1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 2.3% to close at 9,547.7. Losses were led by the
Transportation and Real Estate indices, declining 5.2% and 4.5% respectively.
Top losers were Qatar Cinema & Film Dist. Co. and Islamic Holding Group,
falling 8.7% and 8.4% respectively. Among the top gainers, Qatar General Ins.
& Rein. Co. rose 1.2%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.4% to close at 7,751.3. Gains were led
by the Telecom. & Info. Tech. and Agri. & Food Ind. indices, rising 1.3% and
1.1% respectively. Bank AlBilad rose 4.1%, while Nama Chem. was up 2.6%.
Dubai: The DFM index declined 1.3% to close at 2,516.5. The
Telecommunication index fell 5.0%, while the Services index was down 3.7%.
Ekttitab Holding Co. declined 9.8%, while Tamweel was down 9.7%.
Abu Dhabi: The ADX benchmark index fell 2.2% to close at 3,737.2. The Real
Estate index declined 4.3%, while the Banking index was down 2.5%. Green
Crescent Ins. Co. fell 10.0%, while Eshraq properties Co. was down 9.3%.
Kuwait: The KSE index declined 0.8% to close at 7,707.7. The Technology
index fell 2.1%, while the Real Estate index was down 1.8%. Gulf Franchising
Holding Co. declined 9.1%, while National Ranges Co. was down 7.4%.
Oman: The MSM index fell 3.0% to close at 6,640.9. Losses were led by the
Banking & Investment and Ind. indices, declining 3.8% and 2.5% respectively.
ACWA Power Barka fell 9.1%, while Al Anwar Holding was down 8.7%.
Bahrain: The BHB index gained 0.3% to close at 1,189.8. The Industrial index
rose 0.9%, while the Commercial Banking index was up 0.5%. Ithmaar Bank
gained 4.3%, while National Bank of Bahrain was up 2.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Rein. Co. 51.50 1.2 3.3 12.0
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. 17.80 (6.6) 4,562.6 16.6
United Development Co. 20.96 (5.1) 1,958.1 17.8
Vodafone Qatar 8.94 (1.7) 1,384.3 7.1
Masraf Al Rayan 28.40 (2.6) 1,204.6 14.6
Industries Qatar 154.00 (2.2) 1,072.7 9.2
Market Indicators 28 Aug 13 27 Aug 13 %Chg.
Value Traded (QR mn) 770.5 534.7 44.1
Exch. Market Cap. (QR mn) 523,545.3 535,877.2 (2.3)
Volume (mn) 19.1 12.3 55.7
Number of Transactions 8,974 5,878 52.7
Companies Traded 42 39 7.7
Market Breadth 1:40 3:35 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,641.51 (2.3) (5.6) 20.6 N/A
All Share Index 2,408.65 (2.2) (5.2) 19.6 12.7
Banks 2,344.94 (1.8) (4.8) 20.3 12.4
Industrials 3,071.57 (2.2) (4.8) 16.9 11.3
Transportation 1,681.61 (5.2) (10.5) 25.5 11.5
Real Estate 1,697.11 (4.5) (7.1) 5.3 12.8
Insurance 2,228.25 (0.7) (2.2) 13.5 9.2
Telecoms 1,436.05 (1.3) (4.6) 34.8 15.1
Consumer 5,762.77 (2.6) (4.2) 23.4 24.1
Al Rayan Islamic Index 2,714.95 (3.1) (6.5) 9.1 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Islamic Bank Abu Dhabi 4.99 6.9 982.9 56.9
IFA Hotels & Resorts Kuwait 0.70 6.1 0.5 59.1
Ithmaar Bank Bahrain 0.25 4.3 113.6 44.1
Bank Albilad Saudi Arabia 30.70 4.1 1,723.5 44.3
Al Ahli Bank of Kuwait Kuwait 0.49 3.2 172.7 (6.4)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Sharjah Islamic Bank Abu Dhabi 1.35 (6.9) 889.8 46.7
Deyaar Development Dubai 0.47 (6.7) 135,229.8 33.5
Qatar Gas Trans. Co. Qatar 17.80 (6.6) 4,562.6 16.6
Gulf Warehousing Co. Qatar 39.00 (5.8) 60.5 16.4
United Development Qatar 20.96 (5.1) 1,958.1 17.8
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 Cinema & Film Dist. Co. 50.10 (8.7) 0.8 (12.0)
Islamic Holding Group 37.00 (8.4) 23.9 (2.6)
Dlala Brok. & Inv. Holding Co. 18.61 (8.1) 109.2 (40.1)
Qatar Meat & Livestock Co. 51.20 (6.6) 261.2 (12.9)
