1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.3% to close at 11,388.1. Losses were led by the
Industrials and Real Estate indices, declining 0.8% and 0.6% respectively. Top
losers were Qatar Gas Transport Co. and Gulf International Services, falling
6.0% and 5.8% respectively. Among the top gainers, Doha Bank and Mazaya
Qatar Real Estate Dev. rose 3.7% and 3.3 respectively.
GCC Commentary
Saudi Arabia: The TASI index fell 0.1% to close at 9,318.6. Losses were led
by the Telecom. & Info. Tech. and Banking & Fin. Ser. indices, declining 0.6%
each. Etihad Atheeb fell 5.5%, while Alinma Tokio Marine was down 3.0%.
Dubai: The DFM index gained 0.5% to close at 4,255.6. The Real Estate &
Construction and Banking indices rose 0.7% each. Arab Insurance Group
surged 14.7%, while Al Salam Sudan was up 6.6%.
Abu Dhabi: The ADX benchmark index declined 0.2% to close at 4,836.4. The
Services index fell 2.4%, while the Inv. & Fin. Services index was down 1.9%.
Emirates Driving Co. declined 8.8%, while Union Cement Co. was down 5.2%.
Kuwait: The KSE index rose 1.0% to close at 7,535.9. The Technology index
gained 2.3%, while Insurance index was up 1.8%. Kuwait Hotels Co. rose
7.8%, while Wethaq Takaful Insurance Co. was up 7.4%.
Oman: The MSM index declined 0.3% to close at 6,999.7. Losses were led by
the Services and Industrial indices, declining 0.5% & 0.3% respectively. Port
Services Corporation fell 7.3%, while Financial Services was down 6.5%.
Bahrain: The BHB index fell 0.2 to close at 1,371.6. The Investment index
declined 0.5%, while Services index was down 0.2%. Seef Properties Co. fell
2.6%, while Arab Banking Corporation was down 1.8%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Doha Bank 59.30 3.7 307.2 1.9
Mazaya Qatar Real Estate Dev. 12.99 3.3 3,330.0 16.2
Masraf Al Rayan 38.45 2.3 1,836.7 22.8
Widam Food Co. 46.25 1.5 418.5 (10.5)
Qatar & Oman Investment Co. 12.43 1.5 20.1 (0.7)
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 12.99 3.3 3,330.0 16.2
Masraf Al Rayan 38.45 2.3 1,836.7 22.8
Mesaieed Petrochemical Holding 35.50 (1.7) 1,414.0 255.0
Qatar Gas Transport Co. 19.84 (6.0) 986.9 (2.0)
Barwa Real Estate Co. 35.30 (1.4) 950.9 18.5
Source: Bloomberg (* in QR)
Market Indicators 19 Mar 14 18 Mar 14 %Chg.
Value Traded (QR mn) 619.9 779.9 (20.5)
Exch. Market Cap. (QR mn) 636,389.0 638,289.2 (0.3)
Volume (mn) 14.7 15.4 (4.5)
Number of Transactions 9,092 9,805 (7.3)
Companies Traded 41 40 2.5
Market Breadth 14:22 17:18 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,838.36 (0.0) 0.8 13.5 N/A
All Share Index 2,912.18 (0.0) 0.9 12.5 14.9
Banks 2,752.88 0.6 (0.3) 12.7 14.4
Industrials 4,022.69 (0.8) 2.5 14.9 15.6
Transportation 1,985.14 (0.4) (0.9) 6.8 13.8
Real Estate 2,153.75 (0.6) (0.9) 10.3 19.4
Insurance 2,801.92 0.1 3.5 19.9 7.7
Telecoms 1,497.70 (0.3) 1.4 3.0 20.6
Consumer 6,905.98 (0.3) 3.2 16.1 30.1
Al Rayan Islamic Index 3,481.83 0.1 1.2 14.7 18.8
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Tihama Saudi Arabia 181.75 10.0 705.5 65.6
National Investments Kuwait 0.15 5.6 1,055.5 (5.0)
Arabtec Holding Co. Dubai 5.55 5.1 178,236.3 93.4
Nat. Mobile Telecom. Kuwait 1.90 4.4 12.0 8.0
IFA Hotels & Resorts Kuwait 0.27 3.9 17.3 (7.0)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Qatar Gas Transport Qatar 19.84 (6.0) 986.9 (2.0)
Gulf International Serv. Qatar 79.50 (5.8) 602.1 62.9
Etihad Atheeb Tele. Saudi Arabia 16.25 (5.5) 21,687.2 12.8
Abu Dhabi Nat. Hotels Abu Dhabi 3.70 (5.1) 5.0 19.4
