ezdan Holding Group 17.55 (1.0) 71.0 (3.6)
Medicare Group 43.20 (0.8) 287.7 21.0
Qatar Telecom 124.10 (0.8) 28.7 19.3
Industries Qatar 163.80 (0.7) 185.5 16.2
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
National Leasing 38.40 3.5 83,531.5 (15.0)
United Development Co. 23.53 4.1 61,980.1 32.2
Barwa Real Estate Co. 26.80 0.6 37,968.9 (2.4)
Industries Qatar 163.80 (0.7) 30,389.3 16.2
Masraf Al Rayan 27.20 (0.5) 23,376.1 9.7
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* 9,290.33 (0.2) 0.6 0.6 11.1 112.22 140,332.4 11.8 1.7 5.0
Dubai#
2,421.64 N/A 2.3 2.3 49.3 N/A 62,124.9 15.6 1.0 3.5
Abu Dhabi#
3,599.29 N/A 1.0 1.0 36.8 N/A 105,079.5 11.0 1.3 4.9
Saudi Arabia 7,645.65 0.4 0.4 3.3 12.4 1,641.27 408,941.5 16.3 2.0 3.6
Kuwait#
8,027.98 N/A (3.3) (3.3) 35.3 N/A 110,757.3 24.6 1.4 3.3
Oman#
6,498.05 N/A 1.2 1.2 12.8 N/A 22,835.2 11.3 1.7 4.3
Bahrain 1,201.42 (0.7) 0.4 0.4 12.7 1.35 21,334.7 8.7 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) (
#
Closed on June 06, 2013)
9,260
9,270
9,280
9,290
9,300
9,310
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 0.2% to close at 9,290.3. The Telecoms
and Banking & Financial Services indices led the losses. The
index declined on the back of selling pressure from non-Qatari
shareholders despite buying support from Qatari shareholders.
Qatar German Co. for Med. Dev. and Ezdan Holding Group were
the top losers, falling 1.5% and 1.0% respectively. Among the
top gainers, United Development Co. rose 4.1%, while National
Leasing gained 3.5%.
Volume of shares traded on Thursday rose by 27.0% to 12.5mn
from 9.9mn on Wednesday. Further, as compared to the 30-day
moving average of 10.6mn, volume for the day was 18.2%
higher. United Development Co. and National Leasing were the
most active stocks, contributing 21.2% and 17.6% 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
06/06 US IPSOS Public Affairs RBC Consumer Outlook Index June 51.8 – 50.2
06/06 US Department of Labor Initial Jobless Claims 1-June 346K 345K 357K
06/06 US Department of Labor Continuing Claims 25-May 2952K 2973K 3004K
06/06 US Bloomberg Bloomberg Consumer Comfort 2-June -29.7 – -29.7
06/07 US Bureau of Labor Stat. Unemployment Rate May 7.60% 7.50% 7.50%
06/06 France INSEE ILO Unemployment Rate 1Q2013 10.80% 10.80% 10.50%
06/06 Germany Bundesbank Factory Orders MoM (sa) April -2.30% -1.00% 2.30%
06/06 Germany
Federal Ministry of
Economy & Technology
Factory Orders YoY (nsa) April -0.40% 0.90% -0.30%
06/07 Germany Bundesbank Imports SA (MoM) April 2.30% 0.50% 0.70%
06/07 Germany Bundesbank Exports SA (MoM) April 1.90% 0.10% 0.50%
06/07 Germany Bundesbank Industrial Production MoM (sa) April 1.80% 0.00% 1.20%
06/07 Germany
Federal Ministry of
Economy & Technology
Industrial Prod. YoY (nsa wda) April 1.00% -0.70% -2.40%
06/06 UK Lloyds Lloyds Employment Confidence May -37 – -41
06/07 UK Bank of England BoE/GfK Inflation Next 12 Mths May 3.60% – 3.60%
06/07 Spain INE Industrial Output WDA (YoY) April -1.80% -2.60% -0.80%
06/07 Spain INE Industrial Output NSA (YoY) April 7.30% – 10.00%
06/08 China National Bureau of Stat. Exports YoY% May 1.00% 7.40% 14.70%
06/08 China National Bureau of Stat. Imports YoY% May -0.30% 6.60% 16.80%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
QIBK provides $100mn financing to QFB – Qatar Islamic
Bank (QIBK) has signed $100mn Murabaha facility with Qatar
First Bank (QFB). The facility is a multiple Murabaha-structured
facility with a three-year tenor, which will be used to support
QFB's growth plans. (QE)
BRES to sell its assets worth QR26bn – Barwa Real Estate
Company (BRES) is selling its assets worth QR26bn to Qatari
Diar (holding 45% of BRES’ outstanding issued shares). BRES
said that the Qatari Diar initiative aims to secure the remaining
