1. QE Intra-Day Movement
Market Indicators
27 Nov 13
26 Nov 13
%Chg.
10,400
Value Traded (QR mn)
Exch. Market Cap. (QR mn)
Volume (mn)
Number of Transactions
Companies Traded
Market Breadth
422.5
555,390.4
14.8
6,007
41
21:17
395.2
550,004.0
15.7
6,193
40
13:21
6.9
1.0
(5.7)
(3.0)
2.5
–
10,350
10,300
Market Indices
10,250
10,200
9:30
10:00
10:30
11:00
11:30
12:00
12:30
13:00
Qatar Commentary
The QE index rose 0.8% to close at 10,353.2. Gains were led by the Industrials
and Banking & Financial Services indices, gaining 1.2% and 1.0% respectively.
Top gainers were Al Ahli Bank and Qatar Gas Transport Co., rising 2.8% and
1.9% respectively. Among the top losers, Zad Holding Co. fell 1.8%, while Al
Khaleej Takaful Group declined 0.9%.
Close
Total Return
All Share Index
Banks
Industrials
Transportation
Real Estate
Insurance
Telecoms
Consumer
Al Rayan Islamic Index
1D%
WTD%
YTD%
TTM P/E
14,792.28
2,580.84
2,452.37
3,400.80
1,929.15
1,994.32
2,347.12
1,446.13
5,954.12
3,029.74
0.8
0.9
1.0
1.2
0.9
0.1
0.2
0.7
(0.2)
0.5
1.4
1.3
0.7
1.3
3.6
5.6
(0.5)
0.1
0.8
3.7
30.8
28.1
25.8
29.5
43.9
23.7
19.5
35.8
27.5
21.8
N/A
13.1
13.2
12.3
13.1
13.7
9.6
19.7
22.6
15.7
GCC Commentary
GCC Top Gainers##
Exchange
Saudi Arabia: The TASI index gained marginally to close at 8,300.7. Gains
were led by the Industrial Investment and Hotel & Tourism indices, rising 1.4%
and 1.0% respectively. MetLife AIG ANB Cooperative Insurance Co. gained
10.0%, while Bank Albilad was up 5.9%.
Boubyan Petrochem.
Kuwait
Bank Albilad
Saudi Arabia
Nat. Mobile Telecomm.
Kuwait
Al Mouwasat Med. Ser.
Saudi Arabia
Abu Dhabi Nat. Hotels
Dubai: The DFM index rose 0.5% to close at 2,899.0. The Investment &
Financial Services index gained 2.1%, while the Real Estate & Construction
index was up 0.8%. Agility Public Warehousing Co. surged 14.9%, while
Ekttitab Holding Co. gained 14.1%.
##
Close#
1D%
Vol. ‘000
0.62
6.9
453.1
6.9
34.00
5.9
4,913.9
59.8
YTD%
1.80
4.7
2.4
(23.1)
88.25
4.4
135.1
64.2
Abu Dhabi
2.60
4.0
169.0
46.9
#
1D% Vol. ‘000
YTD%
7.72
(9.2)
0.0
(22.8)
Saudi Arabia
14.64
(7.3)
6,720.7
14.5
MEDGULF
Saudi Arabia
30.70
(4.4)
590.5
36.1
Comm. Bank of Kuwait
Kuwait
0.73
(2.7)
0.0
2.8
Bahrain Telecomm. .
Bahrain
0.30
(2.6)
640.5
(18.3)
Abu Dhabi: The ADX benchmark index gained 0.5% to close at 3,837.0. The
Banking index rose 1.0%, while the Industrial index was up 0.2%. Abu Dhabi
Nat. Co. for B & M gained 8.9%, while Green Crescent Ins. Co. was up 5.9%.
GCC Top Losers
Exchange
Nat. Marine Dredging
Abu Dhabi
Kuwait: The KSE index rose 0.5% to close at 7,838.2. The
Telecommunication index gained 4.4%, while the Basic Material index was up
1.4%. Hits Telecom Holding rose 8.3%, while Ekttitab Holding was up 8.1%.
Atheeb United
Oman: The MSM index was closed on November 27, 2013.
Bahrain: The BHB index declined marginally to close at 1,197.3. The Services
index fell 1.3%. Bahrain Telecomm. Co. declined 2.6%, while Ahli United Bank
was down 0.7%.