Sharjah Islamic Bank Abu Dhabi 2.11 (3.2) 397.9 37.0
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 Gas Transport Co. 19.84 (6.0) 986.9 (2.0)
Gulf International Services 79.50 (5.8) 602.1 62.9
Mesaieed Petrochemical Holding 35.50 (1.7) 1,414.0 255.0
Barwa Real Estate Co. 35.30 (1.4) 950.9 18.5
Dlala' Brokerage & Inv. Holding 23.00 (1.3) 53.7 4.1
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 38.45 2.3 71,055.3 22.8
QNB Group 178.70 (0.2) 67,517.0 3.9
Qatari Investors Group 55.30 0.0 50,891.1 26.5
Mesaieed Petrochemical Holding 35.50 (1.7) 50,458.0 255.0
Gulf International Services 79.50 (5.8) 49,367.9 62.9
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* 11,388.14 (0.3) 0.4 (3.3) 9.7 170.23 174,752.4 15.2 1.9 4.3
Dubai 4,255.57 0.5 6.9 0.8 26.3 689.98 86,330.9 18.0 1.6 2.2
Abu Dhabi 4,836.43 (0.2) 1.7 (2.5) 12.7 187.40 130,029.4 13.8 1.7 3.6
Saudi Arabia 9,318.63 (0.1) (0.7) 2.3 9.2 1,982.23 505,899.5 18.8 2.3 3.2
Kuwait 7,535.89 1.0 1.1 (2.0) (0.2) 168.87 112,177.7 15.9 1.2 3.8
Oman 6,999.68 (0.3) (0.9) (1.6) 2.4 21.54 25,189.5 11.1 1.6 3.7
Bahrain 1,371.64 (0.2) (0.2) (0.1) 9.8 2.64 51,855.1 9.7 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)
11,380
11,390
11,400
11,410
11,420
11,430
11,440
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 0.3% to close at 11,388.1. The Industrials
and Real Estate indices led the losses. The index fell on the back
of selling pressure from non-Qatari shareholders despite buying
support from Qatari shareholders.
 Qatar Gas Transport Co. and Gulf International Services were
the top losers, falling 6.0% and 5.8% respectively. Among the
top gainers, Doha Bank and Mazaya Qatar Real Estate Dev.
rose 3.7% and 3.3 respectively.
 Volume of shares traded on Wednesday fell by 4.5% to 14.7mn
from 15.4mn on Tuesday. However, as compared to the 30-day
moving average of 14.2mn, volume for the day was 3.5% higher.
Mazaya Qatar Real Estate Dev. and Masraf Al Rayan were the
most active stocks, contributing 22.6% and 12.5% 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
03/19 US BMA MBA Mortgage Applications 14-March -1.20% – -2.10%
03/19 US Federal Reserve Fed QE3 Pace March $55 $55 $65
03/19 US Federal Reserve Fed Pace of Treasury Pur March $30 $30 $35
03/19 US Federal Reserve Fed Pace of MBS Purchases March $25 $25 $30
03/19 US Federal Reserve FOMC Rate Decision 19-March 0.25% 0.25% 0.25%
03/19 EU Eurostat Construction Output MoM January 1.50% – 1.30%
03/19 EU Eurostat Construction Output YoY January 8.80% – -0.10%
03/19 EU Eurostat Labour Costs YoY 4Q2013 1.40% – 1.10%
03/19 Japan Ministry of Finance Exports YoY February 9.8 12.5 9.5
03/19 Japan Ministry of Finance Imports YoY February 9.0 7.2 25.1
03/19 Japan METI All Industry Activity Index MoM January 1.00% 1.10% -0.30%
03/19 Japan ESRI Leading Index CI January 113.1 – 112.2
03/19 Japan ESRI Coincident Index January 115.2 – 114.8
03/19 Japan Japan Dep. Store Asso. Nationwide Dept Sales YoY February 3.00% – 2.90%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 MEED: Tenders for 10 new stadiums to be issued in 2014 –
Qatar, whose projects market witnessed a 21% growth in 2013
and is slated to see new deals worth $140bn-150bn in 2014, will
soon invite tenders for some 10 projects related to hosting the
2022 World Cup. According to the MEED Insight Report, with an
average yearly $16bn outlay during 2008-13, Qatar accounted
for 12% ($96bn) of the total projects awarded in the GCC region.