shareholders’ rights and reduce BRES’s overall debt costs,
which will be concluded during the remainder of 2013. The
assets to be sold are: Barwa Commercial Avenue Project,
Barwa Al Sadd Project, Barwa City Project and certain assets of
BRES’s investment portfolio. (QE)
Barwa Bank’s TFI signs JV deal for Saudi real estate
investment – Barwa Bank’s investment banking division, The
First Investor (TFI) has signed a joint venture agreement with
the Project Management & Development Company (PMDC) to
invest in income-generating expatriate residential compounds in
Saudi Arabia. As the JV initiators, TFI, Barwa Bank and PMDC
have invested $30mn in the proposition. (Gulf-Times.com)
Ooredoo to invest $15bn in Myanmar if it wins license –
Ooredoo’s (formerly QTEL) Chief Strategy Officer Jeremy Sell
said the company would invest $15bn in rolling out a
telecommunications network across Myanmar, if it gets one of
the two licenses being tendered in that country. He added that if
the company wins the license, it would roll out a 3G data
network across the country, reaching 90% of the population
within two years. (Bloomberg)
QNRF awards QR2.6mn to ConocoPhillips water project –
Qatar National Research Fund (QNRF) has awarded
ConocoPhillips’ Global Water Sustainability Center (GWSC) a
grant of QR2.6mn for its proposal on the application of forward
osmosis to reduce produced water injection volumes in Qatari
gas fields. (Peninsula Qatar)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 77.22% 74.30% 11,896,606.43
Non-Qatari 22.79% 25.70% (11,896,606.43)
3. Page 3 of 5
Qatar’s health insurance system to be fully operational by
2015 – The health insurance system in Qatar is expected to be
fully operational by 2015 and expats are to be covered in the
last phase of implementation. Insurance premiums will have to
be paid at the time of issuance or renewal of residence permit
for an expatriate. (Peninsula Qatar)
Ashghal plans to build 69 schools, 25 kindergartens – The
Public Works Authority (Ashghal) is set to construct 69 new
schools and 25 kindergartens across Qatar by the end of 2014.
(Peninsula Qatar)
International
QNB Group: US economy shows signs of slowing again;
spending shields GCC countries – According to a report of
the QNB Group, the US economy may be slowing again as
higher taxes, and lower government outlays lead to reduced
consumer spending and manufacturing. However, strong
infrastructure spending, and relatively high oil prices should
continue to protect Qatar and the other GCC countries from
these latest headwinds from the US economy. (Gulf-Times.com)
ECB holds rates, sees gradual recovery in 2013 – The
European Central Bank (ECB) has retained its main interest rate
at a record low of 0.5%, saying that improved economic data in
May 2013 confirmed its forecast of a gradual recovery from the
prolonged recession later this year. ECB President Mario Draghi
said the bank's easy monetary policy should continue to support
prospects for an economic recovery later in the year and it
would remain accommodative for as long as necessary. He also
said the bank was still looking at ways to boost lending to small
& medium-sized enterprises (SMEs), and revitalizing the market
for asset-backed securities, but any such action is not for the
short-term. (Reuters)
Bundesbank dampens optimism over German economy –
Bundesbank, the German central bank has cut the nation’s
growth forecast for 2013, saying Germany's economy would
slow down again after a second-quarter surge. The central bank
has cut its 2013 growth forecast by 0.1% to 0.3% and its
estimate for 2014 growth to 1.5% from 1.9%. The Bundesbank's
2013 prediction brought it in line with the IMF’s forecast.