Qatar Gas Transport Co. 17.80 (6.6) 4,562.6 16.6
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 154.00 (2.2) 163,900.1 9.2
Qatar Gas Transport Co. 17.80 (6.6) 81,718.4 16.6
Ooredoo 139.10 (1.2) 63,351.2 33.8
QNB Group 169.40 (1.8) 50,831.2 29.4
United Development Co. 20.96 (5.1) 40,656.3 17.8
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* 9,547.73 (2.3) (5.6) (1.6) 14.2 211.58 143,765.5 12.0 1.7 4.8
Dubai 2,516.48 (1.3) (6.8) (2.8) 55.1 331.70 63,150.5 14.6 1.0 3.2
Abu Dhabi 3,737.24 (2.2) (5.4) (2.9) 42.1 169.17 108,447.1 10.6 1.3 4.8
Saudi Arabia 7,751.32 0.4 (5.4) (2.1) 14.0 2,147.32 411,317.7 16.2 2.0 3.8
Kuwait 7,707.66 (0.8) (4.9) (4.5) 29.9 160.43 108,685.7 18.8 1.2 3.7
Oman 6,640.90 (3.0) (3.8) (0.0) 15.3 42.13 23,178.8 11.0 1.6 4.1
Bahrain 1,189.78 0.3 (1.1) (0.4) 11.7 0.34 21,791.8 8.3 0.9 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)
9,300
9,400
9,500
9,600
9,700
9,800
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 2.3% to close at 9,547.7. The
Transportation and Real Estate indices led the losses. The index
declined on the back of selling pressure from non-Qatari
shareholders despite buying support from Qatari shareholders.
 Qatar Cinema & Film Dist. Co. and Islamic Holding Group were
the top losers, falling 8.7% and 8.4% respectively. Among the
top gainers, Qatar General Ins. & Rein. Co. rose 1.2%.
 Volume of shares traded on Wednesday rose by 55.7% to
19.1mn from 12.3mn on Tuesday. Further, as compared to the
30-day moving average of 7.0mn, volume for the day was
171.5% higher. Qatar Gas Transport Co. and United
Development Co. were the most active stocks, contributing
23.8% and 10.2% 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
08/28 US MBA MBA Mortgage Applications 23-August -2.50% – -4.60%
08/28 US Nat. Assoc. of Realtors Pending Home Sales MoM July -1.30% 0.00% -0.40%
08/28 US Nat. Assoc. of Realtors Pending Home Sales YoY July 8.60% 7.90% 9.10%
08/28 EU ECB M3 Money Supply YoY July 2.20% 2.00% 2.40%
08/28 EU ECB M3 3-month average July 2.50% 2.40% 2.80%
08/28 Germany Destasis Import Price Index MoM July 0.30% 0.30% -0.80%
08/28 Germany Destasis Import Price Index YoY July -2.60% -2.50% -2.20%
08/28 Germany GfK GfK Consumer Confidence September 6.9 7.1 7.0
08/28 UK CBI CBI Reported Sales August 27 20 17
08/28 Italy ISTAT Retail Sales MoM June -0.20% 0.00% 0.10%
08/28 Italy ISTAT Retail Sales YoY June -3.00% – -1.20%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar’s foreign trade surplus at QR32.1bn in June –
According to the data released by Qatar’s Ministry of
Development Planning & Statistics (MDPS), the country’s
international trade balance of goods in June 2013 showed a
surplus of QR32.1bn, indicating an increase of 2.0% YoY. Total
exports of goods (including exports of domestic origin and re-
exports) increased 2.4% YoY to QR39.8bn, whereas the value
of imports went up 4.1% YoY to QR7.6bn. The data showed that
an increase in total exports was mainly due to petroleum oils &
oils from bituminous minerals (crude) that showed an increase
of 9.6% YoY. However, this increase was partially offset by the
drop in exports of petroleum oils & oils from bituminous minerals
(not crude). The main destination countries were Japan with a
share of 28% of total exports, followed by South Korea (18%)
and India (11%). Motor cars & other passenger vehicles, aircraft
spare parts and telephones were the main imported products in
June 2013. The US was the leading exporting country with a
share of 13%, followed by China with 11% and UAE with 8%.