Yasser al-Mulla, Project Manager at Al-Rayyan Precinct for
Supreme Committee for Delivery & Legacy said Qatar will issue
some 10 tenders in 2014 for project managers and design
consultants on the stadiums being built for the games. Doha
expects to spend an additional $4bn for building stadiums and
related sporting infrastructure for the World Cup. The largest
new stadium planned is „Lusail Iconic‟, which will have a
capacity of around 86,000 people and is to be used for the
opening match and the finals. (Gulf-Times.com)
 Qatar issues $2.2bn tender for Doha Metro phase one –
Qatar has issued a new tender for phase one of the Doha Metro,
a key infrastructure project in the Gulf country as it prepares to
host the 2022 World Cup. According to sources, the tender,
issued earlier this month, is for the rolling stock, systems, depot
facilities, track work and other aspects of Doha Metro. The
tender, which could cross $2.2bn, would be the final one for the
metro‟s phase one and the contract is expected to be awarded
in the next five months. Last year, Qatar awarded four design &
build contracts worth about $8.2bn for phase one of the Doha
Metro. These contracts were given to local and international
companies including Italian construction firm Impregilo and
France‟s Vinci Construction among others. (Gulf-Times.com)
 DSI Qatar is looking to consolidate plans – Drake & Scull
Qatar (DSI Qatar) outlined its expansion plans and is aiming to
consolidate its position in Qatar. Qatar is a dynamic market with
its total infrastructure spending expected to reach $24bn in
2014. DSI Qatar‟s Area General Manager Karem Akawi said
that the company expects an influx of large-scale projects to be
unveiled soon, in line with the long-term national goals
associated with the FIFA 2022 World Cup and the Qatar
National Vision 2030. Akawi said the company is aiming to
consolidate its position as a leader in the engineering &
construction sector by winning projects in newer segments in
2014. Further, he added that the hospitality sector is also
making rapid strides, and several mega projects are in the
pipeline by 2016. (Gulf-Times.com)
 Sheikh Abdullah elected as CBQK’s Chairman – The
Commercial Bank of Qatar (CBQK) announced that Sheikh
Abdullah bin Ali bin Jabor al-Thani has been elected as the
Chairman of its board of directors. Hussein Alfardan was elected
Overall Activity Buy %* Sell %* Net (QR)
Qatari 58.11% 56.88% 7,611,786.45
Non-Qatari 41.89% 43.11% (7,611,786.45)

3. Page 3 of 5
Vice-Chairman as well as Managing Director. Meanwhile,
CBQK‟s shareholders approved all resolutions at the AGM and
EGM. (Gulf-Times.com)
 QEERI to produce 1,000MW from solar energy by 2020 –
The Qatar Foundation Research & Development (QFRD) will
have at least 500 top quality scientists working for its various
research projects, including Qatar Energy & Environment
Research Institute (QEERI) projects, by 2018. According to the
QEERI‟s Research Director Said Mansour, Qatar Foundation is
developing additional facilities to meet the demand for its
research and related programs. Mansour said the institute is
working toward its goal to turn Qatar into a knowledge-based
economy in line with the Qatar National Vision 2030. Further, he
added that QEERI is working on plans to generate 1,000 MW of
solar energy by 2020 and the number of scientists working for
QFRD projects would reach 2,000 by then. (Gulf-Times.com)
 QA plans 50-Airbus fleet for new Saudi unit – Qatar Airways
(QA) plans to build a fleet of 50 Airbus aircraft for a new airline
in Saudi Arabia named „Al Maha‟, which is slated to start
operations this year with a focus on domestic and regional
flights. QA‟s CEO Akbar Al Baker said Al Maha will fly with 10
aircraft in the first year, before adding 10 to 15 planes annually
until it reaches strength of 50 Airbus planes. He said the fleet
will be a combination of Qatar owned planes as well as leased
aircraft. (Bloomberg)
 VFQS, Advanced Technologies & Solutions sign deal –
Vodafone Qatar (VFQS) and Advanced Technologies &
Solutions have signed a partnership agreement to deliver
vehicle tracking solutions and software development services to
businesses across the country. (GulfBase.com)
International
 US Fed revamps rates guidance, trims bond buys further –
The US Federal Reserve dropped the country‟s unemployment
rate as its definitive yardstick for gauging the US economy's
strength, and made clear it would rely on a wide range of
measures in deciding when to raise interest rates. At the same
time, the Fed said that dropping a promise to hold rates steady
well past the time the US unemployment rate falls below 6.5%
did not indicate any change in the Fed's policy intentions.