(Reuters)
BoE holds policy steady – The Bank of England (BoE) has not
changed its monetary policy despite the governor's calls for
more stimulus. The bank's decision to leave its policy steady as
recent data suggests Britain's recovery is gathering strength.
Meanwhile, BoE’s survey showed the UK’s average public
inflation expectations for the next 12 months stood at 3.6% in
May, well above the central bank's 2% inflation target. (Reuters)
Japan unveils plan for tax cuts to boost capex – Japanese
Prime Minister Shinzo Abe said the government would decide
on tax cuts in autumn to encourage companies to boost capital
expenditure as part of its sweeping reforms to revive the
Japanese economy from nearly two decades of stagnation. The
government will also work on legislation to scrap regulations that
hamper corporate research and investment and secure its
passage in parliament in autumn. These measures will add to a
series of steps unveiled in the government’s growth strategy last
week, which include setting up special economic zones to attract
foreign business and raising incomes by 3% per annum.
(Reuters)
Chinese CPI slows to 2.1% in May – According to the National
Bureau of Statistics (NBS), China's annual consumer inflation
slowed to 2.1% in May 2013 from April's 2.4%, which was below
market expectations. This news added to market views that the
nation’s economy could slow down further in the current quarter.
Further, the NBS said that China's producer prices fell 2.9%
YoY compared with a drop of 2.6% YoY in April 2013.
Economists polled by Reuters had expected annual inflation to
remain at 2.5% and factory-gate prices to fall 2.5% in May.
(Reuters)
Regional
Saudi oil output rises to 9.6mn bpd in May – According to
sources, Saudi Arabia has produced 9.6mn bpd of crude oil in
May 2013, up from 9.3mn bpd in April 2013. Supply to both the
domestic and export markets were also at around 9.6mn bpd in
May, up from 9.2mn bpd in April. (GulfBase.com)
BMI: Kingdom to maintain natural gas self-sufficiency –
According to a report by Business Monitor International (BMI),
Saudi Arabia will remain self-sufficient in natural gas, with its
production rising from an estimated 116.2bn cubic meters (bcm)
in 2013 to 152 bcm by 2022. The report expects crude oil
production to rise to an average of 11.6mn bpd in 2013, coupled
with natural gas liquids and processing gains. The report said
that total liquids supply is set to rise to 12.8mn bpd and
domestic consumption will increase to 4.3mn bpd by 2022, from
an estimate of 3.3mn bpd in 2013. (GulfBase.com)
BMI: Jeddah Islamic Port leads in Saudi maritime sector –
According to a BMI report on the Saudi shipping sector, the
Jeddah Islamic Port is set to hold the top position in country’s
maritime sector both in terms of total tonnage and container
throughput in 2013, after demonstrating strong growth in 2012.
The report said the Jeddah Islamic Port’s tonnage throughput is
forecast to grow 8.8%, and to average 7.9% until 2017. The
report also forecasted the port’s throughput to grow by an
average of 7.7% over the forecast period. Further, the report
said the total trade real growth is forecasted at 1.5%, averaging
1.4% until 2017. (GulfBase.com)
Saudi-Taiwan trade reaches $21.1bn – The bilateral trade
between Saudi Arabia and Taiwan touched $21.1bn in 2012.
Taiwan’s import from Saudi Arabia totaled $18.1bn in 2012, up
7.3% YoY, while its export crossed $2.4bn, up 22.5% YoY.
