1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.2% to close at 9,886.7. Losses were led by the
Telecoms and Banking & Financial Services indices, declining 1.8% and 1.4%
respectively. Top losers were Medicare Group and QNB Group, falling 2.6%
and 2.1% respectively. Among the top gainers, Zad Holding Co. rose 6.2%,
while Qatar Gas Transport Co. gained 2.3%.
GCC Commentary
Saudi Arabia: The TASI index gained 0.6% to close at 8,131.2. Gains were
led by the Hot. & Tou. and Trans. indices, rising 6.4% and 2.3% respectively.
Aljazira Takaful Taawuni gained 9.9%, while Al Tayyar Travel was up 8.8%.
Dubai: The DFM index fell 0.6% to close at 2,632.0. The Services index
declined 1.5%, while the Investment & Financial Services index was down
1.4%. Tamweel fell 3.0%, while Arabtec was down 2.8%.
Abu Dhabi: The ADX benchmark index rose 0.1% to close at 3,882.2. The
Consumer index gained 0.9%, while the Industrial index was up 0.3%. Arkan
Building Mat. Co. rose 4.0%, while Abu Dhabi Nat. Energy Co. was up 1.6%.
Kuwait: The KSE index declined marginally to close at 8,092.0. The Industrial
index fell 0.9%, while the Consumer Goods index was down 0.7%. Osoul Inv.
Co. declined 9.1%, while Gulf Franchising Holding Co. was down 8.9%.
Oman: The MSM index gained 0.3% to close at 6,832.8. Gains were led by
the Ser. & Ins. and Bank. & Inv. indices, gaining 0.2% and 0.1% respectively.
Nat. Aluminum Products gained 2.6%, while Gulf Inv. Services was up 2.2%.
Bahrain: The BHB index rose 0.3% to close at 1,200.9. The Insurance index
gained 1.4%, while the Industrial index was up 0.9%. Bahrain National Holding
Co. rose 4.2%, while BBK was up 1.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Zad Holding Co. 66.50 6.2 66.6 13.1
Qatar Gas Transport Co. 19.73 2.3 2,434.2 29.3
National Leasing 34.55 0.9 77.8 (23.6)
Qatar National Cement Co. 102.60 0.3 33.0 (4.1)
Al Khaleej Takaful Group 41.00 0.2 7.4 11.8
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. 19.73 2.3 2,434.2 29.3
Aamal Co. 14.40 0.2 443.5 5.8
Masraf Al Rayan 29.75 (1.7) 414.4 20.0
United Development Co. 22.90 (1.7) 398.6 28.7
Barwa Real Estate Co. 24.87 (0.9) 319.0 (9.4)
Market Indicators 15 Aug 13 14 Aug 13 %Chg.
Value Traded (QR mn) 262.3 320.3 (18.1)
Exch. Market Cap. (QR mn) 541,427.3 548,505.0 (1.3)
Volume (mn) 6.7 7.4 (9.0)
Number of Transactions 3,368 3,858 (12.7)
Companies Traded 41 39 5.1
Market Breadth 6:33 23:14 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 14,125.80 (1.2) 0.4 24.9 N/A
All Share Index 2,492.82 (1.2) 0.5 23.7 13.2
Banks 2,417.35 (1.4) 0.3 24.0 12.8
Industrials 3,179.06 (1.2) (0.2) 21.0 11.7
Transportation 1,788.76 0.6 2.3 33.5 12.3
Real Estate 1,782.78 (1.2) (0.9) 10.6 13.4
Insurance 2,296.04 (0.5) 0.1 16.9 9.5
Telecoms 1,468.75 (1.8) 1.3 37.9 15.5
Consumer 5,979.22 (0.9) 3.5 28.0 25.0
Al Rayan Islamic Index 2,830.38 (0.9) (0.1) 13.8 14.7
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Al Tayyar Travel Saudi Arabia 96.25 8.8 2,120.5 128.2