Meanwhile, the central bank proceeded with the planned
reduction of its massive bond-buying stimulus, announcing it
would cut its monthly purchases of US Treasuries and
mortgage-backed securities to $55 billion from $65 billion.
(Reuters, ET)
 Mark Carney announces complete restructuring of BoE –
The Bank of England (BoE) governor Mark Carney announced a
complete overhaul of the UK's central bank, both in its
operations and management. In a radical departure from his
predecessors, the governor said the almost exclusive focus on
inflation targets in the past contributed to the central bank‟s
failure to maintain financial stability. He stated the reductionist
vision of a central bank's role that was adopted around the world
was fatally flawed. Carney said that given a low interest regime,
the bank will come under increasing pressure to maintain
financial stability, and there is a need to bring its monetary policy
and bank regulation activities closer together to maintain its
oversight of the markets and banks. (ET)
 BoJ: China's job conditions could improve as it rebalances
economy – The Bank of Japan (BoJ) Governor Haruhiko
Kuroda said that China's employment conditions could improve
even as its growth slows, with the economy undergoing a huge
rebalancing in order to focus toward domestic demand-led
growth. Kuroda said Japan, too, is benefiting from a domestic
demand-led growth, which has led to a tighter labor market.
Kuroda further added that the Japanese economy, like the US,
is becoming a more service sector-oriented economy in the
medium to long-term. (Reuters)
Regional
 SHB’s EGM approves SR396.9mn dividend, capital increase
– Saudi Hollandi Bank‟s (SHB) EGM has approved the board of
directors‟ recommendation for the distribution of 10% dividend
(SR1 per share), amounting to SR396.9mn. Further, the EGM
has approved the board‟s recommendation to increase the
bank‟s capital from SR3,969mn to SR4,762.8mn by issuing one
bonus share for every five existing shares. This increase will be
paid by transferring SR793.8mn from the retained earnings
account to the company‟s capital. Consequently, the company's
outstanding shares will increase from 396.9mn to 476.28mn
shares. (Tawadul)
 JODI: Kingdom boosts oil shipments in January – According
to the Joint Organisations Data Initiative (JODI), Saudi Arabia
boosted its crude oil exports by 5.6% in January 2014.
According to JODI statistics, the Kingdom shipped 7.5mn bpd in
January 2014, up from 7.1mn a year ago, but exports remained
unchanged from December 2013. As per the latest data from the
Energy Information Administration (EIA), the US imported
1.52mn bpd of Saudi crude in December 2013, up from 1.03mn
bpd a year earlier. (Bloomberg)
 Tadawul deposits SHB’s bonus shares – The Saudi Stock
Exchange (Tadawul) announced the addition of Saudi Hollandi
Bank‟s bonus shares into its investors‟ portfolios. The fluctuation
limits for SHB shares on March 19, 2014 will be based on a
stock price of SR41. (Tadawul)
 GE expands Manufacturing Technology Center – General
Electric will begin manufacturing its high efficiency gas turbines
at the GE Manufacturing Technology Center located at
Dammam Industrial City-II. GE will manufacture its most
advanced gas turbines at the center, which is expected to roll
out in 2016. The expanded facility will create several direct and
indirect jobs, and will have the capability to produce 8-10 gas
turbines per year. (GulfBase.com)
 Nakheel inks AED563mn worth of project deals – Nakheel
has confirmed the awarding of three contracts with a combined
value of AED563mn for projects at two of its communities – Al
Furjan and the International City. Two contracts worth
AED526mn are for the construction of 401 villas and terraced
houses at the Al Furjan development. As per the contract terms,
construction is due for completion in 18 months. Meanwhile,
Nakheel has also awarded a contract for AED36.8mn to Metac
General Contracting Co to build a new retail center at the