(QSA)
 Qatari Emir approves oil & gas ties with Algeria – Qatar’s
Emir HH Sheikh Tamim bin Hamad Al Thani has issued a
document ratifying a MoU between Qatar and Algeria on
cooperation in the oil & gas sector. (Peninsula Qatar)
 Qatar, Uganda update air service agreement – Qatar and
Uganda have agreed to update their air service agreement,
which the two countries have already signed. Qatar’s Civil
Aviation Authority has signed an open sky air services
agreement with the Republic of Uganda, which entitles Qatar
Airways to operate unlimited weekly flights between both
countries. On a separate signing ceremony, Qatar and Burundi
signed an agreement that allows national carriers of both
countries to operate seven weekly flights for passengers and
cargo services between Doha and Bujumbura, Burundi. It also
allows code sharing and operations within both intermediate and
beyond points. (Bloomberg)
 Japan to build partnership with Qatar, urges Qatar to lift
curbs on food imports – Japan's Prime Minister Shinzo Abe
said his country and Qatar have agreed to build a partnership for
stability and prosperity. Japan is keen to expand the scope of
economic and trade relations with Qatar into other sectors such
as medical and educational services and infrastructure as it
found limited room for trade within the hydrocarbon sphere.
Further, Japan has urged Qatar to lift restrictions on food
imports from the Asian country and said it is high time that a free
trade agreement with the GCC is signed at the earliest to spruce
up investments. (Gulf-Times.com)
 Cebu Pacific Air planning flights to Doha – Philippines-based
Cebu Pacific Air is planning to begin flights to Doha, Qatar. It is
the second Philippine airline planning to fly to Qatar after the
flag-carrier, Philippine Airlines (PAL). (Bloomberg)
 QDB launches new export guidebook – The Qatar
Development Bank (QDB) announced the launch of Trade
Secrets, a guidebook developed in association with the
International Trade Centre (ITC), a United Nations agency
based in Geneva, Switzerland. This book provides Qatari
Overall Activity Buy %* Sell %* Net (QR)
Qatari 62.73% 55.46% 56,041,179.82
Non-Qatari 37.27% 44.55% (56,041,179.82)

3. Page 3 of 5
companies with a trustworthy source of information on all issues
related to exporting procedures, including details about the
procedures companies must follow when they sell their goods
and services abroad. It will be available in both English and
Arabic languages. (GulfBase.com)
International
 BoE: Rates pressure might trigger more stimulus – The
Bank of England (BoE) Governor Mark Carney said it may
provide more stimulus to Britain's economy if financial markets
get ahead of themselves and threaten to choke its fragile
recovery. Carney said the upward movement in market
expectations about the bank’s rate could, at the margin, feed
into the effective financial conditions facing the real economy.
He said if rates tighten, and the recovery seems to be falling
short of the strong growth needed by the country, BoE will
consider carefully whether, there is a need to stimulate the
recovery further. (Reuters)
 BoE allows UK banks to cut their cash holdings – The BoE
Governor Mark Carney said Britain's eight top lenders can now
cut their cash buffers by a collective £90bn to help economic
growth. The buffers will cushion banks from short-term market
shocks so that they can keep operating for a month even if
markets freeze as they did during the 2007-09 financial crisis. In
a separate statement, the central bank's Prudential Regulation
Authority said UK banks can scale back their liquidity buffers on
condition that they will hold a minimum core capital ratio of 7%.