Deyaar Development Dubai 0.45 4.9 117,309.4 27.3
Bahri Saudi Arabia 21.45 3.9 4,423.7 12.0
Herfy Food Services. Saudi Arabia 120.75 3.2 136.3 26.5
Saudi Arabian Mining Saudi Arabia 29.90 3.1 3,265.2 (7.7)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ithmaar Bank Bahrain 0.26 (3.8) 277.2 50.0
Kuwait Foods Co. Kuwait 2.26 (3.4) 18.8 29.9
Jarir Marketing Co. Saudi Arabia 214.75 (2.8) 147.5 38.3
Arabtec Holding Co. DFM 2.43 (2.8) 37,289.6 30.6
Nat. Investments Co. Kuwait 0.16 (2.5) 139.9 18.2
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%
Medicare Group 49.60 (2.6) 108.5 38.9
QNB Group 176.00 (2.1) 77.0 34.5
Industries Qatar 159.10 (2.0) 230.2 12.8
Ooredoo 142.10 (2.0) 152.3 36.6
Qatar Meat & Livestock Co. 55.70 (1.9) 134.1 (5.3)
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Qatar Gas Transport Co. 19.73 2.3 47,978.9 29.3
Industries Qatar 159.10 (2.0) 36,948.3 12.8
Ooredoo 142.10 (2.0) 22,041.7 36.6
QNB Group 176.00 (2.1) 13,679.0 34.5
Masraf Al Rayan 29.75 (1.7) 12,386.2 20.0
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* 9,886.68 (1.2) 0.4 1.9 18.3 72.02 148,675.9 12.4 1.7 4.7
Dubai 2,631.98 (0.6) (1.6) 1.7 62.2 103.54 65,355.0 15.3 1.1 3.1
Abu Dhabi 3,882.18 0.1 (1.2) 0.9 47.6 36.57 111,420.4 11.0 1.4 4.6
Saudi Arabia 8,131.16 0.6 0.7 2.7 19.6 1,284.68 428,521.9 17.0 2.1 3.6
Kuwait 8,092.04 (0.0) 0.3 0.3 36.4 105.37 110,720.4 20.0 1.3 3.5
Oman 6,832.80 0.3 1.1 2.9 18.6 17.28 9082.16 11.3 1.7 4.0
Bahrain 1,200.88 0.3 0.1 0.5 12.7 0.37 21,950.2 8.4 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)
9,850
9,900
9,950
10,000
10,050
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 5
Qatar Market Commentary
 The QE index declined 1.2% to close at 9,886.7. 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.
 Medicare Group and QNB Group were the top losers, falling
2.6% and 2.1% respectively. Among the top gainers, Zad
Holding Co. rose 6.2%, while Qatar Gas Transport Co. gained
2.3%.
 Volume of shares traded on Thursday declined by 9.0% to 6.7mn
from 7.4mn on Wednesday. However, as compared to the 30-
day moving average of 5.6mn, volume for the day was 19.0%
higher. Qatar Gas Transport Co. and Aamal Co. were the most
active stocks, contributing 36.2% and 6.6% to the total volume
respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings, Earnings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Doha Bank
Assurance Company
(DBAC)
S&P Qatar
Counterparty credit and
insurer financial
strength rating
BBB BBB – Stable –
Al Sagr National
Insurance Co.
(ASNIC)
A.M. Best Dubai FSR/ ICR B+ / bbb- B+ / bbb- – Stable –
Alliance Insurance
(Alliance)
A.M. Best Dubai FSR/ ICR A- / a- A- / a- – Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC –
Local Currency, ICR- Issuer Credit Rating)
Earnings Releases
Company Market Currency
Revenue
(mn) 2Q2013
% Change
YoY
Operating Profit
(mn) 2Q2013
% Change
YoY
Net Profit (mn)
2Q2013
% Change
YoY
Dubai Development Co.