International City. Construction of the 79,000-square foot
shopping and dining facility is scheduled to be completed in 12
months. (Bloomberg)
 DED: Dubai may set up Shari’ah-compliant exim bank – The
Department of Economic Development (DED) said that Dubai‟s
government will consider establishing the world‟s first Shari‟ah-
compliant export-import bank to promote the Emirate‟s foreign
trade. DED said that the bank would provide financing to
companies involved in trade, while helping them to reduce their
risks and gain market access. Further, DED said that the Noor
Investment Group, which is affiliated to Investment Corp of
Dubai, will advise on the project. (Gulf-Times.com)
 NGI declares 20% cash dividend – The National General
Insurance Company‟s (NGI) AGM has approved its board of
directors‟ recommendation to distribute 20% cash dividend to
the shareholders. (DFM)

4. Page 4 of 5
 Arabtec’s BoD recommends 10% dividend, 30% bonus
shares – Arabtec Holding‟s board of directors has
recommended the distribution of 10% dividend and 30% bonus
shares for the year ended December 31, 2013. (DFM)
 Two Abu Dhabi banks vie for Barclays UAE retail unit –
According to sources, two Abu Dhabi lenders have emerged as
frontrunners to buy most of Barclays‟ retail banking operations in
the UAE. Sources said that Abu Dhabi Commercial Bank and
Abu Dhabi Islamic Bank are vying to take control of the assets,
after the British lender said in September it would offload its
retail portfolio in the Arab state including credit cards,
mortgages, personal lending and deposit-taking operations. A
final decision is expected in April 2014 after completing the
competitive bidding process. Barclays plans to retain two
branches in the UAE, while its wealth management business
would not be part of the sale. (Gulf-Times.com)
 Etihad raises stake in Aer Lingus to 4.1% – Etihad Airways
has raised its stake in Aer Lingus to 4.1% after acquiring more
shares in the open market last week. Etihad has now increased
its stake to 22mn shares from 16.1mn. (GulfBase.com)
 NBF declares AED137.5mn cash dividend – The National
Bank of Fujairah‟s (NBF) AGM has approved the board‟s
recommendation for distribution of 12.5% cash dividend,
amounting to AED137.5mn to the shareholders. (ADX)
 Finance House receives approval for share buyback –
Finance House has secured an approval from the UAE Central
Bank and the Securities & Commodities Authority for a share
buyback program of up to 10% (30.25mn shares) of its paid-up
capital. (ADX)
 Al Hosn Gas achieves 93% progress on Shah Gas Project –
Abu Dhabi Gas Development Company‟s (Al Hosn Gas) CEO,
Saif Ahmed Al Ghafli, said that the company has achieved a
cumulative progress of 93% in Shah Gas Development Project
in 2013. The drilling program is about five months ahead of the
baseline schedule with 15 of the initial 20 wells ready for
production at end of 2013. (GulfBase.com)
 Oman's GDP expands 3% in 2013 – The Minister of
Commerce & Industry said that Oman‟s GDP expanded by 3%
to $80.1bn in 2013. The minister said non-oil exports increased
by 6% to $9.8bn in 2013. The value of re-exports soared 42%,
increasing from $6.4bn in 2012 to $9.1bn in 2013. (Bloomberg)
 Bank Muscat expands EMTN plan – Bank Muscat increased
the amount of the Euro Medium Term Note (EMTN) program to
$2bn from $800mn, which was approved at the bank's EGM in
2011. The EMTN program involves issuing negotiable bonds in
the international markets through public subscription or private
placement. The shareholders at the EGM also approved the
setting up of OMR500mn, or its equivalent in other currencies,
Meethaq Sukuk Program for the issuance of sukuk by Meethaq
in various tranches in the Muscat Securities Market and
international markets through public subscription or private
placement. The shareholders also granted approval for the
setting up of SR1bn sukuk program by the bank's branch in
Saudi Arabia through public subscription or private placement.