Close
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)
Al Ahli Bank
Close*
1D%
Vol. ‘000
YTD%
Close*
1D%
Vol. ‘000
YTD%
56.00
Qatar Exchange Top Gainers
2.8
1.2
14.3
Zad Holding Co.
66.80
(1.8)
0.1
13.6
39.00
(0.9)
57.0
6.4
Qatar Exchange Top Losers
20.50
1.9
1,413.6
34.3
Al Khaleej Takaful Group
173.00
1.8
190.0
32.2
Islamic Holding Group
40.40
(0.9)
1.4
0.1
88.00
1.7
2.5
8.6
Qatar Cinema & Film Dist.Co.
42.00
(0.8)
0.6
(26.2)
Qatar Electricity & Water Co.
166.40
1.7
19.3
25.7
Doha Insurance Co.
25.50
(0.8)
22.2
3.9
Qatar Exchange Top Vol. Trades
Qatar Gas Transport Co.
QNB Group
Mannai Corp.
Close*
1D%
Vol. ‘000
YTD%
Close*
1D%
Val. ‘000
YTD%
Vodafone Qatar
11.01
1.5
4,439.3
31.9
Vodafone Qatar
11.01
1.5
48,703.3
31.9
United Development Co.
23.50
(0.1)
1,782.5
32.0
United Development Co.
23.50
(0.1)
41,748.2
32.0
Qatar Gas Transport Co.
20.50
1.9
1,413.6
34.3
Barwa Real Estate Co.
30.00
0.3
39,226.3
9.3
Barwa Real Estate Co.
30.00
0.3
1,313.6
9.3
Industries Qatar
168.50
1.5
38,250.6
19.5
Mazaya Qatar Real Estate Dev.
11.70
0.0
954.9
6.4
QNB Group
173.00
1.8
32,567.1
32.2
Source: Bloomberg (* in QR)
Source: Bloomberg (* in QR)
Regional Indices
Qatar*
Dubai
Abu Dhabi
Saudi Arabia
Kuwait
Oman
Bahrain
Qatar Exchange Top Val. Trades
Close
1D%
WTD%
MTD%
YTD%
10,353.15
2,898.97
3,837.04
8,300.65
7,838.20
6,726.29
1,197.27
0.8
0.5
0.5
0.0
0.5
N/A
(0.0)
0.7
0.3
0.1
(0.4)
(0.0)
(0.7)
(0.4)
5.2
(0.8)
(0.2)
3.2
(1.4)
0.8
(0.4)
23.9
78.7
45.8
22.0
32.1
16.8
12.4
Exch. Val. Traded
($ mn)
116.02
297.84
84.80
975.97
109.08
N/A
1.24
Exchange Mkt.
Cap. ($ mn)
152,565.8
69,262.1
110,492.4
450,676.8
110,398.5
24,072.2#
49,442.9
P/E**
P/B**
13.2
17.1
10.6
17.0
18.1
10.7
8.1
1.8
1.2
1.3
2.1
1.3
1.6
0.8
Dividend
Yield
4.4
3.1
4.7
3.6
3.6
3.9
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) ( Data as of Nov. 26, 2013)
Page 1 of 5
2. Qatar Market Commentary
The QE index rose 0.8% to close at 10,353.2. The Industrials
and Banking & Financial Services indices led the gains. The
index rose on the back of buying support from Qatari
shareholders despite selling pressure from non-Qatari
shareholders.
Overall Activity
Buy %*
Sell %*
Net (QR)
Qatari
71.48%
71.47%
59,268.75
Non-Qatari
28.52%
28.53%
(59,268.75)
Source: Qatar Exchange (* as a % of traded value)
Al Ahli Bank and Qatar Gas Transport Co. were the top gainers,
rising 2.8% and 1.9% respectively. Among the top losers, Zad
Holding Co. fell 1.8%, while Al Khaleej Takaful Group declined
0.9%.
Volume of shares traded on Wednesday declined by 5.7% to
14.8mn from 15.7mn on Tuesday. However, as compared to the
30-day moving average of 11.0mn, volume for the day was
34.8% higher. Vodafone Qatar and United Development Co.
were the most active stocks, contributing 30.0% and 12.1% to
the total volume respectively.