(Reuters)
 IMF: Brazil recovering from slowdown, backs more reforms
– The IMF said Brazil's economy is recovering gradually from a
slowdown that began in mid-2011, but more efforts to boost
productivity, competitiveness and investment are critical for
spurring growth. In its report, the IMF praised Brazil's focus on
reforms to ease supply-side constraints, saying it would boost
investment and alleviate infrastructure bottlenecks. The report
said the low unemployment and hefty real wage gains have kept
consumption strong and, with the economy operating at close to
potential, supply constraints have held back growth and fuelled
inflation. (Reuters)
 India’s RBI sells dollars to oil companies to shore up rupee
– India's central bank will provide dollars directly to state oil
companies in its latest attempt to shore up the country’s
currency that has slumped to a record low, reflecting the stiff
economic challenges facing the country in an uncertain global
environment. The Reserve Bank of India announced that a
special window has been opened with immediate effect to sell
dollars through a designated bank to Indian Oil Corp, Hindustan
Petroleum Corp, and Bharat Petroleum Corp. (Reuters)
 BRICS agree capital structure for development bank – The
BRICS bloc of countries have agreed on the capital structure for
a proposed development bank that aims to reduce their reliance
on Western financial institutions. Officials from Brazil, Russia,
India, China and South Africa agreed to set up the bank with a
total bank capital of $50bn, shared equally among them. The
move is likely end disagreements over the funding and
management of the bank as China had earlier proposed a
capital of $100bn and sought a bigger share. The bank will
support the financing needs in emerging and developing nations
for building roads, modern-day port facilities, and reliable power
and rail services. (Reuters)
 Egyptian cabinet approves 22.3bn Egyptian pounds
economic stimulus plan – Egypt's cabinet has approved an
additional 22.3bn Egyptian pounds in spending on investment
projects to boost the economy over the next 10 months. Egypt’s
Deputy Prime Minister Ziad Bahaa el-Din said the government
would present its economic program to Gulf Arab countries, in
particular the UAE, which has already agreed to finance medical
projects and 10 wheat silos. (Reuters)
Regional
 F&S: Big market opportunity in MENASA yet untapped –
According to Frost & Sullivan (F&S), the Middle East, North
Africa and South Asia (MENASA) has become one of the
world's booming regions in the last couple of years and has
recorded a combined GDP of $8.3tn in 2012, achieving 3.5%
growth YoY. F&S expects the combined GDP of MENASA to
reach around $12.3-12.8tn by 2022-23. Significant opportunities
lie across key sectors in MENASA such as infrastructure
development, power & water, real estate, oil & gas,
manufacturing and healthcare. (AME Info)
 MasterCard Index: Saudi consumer confidence remains
high at 93.3 – According to the findings of MasterCard Index of
Consumer Confidence, the consumer sentiment in Saudi Arabia
is very high at 93.3. Consumers in the Kingdom are optimistic
about the Saudi economy (97.1 current versus 97.3 previous),
employment (96.2 vs. 97.6), regular income (95.7 vs. 98.8), the
stock market (89.6 vs. 93.5) and quality of life (87.9 vs. 88.9).
The study further showed that Kuwait is the most optimistic
country in the GCC region with a consumer confidence score of
96.8, followed by Qatar (96.4), the UAE (94.7), Saudi Arabia
(93.3) and Oman (87.1). Across the Middle East, consumer
confidence levels remain very optimistic with positive scores for
all five indicators, despite slight declines when compared to the
previous edition released in April 2013. The Middle East region’s
aggregate score of 78.5 remains higher than that of Asia-Pacific
with 63.3 and Africa with 78.1. (GulfBase.com)
 Hyundai HI set to obtain $1.4bn ships order from UASC –
According to sources, South Korea-based Hyundai Heavy
Industries (Hyundai HI) is close to finalizing an order worth
about $1.4bn to build 10 huge container ships for the United
Arab Shipping Company (UASC). Under the deal, UASC will buy
five of the largest cargo container ships ever made, each
carrying 18,800 twenty-foot container units (TEU), along with
five with a capacity of 14,500 TEU. UASC was set up in 1976 by
the governments of Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia
and the UAE to improve trade links with the rest of the world.
