1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.4% to close at 12,679.5. Losses were led by the
Telecoms and Transportation indices, declining 1.4% and 1.1% respectively.
Top losers were Gulf International Services and QNB Group falling 1.9% and
1.6% respectively. Among the top gainers, Qatar Cinema & Film Dist. Co. rose
2.5%, while Aamal Co. gained 2.3%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.4% to close at 9,765.8. Gains were led
by Media & Pub. and Build. & Con. indices, rising 6.9% and 0.9% respectively.
Tihama gained 10.0%, while Gulf Union Coop. Ins. gained 9.7%.
Dubai: The DFM index gained 4.2% to close at 4,850.5. The Investment &
Financial Services index gained 7.1%, while the Banking index rose 4.5%.
Takaful House rose 11.7%, while Drake & Scull International was up 8.2%.
Abu Dhabi: The ADX benchmark index rose 1.7% to close at 4831.5. The Inv.
& Fin. Ser. index gained 6.9%, while Real Estate index was up 4.1%.
RAKBank rose 9.0%, while Abu Dhabi Shipbuild. was up 7.9%.
Kuwait: The KSE index fell marginally to close at 7,378.4. The Industrial index
declined 0.5%, while Technology index was down 0.3%. International Financial
Advisers Co. fell 4.8%, while Hilal Cement Co. was down 4.4%.
Oman: The MSM index declined 0.6% to close at 6,758.9. Losses were led by
the Financial and Industrial indices, falling 0.8% and 0.4% respectively. Al
Batinah Dev.Inv. declined 3.2%, while Al Sharqia Inv. was down 3.0%.
Bahrain: The BHB index gained 0.1% to close at 1,451.9. The Investment
index rose 0.8%, while the Services index was up 0.3%. Albaraka Banking
Group gained 4.7%, while BBK was up 1.9%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Cinema & Film Dist. Co. 42.50 2.5 0.1 6.0
Aamal Co. 17.49 2.3 433.5 16.6
Mannai Corp. 119.90 2.0 98.1 33.4
Islamic Holding Group 69.80 1.9 28.3 51.7
Al Khalij Commercial Bank 23.40 1.9 359.9 17.1
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 27.50 1.5 3,424.1 61.8
Masraf Al Rayan 50.20 0.6 1,848.7 60.4
Vodafone Qatar 17.84 (1.2) 1,683.4 66.6
United Development Co. 25.85 0.8 1,522.3 20.1
Qatar Gas Transport Co. 23.27 (1.6) 1,021.4 14.9
Market Indicators 21 May 14 20 May 14 %Chg.
Value Traded (QR mn) 776.7 961.4 (19.2)
Exch. Market Cap. (QR mn) 709,180.8 711,644.3 (0.3)
Volume (mn) 16.3 22.0 (25.9)
Number of Transactions 9,344 10,086 (7.4)
Companies Traded 43 43 0.0
Market Breadth 20:19 14:26 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,907.91 (0.4) (3.2) 27.5 N/A
All Share Index 3,226.25 (0.4) (3.1) 24.7 15.5
Banks 3,084.93 (0.4) (3.0) 26.2 15.4
Industrials 4,320.61 0.0 (4.1) 23.4 16.8
Transportation 2,258.35 (1.1) (5.2) 21.5 14.5
Real Estate 2,632.85 (0.4) (0.8) 34.8 13.2
Insurance 3,235.98 0.2 (2.0) 38.5 8.5
Telecoms 1,683.20 (1.4) (2.6) 15.8 23.5
Consumer 6,966.15 (0.6) (1.8) 17.1 27.2
Al Rayan Islamic Index 4,229.11 (0.0) (2.4) 39.3 18.4
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Tihama Saudi Arabia 401.50 10.0 116.5 265.8
Saudi Fisheries Saudi Arabia 45.89 9.0 14,206.4 48.5
RAKBANK Abu Dhabi 8.50 9.0 251.0 19.0
Drake & Scull Int. Dubai 1.58 8.2 22,762.5 9.7
Dubai Financial Market Dubai 3.44 7.5 24,587.8 39.3
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Investbank Abu Dhabi 3.00 (9.1) 1.0 22.7