Ratings and Global Economic Data
Ratings Updates
Company
Agency
Market
Type*
Old Rating
New Rating
Rating Change
Outlook
Outlook Change
AA-/AA-/AA-
AA-/AA-/AA-
–
Stable
–
B++/bbb+
B++/bbb+
–
Stable
–
Consensus
Previous
-2.30%
Saudi Electricity Co.
(SEC)
Fitch
Saudi
Arabia
LT IDR/ Senior
unsecured rating/
Outstanding Sukuk
issues
Trade Union
Cooperative
Insurance Co.
(TUCI)
A.M.
Best
Saudi
Arabia
FSR/ ICR
Source: News reports (* LT – Long Term, ST – Short Term, FSR - Financial Strength Rating, IDR – Issuer Default Rating, ICR – Issuer Credit Rating)
Global Economic Data
Date
Market
Source
Indicator
Period
Actual
11/27
US
MBA
MBA Mortgage Applications
22-November
-0.30%
–
11/27
US
Labor Department
Initial Jobless Claims
23-November
316K
330K
326K
11/27
US
Labor Department
Continuing Claims
16-November
2,776K
2,850K
2,867K
11/27
US
The Commerce Deptt.
Durable Goods Orders
October
-2.00%
-2.00%
4.10%
11/27
US
Bloomberg
Bloomberg Consumer Comfort
24-November
-33.7
–
-34.6
11/27
US
Conference Board
Leading Index
October
0.20%
0.00%
0.90%
11/27
France
INSEE
Consumer Confidence
November
84
85
85
11/27
Germany
Destasis
GfK Consumer Confidence
December
7.4
7.1
7.1
11/27
UK
ONS
GDP QoQ
3Q2013
0.80%
0.80%
0.80%
11/27
UK
ONS
GDP YoY
3Q2013
1.50%
1.50%
1.50%
11/27
UK
CBI
CBI Reported Sales
November
1
10
2
11/27
Spain
INE
Retail Sales YoY
October
-0.60%
–
2.10%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
CBQK to raise QR2bn to enhance CAR – The Commercial
Bank of Qatar’s (CBQK) board has received the nod from
shareholders to raise QR2bn in additional Tier 1 capital to
enhance the bank’s capital adequacy ratios (CAR) and to
support the future growth across the group. (Gulf-Times.com,
Peninsula Qatar)
ABQK signs $20mn LoC with ATFP – Ahli Bank (ABQK) has
signed a line of credit (LoC) agreement worth $20mn with Arab
Trade Financing Program (ATFP) to finance foreign trade of
Qatar. ABQK is the designated national agency for this program
in Qatar. (QE)
ORDS prices its $1.25bn sukuk – Ooredoo (ORDS) has
successfully priced the $1.25bn sukuk under its $2bn Trust
Certificate Program, which was oversubscribed four times.
Ooredoo Tamweel Ltd – a special purpose vehicle established
by Ooredoo – will issue this sukuk, which will mature on
December 3, 2018 and will have a profit rate of 3.04%. The
sukuk will be listed on the official list of the Irish Stock Exchange
and will be admitted to trading on its main securities market. The
net proceeds from this issue will be used for general corporate
purposes such as refinancing of existing debt. (QE)
Doha Metro project on fast track – Qatar Rail’s Deputy CEO
and Chief Program Officer Hamad Al Bishri said work on the first
phase of Doha Metro Project is progressing rapidly as drilling for
tunnels and work on 80% of stations have begun. He added that
the works to set up metro stations in 20 out of 25 locations have
started. (Peninsula Qatar)
Qatar, Indonesia sign aviation pact – Qatar and Indonesia
have signed a MoU in aviation to increase Qatar Airways’ flights
to Indonesia. According to the MoU, Qatar Airways will increase
Page 2 of 5
3. its weekly passenger flights to 45 and cargo flights to 10,
spreading over the five major cities of Jakarta, Denpasar,
Medan, Batam and Manado. (Gulf-Times.com)
Qatari Diar to resume tower construction – Qatari Diar has
decided to resume the construction of the Doha Convention
Centre Tower. (Gulf-Times.com)
International
ECB: Stress in Eurozone’s financial system reduces to precrisis levels – The European Central Bank (ECB) said stress in
the Eurozone’s financial sector has fallen to levels unseen since
the global financial crisis began in 2007, but the sector remains
fragile. In its semi-annual review, the ECB said the key risks to
Eurozone’s financial stability are: economic & financial shocks,
tensions in government debt markets, global financial market
turbulence, and bank funding challenges in the Eurozone