(DDC)*
Dubai AED 0.1 -44.0% – – (0.01) N/A
United Foods Co. (UFC) Dubai AED 107.6 5.6% – – 7.3 41.5%
Al Firdous Holdings Dubai AED 3.6 32.7% – – 0.4 446.6%
Gulf Navigation Holding
(GNH)
Dubai AED 39.4 -24.4% 5.7 -48.5% (10.1) 122.0%
Arabtec Holding (Arabtec) Dubai AED 1,596.7 20.9% – – 92.4 N/A
Islamic Arab Insurance Co.
(IAIC)
Dubai AED 45.1 -38.0% – – 17.6 -9.6%
Union Insurance Co. (UIC)* Abu Dhabi AED – – – – 21.2 N/A
Eshraq Properties Co.
(Eshraq)
Abu Dhabi AED 54.8 N/A – – 24.9 N/A
International Financial
Advisors Co. (IFA)
Kuwait KD 11.0 N/A – – 0.4 N/A
Al Madina for Finance &
Investment Co. (Al Madina)
Kuwait KD – – – – (0.2) -30.3%
Kuwait China Investment
Co. (KCIC)*
Kuwait KD 4.5 5.9% – – 1.1 N/A
Source: Company data, DFM, ADX, MSM (*1H2013 Result)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
08/15 US Department of Labor Initial Jobless Claims 10-August 320K 335K 335K
08/15 US Department of Labor Continuing Claims 3-August 2,969K 3,000K 3,023K
08/15 US Bureau of Labor Stat. CPI MoM July 0.20% 0.20% 0.50%
08/15 US Bureau of Labor Stat. CPI YoY July 2.00% 2.00% 1.80%
08/15 US Federal Reserve Industrial Production MoM July 0.00% 0.30% 0.20%
08/15 US Federal Reserve Capacity Utilization July 77.60% 77.90% 77.70%
08/15 US Federal Reserve Manufacturing (SIC) Production July -0.10% 0.20% 0.20%
08/15 US Bloomberg Bloomberg Consumer Comfort 11-August -26.6 – -23.5
08/15 US NAHB NAHB Housing Market Index August 59 57 56
08/16 US US Census Bureau Housing Starts July 896K 900K 846K
08/16 US US Census Bureau Housing Starts MoM July 5.90% 7.70% -7.90%
08/16 EU Eurostat CPI MoM July -0.50% -0.50% 0.10%
Overall Activity Buy %* Sell %* Net (QR)
Qatari 68.44% 58.44% 26,209,050.70
Non-Qatari 31.56% 41.56% (26,209,050.70)

3. Page 3 of 5
08/16 EU Eurostat CPI YoY July 1.60% 1.60% 1.60%
08/16 EU Eurostat CPI Core YoY July 1.10% 1.10% 1.10%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QCB sends draft on Basel III rules to banks – The Qatar
Central Bank (QCB) has sent a draft circular on the new Basel
III capital rules to conventional and Islamic banks in Qatar.
These new capital rules include the requirements for issuing
instruments such as hybrid bonds. QCB said this is a
consultative circular and the final version is slated to be
completed once a quantitative impact study is undertaken for
national banks. The hybrid debt, which has equity-like
characteristics allowing it to be counted toward banks’ core
capital ratios, can include perpetual debt and Islamic bonds.
(GulfBase.com)
 Ashghal to complete effluent plant by 4Q2013 – The Public
Works Authority (Ashghal) is expected to complete the drainage
water treatment plant situated east of Doha in 4Q2013. Being
built at a cost of QR3.64bn, the plant will initially serve around
900,000 people, which could be expanded to serve 1.2mn in the
future. The treated water from the plant would be used to irrigate
agricultural farms in Doha and its suburbs. (Gulf-Times.com)
 S&P affirms rating for DHBK’s subsidiary with Stable
outlook – S&P has affirmed the rating for Doha Bank
Assurance Company’s (Doha Bank’s (DHBK) subsidiary)
counterparty credit and insurer financial strength at BBB with a
Stable outlook. (Gulf-Times.com)
 Tenders for energy-saving devices at mosques, schools –
Tenders are to be floated soon to install energy and water-
saving devices in mosques and government schools across
Qatar to help rationalize the consumption of these resources.