(Gulf-Times.com)
 SAMA: Saudi banks’ M3 money supply, lending edge up in
July – According to the data released by the Saudi Arabian
Monetary Agency (SAMA), the M3 money supply growth in the
Kingdom accelerated to 15% YoY at the end of July 2013 as
compared to 14% in June 2013. Bank lending to the private
sector was up 15.6% in July as compared to 15.5% in June. The
central bank's net foreign assets reached a record high of
SR2.549tn in July. (GulfBase.com)
 ADA awards $265mn contract to US-based Louis Berger –
Arriyadh Development Authority (ADA) has awarded a contract
worth $265mn to Louis Berger, a US-based consultancy for
providing project & construction management services for the
Riyadh Metro project. This contract will oversee design and
construction deliverables through the project’s lifecycle for
Package 3, which consists of three out of six lines in the new
Riyadh metro system. Further, the contract covers a five-year
performance period and a 24-month defects liability period.
(GulfBase.com)
 Saudi Aramco signs deal with a Saudi-Japanese
consortium for power plants – The Saudi Arabian Oil
Company (Saudi Aramco) has signed agreements with a Saudi-

4. Page 4 of 5
Japanese consortium to build and operate cogeneration power
plants. The consortium consists of Marubeni Corp, JGC Corp of
Japan and Saudi Aljomaih Energy & Water Company. Saudi
Aramco said that once online in 2016, these plants will provide
900 Megawatts of power along with 1,500 tons of steam per
hour. (Gulf-Times.com)
 SAEV invests in Norway-based Inflow Control – Saudi
Aramco Energy Ventures (SAEV), a unit of Saudi Aramco, has
made an undisclosed equity investment in InflowControl AS, a
Norway-based provider of inflow control technology solutions.
(Bloomberg)
 CBRE: Middle East, North American investors drive
European property investment market – According to C B
Richard Ellis South Asia Pvt. Ltd. (CBRE), London has garnered
almost 50% of the Middle East investments in European
commercial property in 1H2013, which has attracted buyers due
to its political stability and growth prospects. The Middle East
region has accounted for 9% of all commercial real estate
bought in Europe during 1H2013, reflecting an increase of 6%
YoY. The region’s share of foreign investment in Europe
increased to 21% from 12%. North America was the biggest
investor, with 13% of the total investment and 24% of the foreign
share. CBRE said that almost half of the Middle East investment
in Europe comes from sovereign wealth funds. (Bloomberg)
 BMI: UAE electronics market to reach $4.3bn by 2015 –
According to the Business Monitor International (BMI) report, the
consumer electronics market in the UAE has been valued at
$3.9bn, which is expected to reach $4.3bn by 2015. The
consumer and business sentiment toward the UAE has
improved significantly since the beginning of 2013, as reflected
by the growth in the real estate and equities markets, as well as
strong uptake of high-value telecom services. This is driving the
growth in the consumer electronics market, with leading
manufacturers introducing new products across different
segments and expanding their distribution channels. BMI
forecasts this trend to continue in the rest of 2013 and beyond
as the UAE exhibits political and economic stability.
(GulfBase.com)
 DIA’s passenger traffic up 6.1% YoY – According to a traffic
report by Dubai Airports Company (DAC), passenger traffic at
the Dubai International Airport (DIA) in July reached 5.3mn,
indicating an increase of 6.1% YoY, while traffic is up 15.3%
YTD to 37.97mn. Aircraft movements in July have increased
2.3% YoY to 28,462, while the passengers per aircraft
movement in July came in at 201. (AME Info)
 Emirates to raise $4.5bn through Islamic bonds, to begin
direct flights to Taipei – The Emirates Airline is planning to
raise $4.5bn through the sale of Islamic bonds in the financial
year starting April 2014 to pay for its planes. Senior Vice
President for Corporate Treasury Brian Jeffery said the airline
needs funds worth $5.34bn per year over the next five years to
finance its 119 aircraft deliveries. He also said that among the