periphery. The ECB said stress indicators and fundamentals
suggest easing of financial market tensions, especially on
banks’ funding. (Gulf-Times.com)
Former Fed Chairman: US economy probably will grow more
slowly next year – Former Federal Reserve Chairman Alan
Greenspan said the US economy probably will grow more slowly
next year than some forecasters predict and indicated that a
record US stock market is not in a bubble. Greenspan said that
even with the rise in equities, the US economy is restrained by a
degree of uncertainty that is reducing investment. He added that
economists who forecast 2.5-3% growth next year may be too
optimistic. Greenspan said his 2014 growth forecast is closer to
2%. Greenspan said the economy is being held back in part by
the banking system, as some of the largest banks are not
operating efficiently. (Bloomberg)
IMF: Canada can wait until 2015 to raise rates – The
International Monetary Fund (IMF) said slower growth in
consumer debt and a cooler housing market will allow the Bank
of Canada to wait until early 2015 to raise interest rates as it
waits for a pick-up in exports. The IMF said inflation should
accelerate to reach the central bank’s 2% target by the end of
2015 and growth will quicken to 2.25% in 2014 from 1.6% this
year, in line with the bank’s forecast. (Bloomberg)
ECB VP: would consider negative rates in extreme situation
– The European Central Bank (ECB) Vice President Vitor
Constancio said the central bank would only take its key deposit
rate - currently at zero percent - into negative territory in an
extreme situation. Earlier, the ECB pared back its central “refi”
refinancing rate by a quarter of a percentage point to a new alltime low of 0.25%. And although ECB Chief Mario Draghi said
the central bank was technically ready to introduce negative
interest rates on its deposit facility, it left that rate unchanged at
zero percent. (ET)
OECD: Greece to remain in recession next year – The
Organization for Economic Cooperation & Development (OECD)
said Greece will remain mired in recession in 2014 for the
seventh straight year. In contrast to forecasts by Athens, the
OECD said Greece is likely to need more financial assistance.
The OECD said the Greek economy would contract by 0.4%.
(Peninsula Qatar)
Regional
S&P: GCC Sukuk issuance grows to $14.8bn – According to
a report by S&P, sukuk issuance by various corporate and
infrastructure companies in the GCC region grew robustly at
11% in the year till date September 24, 2013, to reach $14.8bn.
In contrast, volumes decreased by about 25% in Malaysia
during this period, which affected the overall global
performance. The report noted that demand for sukuk by
corporate and infrastructure issuers in the Gulf is likely to grow
steadily at a double-digit pace over the next two years, despite
weakness across the globe in the past year. (Peninsula Qatar)
GCC TC to set up integrated logistics firm – The GCC
Transport Committee’s (GCC TC) Vice President Ali bin
Abdulatif Al Misnad said the region will soon establish an
integrated logistics company for speedier and hassle-free
transportation of goods across the six Gulf states. This new
company is expected to start operating from 3Q2014. Al Misnad
said that once in operation, the logistics company is expected to
facilitate trade among the GCC states as it aims to make
logistics services more cost effective and efficient. (Peninsula
Qatar)
CSC: SEC to invest SR101bn in new projects – According to
a study by the Council of Saudi Chambers (CSC), the Saudi
Electricity Company (SEC) is planning to invest nearly SR101bn
in new electricity projects to address the growing demand for
power. The CSC study showed that SEC’s plans include 174
projects worth SR67bn for power generation, 290 projects worth
around SR24bn for power transportation and 170 power
distribution ventures at a cost of SR10bn within the Kingdom.