Once the new devices are in place, electricity and water
consumption are expected to drop 37% and 4% respectively.
(Peninsula Qatar)
 ORDS to introduce affordable phone services in Myanmar –
Ooredoo (ORDS) has pledged to introduce affordable phone
services in Myanmar from 2014 as it pumps investments worth
$15bn into one of the world’s few remaining frontier mobile
markets. ORDS expects to be formally awarded with a 15-year
3G license by the end of 2013. The company is set to roll out its
mobile services including money transfers and weather data for
farmers within six months. (GulfBase.com)
 Qatar to launch satellite on August 29 – Qatar's satellite
Sohail I is set to be launched on August 29 from France. After
the launch, experiments and technical tests will be carried out
for three months. It will be one of the biggest satellites, which
will provide all types of satellite services including TV
broadcasts. Qatar also plans to launch Sohail II satellite in 2016-
17. (Peninsula Qatar)
 Bulgaria in talks with Qatar for lamb exports – According to
sources, Bulgaria and Qatar are discussing opportunities for
lamb exports. Bulgaria aims to achieve exports of 100,000
lambs a year to Qatar. The Qatari government has reportedly
deposited funds worth $50mn with the Bulgarian Development
Bank, which are to be granted as interest-free loans to sheep
farmers for investment in animals, fodder and equipment. (Gulf-
Times.com)
 Al Jazeera to launch US news channel – Qatar-based Al
Jazeera media group will launch its US news channel “Al
Jazeera America” from Tuesday. The cable news network is
being launched in the US following the success and popularity of
Aljazeera English. (Gulf-Times.com)
International
 Greece set to allow home foreclosures – The Greek Finance
Minister Yannis Stournaras said the country will lift restrictions
on home foreclosures to allow banks to recover their bad loans.
He said the freeze on forced auctions, which has already been
extended three times and is set to expire on December 31,
should not be extended any further. (Reuters)
 China to ease foreign investment rules for new FTZs –
China plans to suspend some laws on foreign investment in its
proposed new free trade zones (FTZs) including Shanghai as
part of Premier Li Keqiang’s drive to liberalize the economy to
sustain growth. According to a State Council statement, the
changes will provide innovative ways to open up the Chinese
economy, remove unnecessary administration hassles, and help
transform the government’s role in the economy. (Bloomberg)
 OPEC to trim exports on refinery repairs – According to
sources, the Organization of Petroleum Exporting Countries
(OPEC) will reduce shipments this month while refiners in the
US and Europe conduct seasonal maintenance. OPEC will cut
exports by 190,000 bpd, or 0.8%, to about 23.7mn bpd in the
four weeks to August 31 from the period to August 3. These
figures exclude two of OPEC's 12 members, Angola and
Ecuador. (Gulf-Times.com)
 QNB Group: Banking union could fix EU woes – According to
QNB Group, a European banking union could go a long way in
fixing Europe’s ramshackle financial architecture. The recent
banking and sovereign debt crisis in the Eurozone has exposed
critical gaps in the architecture of Europe's financial system that
make it vulnerable to future crises. QNB Group said a Europe-
wide banking regulator is needed that can reduce the risk of
future banking crises and, if they occur, provide the necessary
funding to bailout banks without affecting national sovereign
debt. QNB Group added that such a regulator is essential for
strengthening Europe’s financial architecture to withstand a
future crisis. (Peninsula Qatar)
Regional
 GCC exports to Japan down by 8% in 1H2013 – According to
the data released by the Japan External Trade Organization
(JETRO), exports from the GCC region to Japan dropped by
around 8% in 1H2013 after soaring to their highest level in 2012.