various financing options, Emirates could tap sukuk or regular
bonds in early 2014. The airline is also planning to start six
direct flights to Taipei from February 10, 2014. Meanwhile, the
company is also planning to more than double its network of US
destinations in the next three to five years to a total of 15 US
cities, up from seven currently. (Bloomberg)
 Dana Gas’ Egypt production reaches 200mn scfd – Dana
Gas has achieved a gas production of 200mn standard cubic
feet per day (scfd), which is equivalent to 41,500 barrels of oil
equivalent per day (boepd), including over 8,000 bpd of
associated liquids in Egypt. This is the highest level for Dana
Gas in Egypt in two years and represents a growth of 29% over
its 2012 average. Core operations in the company’s Nile Delta
and its Egyptian Bahrain Gas Derivatives Company’s natural
gas liquids extraction plant remained stable, and have not been
affected by the current political events in Egypt. (GulfBase.com)
 RAKBANK opens first branch in Fujairah – The National
Bank of Ras Al Khaimah (RAKBANK) has announced the
opening of its first branch in the Emirate of Fujairah. The new
branch will provide a wide range of banking services to both
individuals and businesses. (AME Info)
 KEC makes oil discovery at El Salmiya-2 in Egypt – The
Kuwait Energy Company (KEC) announced an oil discovery at
its El Salmiya-2 well located in its Abu Sennan concession in the
Western Desert of Egypt. KEC is the operator of the Abu
Sennan concession and holds a 50% working interest. The El
Salmiya-2 well has found oil in the Kharita Formation and initial
tests show that the production flow rate would be of 3,530
barrels of oil per day (bopd). This is KEC’s sixth success in the
Abu Sennan concession and the 21st discovery in Egypt since
2008. (AME Info)
 Oman’s inflation rate falls 1% in June – According to the data
released by the National Centre for Statistics & Information
(NCSI), the inflation rate in Oman dropped 1% in June 2013, as
compared to 2.8% in June 2012. In terms of monthly change in
the consumer price index in June 2013, prices of most major
groups have stabilized except the group of personal goods &
other services. At the regional level, Oman recorded the lowest
inflation rate in June 2013, as compared to inflation rates in
other GCC countries such as Saudi Arabia with 3.5% YoY,
followed by Qatar (3.4% YoY), Bahrain (3.3% YoY) and the UAE
(1.25% YoY). (Bloomberg)
 Nawras signs deal to provide VSAT solutions to Dalma
Energy – Omani Qatari Telecommunications Company
(Nawras) has entered into an agreement with Oman-based
Dalma Energy & Company to link all the land and mobile rigs
located in remote sites across Oman with the corporate office in
Muscat, using Very Small Aperture Terminal (VSAT) solutions.
(AME Info)

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,
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 (*July 09, 2013) Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
0.4%
(2.3%)
(0.8%)
0.3%
(3.0%)
(2.2%)
(1.3%)
(3.6%)
(2.7%)
(1.8%)
(0.9%)
0.0%
0.9%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,417.51 0.2 1.4 (15.4) DJ Industrial 14,824.51 0.3 (1.2) 13.1
Silver/Ounce 24.36 (0.4) 1.2 (19.7) S&P 500 1,634.96 0.3 (1.7) 14.6
Crude Oil (Brent)/Barrel (FM
Future)
116.61 2.0 5.0 5.0 NASDAQ 100 3,593.35 0.4 (1.8) 19.0
Natural Gas (Henry
Hub)/MMBtu
3.54 1.2 1.1 3.4 STOXX 600 297.89 (0.4) (2.2) 6.5
LPG Propane (Arab Gulf)/Ton* 810.00 0.0 0.0 (16.4) DAX 8,157.90 (1.0) (3.1) 7.2
LPG Butane (Arab Gulf)/Ton* 807.00 0.0 0.0 (16.7) FTSE 100 6,430.06 (0.2) (1.0) 9.0
Euro 1.33 (0.4) (0.3) 1.1 CAC 40 3,960.46 (0.2) (2.7) 8.8
Yen 97.64 0.6 (1.1) 12.6 Nikkei 13,338.46 (1.5) (2.4) 28.3
GBP 1.55 (0.1) (0.3) (4.5) MSCI EM 909.81 (0.6) (2.5) (13.8)
CHF 1.08 (0.5) (0.0) (0.7) SHANGHAI SE Composite 2,101.30 (0.1) 2.1 (7.4)
AUD 0.89 (0.5) (1.0) (14.0) HANG SENG 21,524.65 (1.6) (1.5) (5.0)
USD Index 81.43 0.3 0.1 2.1 BSE SENSEX 17,996.15 0.2 (2.8) (7.4)
RUB 33.17 0.1 0.5 8.7 Bovespa 49,866.92 (0.4) (4.5) (18.2)
BRL 0.43 1.8 0.8 (12.0) RTS 1,299.65 (0.4) (2.4) (14.9)
137.2
122.6
110.7