Ithmaar Bank Bahrain 0.16 (3.0) 100.0 (30.4)
National Shipping Co. Saudi Arabia 34.91 (2.8) 3,354.1 23.8
Hsbc Bank Oman Muscat 0.15 (2.6) 179.1 (14.8)
Aluminium Bahrain Bahrain 0.46 (2.6) 112.0 (12.8)
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%
Gulf International Services 94.90 (1.9) 105.6 94.5
QNB Group 182.00 (1.6) 300.6 5.8
Qatar Gas Transport Co. 23.27 (1.6) 1,021.4 14.9
Doha Insurance Co. 24.21 (1.6) 55.2 (3.2)
Mesaieed Petrochem. Hold. Co. 32.35 (1.5) 789.4 223.5
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 179.50 0.3 93,784.2 6.3
Ezdan Holding Group 27.50 1.5 93,545.2 61.8
Masraf Al Rayan 50.20 0.6 93,063.3 60.4
QNB Group 182.00 (1.6) 55,399.9 5.8
Qatar Islamic Bank 91.60 (0.4) 46,598.8 32.8
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* 12,679.53 (0.4) (3.2) 0.0 22.2 213.33 194,812.0 15.8 2.2 3.9
Dubai 4,850.49 4.2 (6.4) (4.1) 43.9 664.74 90,455.6 19.5 1.9 2.1
Abu Dhabi 4,831.48 1.7 (3.8) (4.2) 12.6 164.96 132,969.8 14.2 1.8 3.5
Saudi Arabia 9,765.82 0.4 (0.4) 1.9 14.4 3,364.95 527,971.3 19.4 2.4 2.9
Kuwait 7,378.35 (0.0) (0.3) (0.4) (2.3) 91.56 114,652.8 15.3 1.2 3.8
Oman 6,758.91 (0.6) 0.4 0.5 (1.1) 12.37 24,565.3 12.4 1.7 3.9
Bahrain 1,451.93 0.1 (0.8) 1.7 16.3 7.04 53,798.7 10.5 1.0 4.7
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
12,600
12,650
12,700
12,750
12,800
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 0.4% to close at 12,679.5. The Telecoms
and Transportation indices led the losses. The index fell on the
back of selling pressure from Qatari shareholders despite buying
support from non-Qatari shareholders.
 Gulf International Services and QNB Group were the top losers,
falling 1.9% and 1.6% respectively. Among the top gainers,
Qatar Cinema & Film Dist. Co. rose 2.5%, while Aamal Co.
gained 2.3%.
 Volume of shares traded on Wednesday fell by 25.9% to 16.3mn
from 22.0mn on Tuesday. Further, as compared to the 30-day
moving average of 30.1mn, volume for the day was 45.9% lower.
Ezdan Holding Group and Masraf Al Rayan were the most active
stocks, contributing 21.1% and 11.4% 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
Qatar International
Islamic Bank (QIIK)
Moody’s Qatar GLTIR/ ST IR/ BFSR
A3 /Prime-2
/D+
A3 /Prime-2
/D+
– Positive 
National Bank of
Bahrain (NBB)
Capital
Intelligence
(CI)
Bahrain LT FCR / ST FCR BBB /A2 BBB /A2 – Stable –
Source: News reports (* GLTIR – Global Long Term Issuer Rating, STIR – Short Term Issuer Rating, BFSR- Bank Financial Strength Rating, FCR – Foreign Currency Rating, LCR – Local Currency Rating, IDR
– Issuer Default Rating, Issuer Rating –IR, SR – Support Rating, LC – Local Currency, Global Long Term Issuer Rating- GLTIR)
Earnings Releases
Company Market Currency
Revenue
(mn)1Q2014
% Change
YoY
Operating Profit
(mn) 1Q2014
% Change
YoY
Net Profit (mn)
1Q2014
% Change
YoY
International Financial
Advisors (IFA)
Kuwait KD 5.3 -72.0% – – -1.9 NA
Palms Agro Production Co.
(PAPCO)
Kuwait KD – – – – 0.1 -14.6%
Kuwait Remal Real Estate
Co.
Kuwait KD – – – – 0.7 -60.6%
Oula Fuel Marketing Co. Kuwait KD – – – – 1.0 -17.6%
National Consumer
Industries Holding (NCCI)
Kuwait KD – – – – 0.4 892.1%
Al-Safat Tech Holding Co.
(SAFTEC)
Kuwait KD – – – – 0.6 -26.5%
ALARGAN International
Real Estate Co.