Imports from Japan to GCC countries also declined in 1H2013,
reversing the steady increase seen over the past few years. The
GCC region’s combined exports to Japan slumped to $74.83bn
in 1H2013 from around $81.64bn in 1H2012. Exports from the
UAE fell to $20.96bn in 1H2013 from $22.63bn in 1H2012, while
those from Saudi Arabia dropped to $24.42bn in 1H2013 from
$28.83bn in 1H2012. Exports from other member states also fell
except for Qatar, which boosted its exports of LNG, crude oil
and other products to Japan to $119.4bn in 1H2013 from
$18.47bn in 1H2012. The data further showed that Japan’s
exports to the Gulf states also reduced to around $11bn in
1H2013 as compared to $12.74bn in 1H2012. The decline was
mainly due to exports to the UAE and Saudi Arabia falling to
$4.08bn and $3.5bn from $4.63bn and $4.13bn respectively.
(GulfBase.com)

4. Page 4 of 5
 S&P downgrades Tunisia two notches, citing unrest –
Rating agency S&P has downgraded debt issued by Tunisia by
two notches because of rising opposition to the government.
The credit rating agency downgraded its notation for Tunisian
long-term debt from "BB-" to "B", indicating low confidence that
the country will be able to respect its debt obligations. S&P said
the outlook was Negative, meaning there was one chance in
three that it would lower the rating again in the next 12 months if
the economic and social situation threatened reforms to support
economic growth. (Economic Times)
 Saudi CPI inflation for July rise 3.7% YoY – According to the
latest data released by the Saudi Central Department of
Statistics & Information (CDSI), the country’s inflation for July
2013 indicate that prices have risen by 3.7% YoY as compared
to 3.5% YoY in June. On a monthly basis, prices increased by
0.4% as compared to 0.2% in June. The data also showed that
food inflation accelerated to 6.9% YoY in July as compared with
6.1% in June, placing it at its highest level since December
2008. On monthly terms, food prices rose by 1% in July as
compared to an average of 0.4% for 1H2013. (GulfBase.com)
 SAGIA: Kingdom working to develop trade & investment
laws – According to the Saudi Arabian General Investment
Authority (SAGIA), the Kingdom is currently working on
developing its trade & investment laws to woo more foreign
direct investments and to settle disputes between foreign
investors and their local partners. The plan is in line with the
Labor Ministry’s efforts to create more jobs for young Saudi men
and women. SAGIA said that Saudi Arabia has been making
strenuous efforts to diversify its economy by encouraging
investment projects in various industry sectors. It also said that
the Kingdom is one of the fastest growing economies worldwide,
with per capita income forecast to rise from $25,000 in 2012 to
$33,500 by 2020. (GulfBase.com)
 Saudi-Egyptian Business Council to begin negotiations
with IDB – The Saudi-Egyptian Business Council is set to begin
negotiations with the Islamic Development Bank (IDB) to finance
various Saudi investment projects that have been stalled in
Egypt. (GulfBase.com)
 Saudia owes SR11bn debt to GACA – According to sources,
Saudi Arabian Airlines (Saudia) owes SR11bn in debt to the
General Authority for Civil Aviation (GACA). The airline has
arranged for a repayment of SR2.6bn. (Bloomberg)
 NESMA Electric obtains substation contract – NESMA
Electric has received a contract to construct a 110/13.8kv power
substation in Jeddah Gate Site (Bab Jeddah) located near the
Old Jeddah Airport. (AME Info)
 DSC: Rising rents and utility costs in UAE drive inflation –
According to the data released by the Dubai Statistics Center
(DSC), rising rents and utility costs are driving inflation across
the Emirates to its highest level in two years as Dubai’s property
recovery spreads to other regions. The data showed that
housing and utility costs in Dubai rose 1.4% YoY and 0.2%
MoM. Housing costs accounted for almost 44% of consumer
expenses in DSC’s calculations and the overall change was
1.6% YoY. Meanwhile, the data released by the National
Bureau of Statistics showed the housing cost across the UAE,
which accounts for more than a third of the average person’s
expenses, rose 0.4% YoY in July 2013. The housing rent rose
0.07% MoM in July 2013. Prices for food & soft drinks, which
make up 14% of average expenses, showed significant
fluctuations and rose 3.5% YoY (-0.3% MoM) in July 2013.