(GulfBase.com)
Tadawul launches IFSAH electronic disclosure system –
The Saudi Stock Exchange (Tadawul) has launched the new
electronic disclosure system, “IFSAH”. IFSAH is an easy
interactive system that provides electronic templates and forms
via eXtensible Business Reporting Language (XBRL) for
displaying the entered organized data. (Tadawul)
SABIC plans $4.2bn steel projects – Saudi Basic Industries
Corporation (SABIC) is planning to build two large steel plants
worth $4.2bn on Saudi Arabia's Gulf coast for its affiliate,
Hadeed. SABIC said the plant that is being built in Jubail will
have a processing capacity of 1.5mn tons a year, while the other
plant in Rabigh will have a capacity of 1mn tons a year. SABIC
also said that it has reached an agreement with the Saudi oil
ministry for supplying fuel to power the plants. (GulfBase.com)
SEC signs SR1.4bn contracts for electrical projects – The
Saudi Electricity Company (SEC) has signed four contracts
worth around SR1.4bn to implement electrical projects in Riyadh
and Makkah. These projects included the establishment of
ground cables to connect a number of distribution stations in the
neighborhoods of Riyadh, along with the establishment of
Mashaer Electricity Station in Makkah. (Bloomberg)
Saudi government orders for SITC liquidation – The Saudi
government has passed a decree to liquidate the Saudi
4. Page 4 of 5
Integrated Telecom Company (SITC), which floated its shares in
an IPO in 2011, but never started operations. (GulfBase.com)
SWCC’s desalination and power plant completes 75%
construction works – The Saline Water Conversion
Corporation (SWCC) said its desalination project in Ras Al-Khair
is 75% complete and will begin production in 3Q2013. The
capacity of the plant is over 1mn cubic meters of desalinated
water and 2,400MW of electricity. SWCC also said that the total
investment for the project is SR23bn. Electricity production will
start in 3Q2013 and water production by the end of 2013.
(GulfBase.com)
Al Sorayai signs MoU with Al Jazeera Paints for production
plant – Al Sorayai Trading & Industrial Group Company (Al
Sorayai) has signed a MoU with Al Jazeera Paints for the
construction of a calcium carbonate production plant. This MoU
has become effective from June 5, 2013 and is valid for six
months. (Tadawul)
UAE business activity rises to 3-month high in May –
According to a survey of the HSBC UAE Purchasing Managers’
Index (PMI), business activity in the UAE’s non-oil private sector
rose to a three-month high in May as growth in new orders
improved. The index showed that PMI grew to 55.3 points in
May from 54.0 in April. The survey showed that the adjusted
index remains above the 50-point mark that separates growth
from contraction. (Gulf-Times.com)
Emirates NBD signs $300mn loan deal with Turk Telekom –
Leading UAE bank Emirates NBD has signed a $300mn loan
deal with the Turkish telecommunications company, Turk
Telekom. Turk Telekom said the annual rate of interest on the
3.5 year bond will be LIBOR plus 2.7%. (GulfBase.com)
Mubadala to target gas export hubs overseas – Mubadala
Petroleum has been assigned by the UAE’s government to look
at gas-export facilities abroad to complement an import terminal,
which is under construction in Fujairah. (GulfBase.com)
Emaar to develop Creek Harbor Project in JV with Dubai
Holding – Emaar Properties said it is in the final stages of
negotiation with Dubai Holding to develop a 6.5mn square meter
urban district located alongside Dubai Creek and adjacent to
Ras Al Khor. The new project, Dubai Creek Harbor, comprises a
central business district and a mix of cultural, commercial,
technology, educational, healthcare, sporting, entertainment,
shopping malls and residential uses, all designed around a
series of lagoons and green boulevards. Dubai Creek Harbor
will be developed through a joint venture between Emaar
Properties and Dubai Holding. (DFM)