The report said SEC is also executing 634 projects in the Saudi
energy sector at a cost of around SR100bn. (Zawya)
HSBC, Jafza sign MoU to attract businesses – HSBC and
Jebel Ali Free Zone (Jafza) have entered into a MoU to attract
regional and global businesses to the free zone. (GulfBase.com)
Tadawul, BHB sign MoU to enhance cooperation – The
Saudi Stock Exchange (Tadawul) and the Bahrain Bourse (BHB)
have signed a MoU to deepen the existing cooperation between
the two stock exchanges. This MoU will enable Tadawul and
BHB to share knowledge and expertise, open the door for skills
development and explore future opportunities related to capital
market development and policy alignment initiatives. (Tadawul)
MEED: $10bn projects awarded in UAE construction sector
in 2013 YTD – According to the data released by MEED
Projects, projects worth $10bn have been awarded in the UAE
construction sector so far in 2013. MEED Projects expects the
value of projects awarded in the Emirates to exceed the $13bn
awarded in 2012. Further, MEED’s data showed that contracts
worth $76bn have been awarded for construction and transport
projects in the GCC region in 2013 YTD. Around 42% of this
amount was awarded by Qatar Rail and ATA for five packages
of the Doha Metro project, and three of the Riyadh Metro
projects. (GulfBase.com)
Al Suwaidi: UAE banks are safe – The UAE Central Bank’s
Governor Sultan Nasser Al Suwaidi said the banking industry in
the UAE is safe and secure. Al Suwaidi said that the presence of
numerous foreign banks as well as 23 local banks was an
indication of global confidence in the UAE’s banking system. He
added that overall confidence in the UAE banks is justifiably
strong, thanks to the effective supervision and precautionary
mechanisms put in place to safeguard the system. (Zawya)
Dubai issues mandatory health insurance law with 3-year
rollout – Dubai's ruler Mohammed bin Rashid Al Maktoum has
approved a law that requires all employers in the Emirate to
purchase health insurance for their expatriate staff. This move is
expected to boost healthcare spending by its 2.2mn residents
considerably. This law will be rolled out in phases by 2016. In
order to issue policies, insurance companies will have to secure
a special permit from the health authority. (Reuters)
Dubai wins vote to host 2020 World Expo – Dubai has
obtained the right to host the 2020 World Expo, beating off
Page 3 of 5
4. competition from Sao Paulo in Brazil, Yekaterinburg in Russia
and Izmir in Turkey. With this win, Dubai becomes the first
Middle Eastern city to host the world trade fair, which the UAE
hopes will attract in billions of dollars of investment. Held once in
five years, these World Expos are used to showcase the
technological prowess, culture and architecture of the
participating countries. Milan will host the next World Expo in
2015. (Gulf-Times.com)
ADAC in talks with UAE banks for financing – The Abu Dhabi
Aviation Company’s (ADAC) CFO Ashraf Fahmy said the
company is in talks with some UAE banks for financing. Fahmy
said the company is exploring business opportunities in Africa
with a focus on Nigeria and South Sudan for supplying
helicopters to oil & gas exploration companies. (Bloomberg)
Dubai property brokers earn AED1.4bn commission during
Jan-Oct 2013 – According to the Dubai Land Department
(DLD), the Emirate’s real estate brokers have earned
commissions worth AED1.4bn during January-October 2013.
The total transactions during this period stood at AED73.87bn,
while sales accounted for the largest share worth AED59.5bn,
resulting in AED1.19bn as brokers’ share. These transactions
included sales operations, selling usufruct, registering deferred
sale, request for rent to owner (transfer), and registration of land
addition by sale. (GulfBase.com)
DME opens new interest record for OCOF contract – The
Dubai Mercantile Exchange (DME) has opened a new interest
record for its Oman Crude Oil Futures contract (OCOF) of
24,391 lots, which is equivalent to 24.4mn barrels of crude oil.
(GulfBase.com)
Gulf investors’ consortium in talks to buy NPS Energy for
$700mn – A consortium of Gulf investors are in talks to buy
Dubai-based NPS Energy for $700mn. This consortium
comprises Fajr Capital, Saudi Arabia’s Arab Petroleum
Investments Corporation, a development bank established by
the Organization of Arab Petroleum Exporting Countries and
Zamil Group. HSBC Holdings is managing this sale process for
NPS Energy, which is up for sale once again after a deal with
Norway's Aker Solutions fell apart in 2012. (Reuters)
UPP to pay first dividend in 5 years in 2014, expects
AED300mn profit in 4Q2013 – Union Properties’ (UPP)
Chairman Khalid bin Kalban said the company may pay its first
dividend in five years in 2014. After the company reduced
borrowing costs and started new projects, UPP is expecting its
4Q2013 profit to reach AED300mn, the highest since 2Q2008.
Bin Kalban said that UPP may report a full year profit of around
AED600mn in 2013, which is triple the profit of 2012.