(GulfBase.com)
 LAP GreenN in talks to buy 35% stake in Tunisie Telecom –
LAP Green Networks (LAP GreenN), a subsidiary of the Libyan
Investment Authority’s Libya Africa Investment Portfolio, is in
talks to acquire a 35% stake in Tunisie Telecom owned by
Emirates International Telecommunications (EIT). Currently,
LAP GreenN is conducting due diligence on the potential
purchase. (GulfBase.com)
 Emirates, Qantas enhance joint network – Emirates Airlines
and Qantas Airways have enhanced their joint network for their
new flight schedule between New Zealand and Australia.
Emirates will continue to operate 28 flights a week to New
Zealand, with daily flights to Auckland from Sydney, Melbourne
and Brisbane, as well as daily flights between Sydney and
Christchurch. From October 1, 2013, Emirates’ flights to
Auckland are set to be operated on an Airbus A380 aircraft.
(GulfBase.com)
 Siemens obtains order to construct long product rolling mill
– Austria-based Siemens Metals Technologies has obtained an
order from the United Steel Company to construct a long
product rolling mill in the UAE. This plant will be built in Fujairah
Free Zone and will have a production capacity of 950,000 tons
of structural steel per year. The new rolling mill is scheduled to
be ready for operation by mid-2014. (Bloomberg)
 Carlyle Group buys German healthcare firm – Carlyle Group,
the US private-equity firm in which Abu Dhabi’s Mubadala
Development Company owns a 7.5% stake, has bought the
German nursing home operator Alloheim from Star Capital
Partners. (Bloomberg)
 Abraaj Group buys Turkish student housing shares – Abraaj
Group has bought a significant stake in Republika Academic
Apartments, a Turkish student housing firm. Republika has two
student housing facilities in Istanbul with 1,274 beds. (Gulf-
Times.com)
 Warba Bank plans to start new investment firm – Warba
bank is planning to establish a new investment company, which
will operate in accordance with Shari’ah rules. (GulfBase.com)

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 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&P Pan Arab S&P GCC
0.6%
(1.2%)
(0.0%)
0.3% 0.3%
0.1%
(0.6%)
(1.8%)
(1.2%)
(0.6%)
0.0%
0.6%
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 1,376.87 0.8 4.8 (17.8) DJ Industrial 15,081.47 (0.2) (2.2) 15.1
Silver/Ounce 23.26 1.2 13.1 (23.4) S&P 500 1,655.83 (0.3) (2.1) 16.1
Crude Oil (Brent)/Barrel 109.36 0.0 0.0 (3.1) NASDAQ 100 3,602.78 (0.1) (1.6) 19.3
Natural Gas (Henry
Hub)/MMBtu
3.35 0.3 0.8 (2.3) STOXX 600 306.36 0.3 0.1 9.5
LPG Propane (Arab Gulf)/Ton 810.00 0.0 0.0 (16.4) DAX 8,391.94 0.2 0.6 10.2
LPG Butane (Arab Gulf)/Ton 807.00 0.0 0.0 (16.7) FTSE 100 6,499.99 0.3 (1.3) 10.2
Euro 1.33 (0.1) (0.1) 1.0 CAC 40 4,123.89 0.7 1.2 13.3
Yen 97.53 0.2 1.4 12.4 Nikkei 13,650.11 (0.7) 0.3 31.3
GBP 1.56 (0.1) 0.8 (3.9) MSCI EM 958.11 (0.2) 0.7 (9.2)
CHF 1.08 (0.0) (0.4) (1.2) SHANGHAI SE Composite 2,068.45 (0.6) 0.8 (8.8)
AUD 0.92 0.5 (0.2) (11.6) HANG SENG 22,517.81 (0.1) 3.3 (0.6)
USD Index 81.26 0.1 0.2 1.9 BSE SENSEX 18,598.18 (4.0) (1.0) (4.3)
RUB 32.93 (0.2) 0.2 7.9 Bovespa 51,538.78 1.2 3.3 (15.4)
BRL 0.42 (2.0) (5.0) (14.2) RTS 1,323.42 (0.3) (0.2) (13.3)
142.1
127.0
115.0