The board of directors' recommendation to issue convertible
bonds at the rate of 15% per share of the issued share capital of
the bank, as part of the dividend for 2013, also received the
endorsement of shareholders. For the year 2013, the bank will
give 40% dividend, 25% in cash and 15% in the form of
mandatory convertible bonds. (Bloomberg)
 ONEIC declares 15% cash dividend – Oman National
Engineering & Investment Company‟s (ONEIC) AGM has
approved its board‟s recommendation for distributing 15% cash
dividend (15 baizas per share) to the shareholders. (MSM)
 GFH eyes share capital reduction, convertible sukuk –
Bahrain-based Gulf Finance House (GFH) will seek its
shareholders‟ approval later this month for a potential reduction
in share capital and to issue a convertible sukuk of up to
$500mn to restructure debt and fund new projects. The Islamic
investment firm has been repeatedly forced into restructuring its
debt after the firm struggled during the global financial crisis.
Under the proposal, GFH will reduce the nominal value of its
shares by 13.8% to $0.265 per share from $0.3075. As a result,
its paid-up capital will be reduced to $837mn from $972mn.
Meanwhile, GFH, through its Dubai subsidiary GFH Capital, has
agreed to sell 75% stake in English soccer club, Leeds United to
Italian Massimo Cellino last month. (Reuters)
 WTTC: Bahrain travel & tourism to grow 7.6% in 2014 –
According to a report by the World Travel & Tourism Council
(WTTC), Bahrain's travel and tourism industry is expected to
grow 7.6% in 2014, contributing BHD1.23bn or 10.2% of the
country‟s GDP. The total contribution of travel & tourism to the
country's employment, including jobs indirectly supported by the
sector, rose to 73,740, about 10% of total employment.
Similarly, the sector‟s investment surged to BHD154.5mn or
6.8% of total investment. It is projected to rise by 6.6% in 2014.
(GulfBase.com)
 KHCB appoints new Chairman, Vice Chairman – Khaleeji
Commercial Bank (KHCB) has appointed Dr. Ahmed Al Mutawa
as the Chairman and Abdul Rahman Jamsheer as the Vice
Chairman for the next three years. (Bahrain Bourse)
 ABG declares $82.2mn dividends – Al Baraka Banking
Group‟s (ABG) has approved the distribution of 7.85% dividends
worth $82.2mn for 2013. These dividends will be distributed in
terms of 3.5% cash dividend, amounting to $36.7mn and 4.35%
stock dividend, amounting to $45.5mn. (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
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,
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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
(0.1%)
(0.3%)
1.0%
(0.2%)
(0.3%) (0.2%)
0.5%
(0.4%)
0.0%
0.4%
0.8%
1.2%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,329.63 (1.9) (3.9) 10.3 DJ Industrial 16,222.17 (0.7) 1.0 (2.1)
Silver/Ounce 20.61 (1.0) (3.9) 5.9 S&P 500 1,860.77 (0.6) 1.1 0.7
Crude Oil (Brent)/Barrel (FM
Future)
105.85 (0.9) (2.5) (4.5) NASDAQ 100 4,307.60 (0.6) 1.5 3.1
Natural Gas (Henry
Hub)/MMBtu
4.44 0.0 1.4 2.3 STOXX 600 327.63 (0.1) 1.7 (0.2)
North American Spot LPG
Propane Price
104.00 (1.8) (1.8) (17.8) DAX 9,277.05 0.4 2.4 (2.9)
North American Spot LPG
Normal Butane Price
119.75 (0.2) (1.0) (11.8) FTSE 100 6,573.13 (0.5) 0.7 (2.6)
Euro 1.38 (0.7) (0.6) 0.7 CAC 40 4,308.06 (0.1) 2.2 0.3
Yen 102.32 0.9 0.9 (2.8) Nikkei 14,462.52 0.4 0.9 (11.2)
GBP 1.65 (0.3) (0.6) (0.1) MSCI EM 950.59 (0.2) 1.4 (5.2)
CHF 1.14 (0.9) (1.0) 1.4 SHANGHAI SE Composite 2,021.73 (0.2) 0.9 (4.5)
AUD 0.90 (0.9) 0.2 1.4 HANG SENG 21,568.69 (0.1) 0.1 (7.5)
USD Index 80.00 0.7 0.7 (0.0) BSE SENSEX 21,832.86 0.0 0.1 3.1
RUB 35.96 (0.8) (1.8) 9.4 Bovespa 46,567.23 0.9 3.6 (9.6)
BRL 0.43 (0.4) 0.1 0.7 RTS 1,155.81 (0.5) 8.8 (19.9)
163.6
146.0
133.3