Meanwhile, UPP is in talks with investors including Emirates
NBD to develop two residential projects in Dubai. The company
will charge a fee for project management, land sales and design,
while its investors will finance the project construction. Further,
Bin Kalban said that UPP is set to start work on four residential
developments and two retail projects valued at around
AED1.5bn. All these projects will be extensions of existing
communities. (Bloomberg)
Pay-TV operator OSN scraps IPO plans – Dubai based payTV operator OSN has abandoned its plan to sell shares in an
initial public offering. OSN's Chief Financial Officer Olivier Sage
said there are no plans for an IPO now, and the company wants
to focus on growing its business and subscriber base. Earlier in
June, Kuwait Projects Company, which owns a 60.5% stake in
OSN, had hired a private investment bank Rothschild to advice
on the IPO. (Bloomberg)
Aldar Properties prices its $750mn sukuk – Aldar Properties
has successfully priced its $750mn, five-year non-convertible
sukuk, which will be issued at par with a profit rate of 4.348%.
The sukuk was priced at a spread of 290 basis points over dollar
mid-swap rates. The proceeds from this issue will be used to
refinance maturing debts. (ADX)
Page 4 of 5
5. Rebased Performance
Daily Index Performance
160.0
150.0
140.0
130.0
120.0
110.0
100.0
90.0
80.0
1.2%
0.5%
0.5%
Dubai
0.5%
0.7%
Abu Dhabi
0.8%
148.8
130.4
0.0%
0.0%
(0.0%)
Oct-11
QE Index
May-12 Dec-12
S&P Pan Arab
Jul-13
S&P GCC
Source: Bloomberg
Asset/Currency Performance
Gold/Ounce
Silver/Ounce
Crude Oil (Brent)/Barrel (FM
Future)
Natural Gas (Henry
Hub)/MMBtu
North American Spot LPG
Propane Price
North American Spot LPG
Normal Butane Price
Euro
Source: Bloomberg (*Market closed on November 27, 2013)
Close ($)
1D%
WTD%
YTD%
Global Indices Performance
1,238.08
(0.4)
(0.5)
(26.2)
DJ Industrial
19.67
(1.0)
(1.0)
(35.3)
111.43
0.5
0.4
0.3
3.79
(2.1)
0.5
10.7
STOXX 600
117.00
1.7
(2.3)
30.7
137.25
0.6
(4.0)
(20.6)
1.36
(0.1)
(0.2)
2.6
102.17
0.9
0.9
17.8
GBP
1.63
0.5
0.3
0.1
CHF
1.10
0.2
0.2
1.2
AUD
0.91
(0.2)
(1.5)
(12.9)
USD Index
80.72
0.1
0.0
RUB
33.20
0.7
1.4
BRL
0.43
(2.4)
(3.9)
(13.4)
Yen
Kuwait
Jan-10 Aug-10 Mar-11
Qatar
(0.8%)
Saudi Arabia
(0.3%)
Oman*
0.2%
Bahrain
118.4
Close
1D%
WTD%
YTD%
16,097.30
0.2
0.2
22.9
S&P 500
1,811.02
0.2
0.2
26.9
NASDAQ 100
4,044.75
0.7
1.4
34.0
324.04
0.6
0.4
15.9
DAX
9,351.13
0.7
1.5
22.9
FTSE 100
6,649.47
0.2
(0.4)
12.7
4,293.06
0.4
0.3
17.8
15,449.63
(0.4)
0.4
48.7
MSCI EM
1,008.81
0.3
(0.1)
(4.5)
SHANGHAI SE Composite
2,201.07
0.8
0.2
(3.0)
HANG SENG
23,806.30
0.5
0.4
5.1
1.2
BSE SENSEX
20,420.30
(0.0)
1.0
5.2
8.8
Bovespa
51,861.20
0.8
(1.7)
(14.9)
1,404.31
(0.9)
(2.8)
(8.0)
Source: Bloomberg
CAC 40
Nikkei
RTS
Source: Bloomberg
Contacts
Saugata Sarkar
Ahmed M. Shehada
Keith Whitney
Sahbi Kasraoui
Head of Research
Head of Trading
Head of Sales
Manager - HNWI
Tel: (+974) 4476 6534
Tel: (+974) 4476 6535
Tel: (+974) 4476 6533
Tel: (+974) 4476 6544
saugata.sarkar@qnbfs.com.qa
ahmed.shehada@qnbfs.com.qa
keith.whitney@qnbfs.com.qa
sahbi.alkasraoui@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential
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