Emaar Properties, Meraas form venture for Dubai project –
Emaar Properties and Meraas Holding have formed a JV to
build a huge residential and commercial complex near Dubai’s
downtown. The JV is backed by the Dubai government and
plans to construct a commercial center, low and mid-rise
residences, an 18-hole golf course and other facilities to be built
over 11mn square metres. (Gulf-Times.com)
US firms plans to set up MRO units in Dubai – The Dubai
Aviation City Corporation’s CEO Rashed Bu Qara’a said a
number of foreign investors – mainly from the US – are in talks
to set up maintenance, repair, & overhaul (MRO) service units at
the upcoming Dubai World Central airport. He said the US
companies seek to take advantage of Dubai’s aviation
infrastructure in order to expand in the Middle East and African
regions. (GulfBase.com)
Dubai Mall commences its expansion work – The Dubai Mall
has commenced its first phase of expansion by around 1mn
square feet. The expansion project builds on Dubai's new
Tourism Vision 2020. (AME Info)
Severn Trent again rejects takeover offer – UK-based water
company Severn Trent has again rejected an enhanced
takeover offer from a group of investors including a Canadian
infrastructure investor and the Kuwait sovereign wealth fund
(SWF). (Bloomberg)
GIH’s 1Q2013 losses narrow – Kuwait-based Global
Investment House’s (GIH) losses contracted to KD3.93mn in
1Q2013 from a loss of KD11.04mn in 1Q2012, mainly due to a
sharp decrease in losses from discontinued operations. Losses
from discontinued operations narrowed down to KD4.91mn from
KD10.34mn in 1Q2012. Total assets stood at KD499.5mn at the
end of March 2013, inching up 0.3% YTD. (Bloomberg)
Oman awards tenders worth OMR20.5mn – Oman’s Tender
Board has awarded several infrastructure development projects
worth OMR20.5mn. (GulfBase.com)
Sembcorp plans IPO of utility JV in Oman – Singapore-based
Sembcorp Industries Ltd said it is planning to issue an IPO of its
JV company that operates a $1bn water & power project in
Oman by 4Q2013. (GulfBase.com)
Raysut’s board clears terminal, grinding expansion projects
– Raysut Cement Company’s board of directors has approved
four expansion projects at an estimated cost of $24mn, which
will be internally funded. These projects are: modern cement
terminals at Duqm port and Somalia's Berbera port, a grinding
plant in Mukulla (Yemen) and enhancing production capacity of
its Pioneer Cement Industries in Ras Al Khaimah.
(GulfBase.com)
Gulf Air to buy 10 CSeries jets from Bombardier – Gulf Air
has placed an order for 10 CS100 jets, part of Bombardier's
much-anticipated CSeries fleet of aircraft. Gulf Air also has
options for six additional planes. The CS100 jets are set to see
their first flight in June 2013 and are expected to enter into
commercial service in 2014. (GulfBase.com)
5. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@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 (* Closed on June 06, 2013)
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QEIndex S&P Pan Arab S&P GCC
0.4%
(0.2%)
0.0%
(0.7%)
0.0% 0.0% 0.0%
(0.9%)
(0.6%)
(0.3%)
0.0%
0.3%
0.6%
SaudiArabia
Qatar
Kuwait*
Bahrain
Oman*
AbuDhabi*
Dubai*
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,383.05 (2.2) (0.4) (17.4) DJ Industrial 15,248.12 1.4 0.9 16.4
Silver 21.66 (4.4) (2.7) (28.6) S&P 500 1,643.38 1.3 0.8 15.2
Crude Oil (Brent) 104.52 1.2 4.5 (7.4) NASDAQ 100 3,469.22 1.3 0.4 14.9
Euro 1.32 (0.2) 1.7 0.2 DAX 8,254.68 1.9 (1.1) 8.4
Yen 97.56 0.6 (2.9) 12.5 FTSE 100 6,411.99 1.2 (2.6) 8.7
GBP 1.56 (0.3) 2.4 (4.3) CAC 40 3,872.59 1.5 (1.9) 6.4
CHF 1.07 (0.7) 2.1 (2.2) Nikkei 12,877.53 (0.2) (6.5) 23.9
AUD 0.95 (1.0) (0.8) (8.6) Shanghai 2,210.90 (1.4) (3.9) (2.6)
USD Index 81.67 0.2 (2.0) 2.4 BSE Sensex 19,429.23 (0.5) (1.7) 0.0
RUB 32.16 (0.1) 0.9 5.4 Bovespa 51,618.63 (2.4) (3.5) (15.3)
BRL 0.47 (0.3) 0.3 (3.9) RTS 1,314.41 2.1 (1.3) (13.9)
133.5
121.1
110.4