Kuwait KD – – – – 0.6 -21.5%
United Projects Co. for
Aviation Services (UPAC)
Kuwait KD – – – – 1.5 -23.0%
KGL Logistics Co. Kuwait KD – – – – 1.3 -59.1%
Source: Company data, DFM, ADX, MSM
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/21 US MBA MBA Mortgage Applications 16 May 0.90% – 3.60%
05/21 EU European Central Bank ECB Current Account SA March 18.8B – 21.8B
05/21 EU European Central Bank Current Account NSA March 20.9B – 13.8B
05/21 EU European Commission Consumer Confidence May -7.1 -8.3 -8.6
05/21 UK ONS Retail Sales Ex Auto MoM April 1.80% 0.50% 0.10%
05/21 UK ONS Retail Sales Ex Auto YoY April 7.70% 5.40% 4.90%
05/21 UK ONS Retail Sales Incl. Auto MoM April 1.30% 0.40% 0.50%
05/21 UK ONS Retail Sales Incl. Auto YoY April 6.90% 5.10% 4.80%
05/21 Japan Ministry of Finance Exports YoY April 5.1 4.4 1.8
05/21 Japan Ministry of Finance Imports YoY April 3.4 1.2 18.1
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 50.51% 52.70% (16,910,518.15)
Non-Qatari 49.48% 47.30% 16,910,518.15

3. Page 3 of 5
News
Qatar
 Moody's affirms Qatar International Islamic Bank ratings;
changed outlook to positive from stable – Moody's Investors
Service has today affirmed Qatar International Islamic Bank
(Q.S.C.)'s (QIIK) A3 global long term issuer ratings, Prime-2
short term issuer ratings and D+ standalone bank financial
strength rating (BFSR), which is equivalent to a ba1 baseline
credit assessment (BCA). At the same time, Moody's changed
the outlook on the bank's long-term ratings to positive from
stable. (Moody’s)
 Doha Bank to raise capital in 2015 – Doha Bank plans to raise
additional capital in 2015 to underpin fast asset growth and
potential acquisitions, the group chief executive of Qatar’s
fourth-largest bank by assets said yesterday. The bank is
looking at several options to raise capital, such as a rights issue,
R. Seetharaman told reporters at a news conference in Kuwait.
“If our organic expansion is per the growth model we envisage,
then we will need additional capital, which we will mobilize next
year,” he said. (Gulf-times.com)
 DHBK sees enhanced potential in Kuwait – Doha Bank’s
(DHBK) Group CEO, Dr. R. Seetharaman said building the
bank’s partnerships in Kuwait is one of the top priorities in the
current fiscal year. Dr. Seetharaman said Kuwait enjoys strong
bilateral trade partnerships with countries such as the US, the
UK, India, Japan, South Korea and China. Kuwaiti companies
are also seeking to establish strong partnerships or to grow
organically in these markets, and DHBK is keen to support their
ambitions through its global representative network. In addition
to full branches in Qatar, Kuwait, and the UAE, DHBK has
representative offices in Canada, the UK, Germany, Turkey,
South Korea, China, Hong Kong, Singapore, Japan, and
Australia. (AmeInfo.com)
 ORDS announces date to pay profits to Sukuk holders –
Ooredoo’s (ORDS) wholly owned subsidiary, Ooredoo Tamweel
Limited (OTL), will pay the periodic payment to its Sukuk holders
on June 3, 2014. (QE)
 ORDS, Barwa Bank extend partnership for bill payment
options – Ooredoo and Barwa Bank have entered into an
agreement to enable Barwa’s customers to pay their prepaid
and postpaid ORDS services in real-time through Barwa's
mobile and internet banking services. Under the agreement,
Barwa’s customers can pay ORDS’ bills and top-up their Hala
accounts quickly via Barwa’s secure online and mobile banking
services. (Gulf-Times.com)
International
 Eurozone’s May consumer confidence jumps to 6.5-year
high – The European Commission's first estimate showed that
Eurozone consumer confidence has jumped much more than
expected to -7.1 points in May 2014, rising to its highest level in
six and a half years. Economists polled by Reuters had
expected an improvement to -8.2 from a revised -8.6 in April.
The Commission said the May figure is the best reading since
October 2007, when it stood at -6.2. For the entire 28-nation
European Union, consumer confidence improved by 1.6 points
to -4.1 in May against April. (Reuters)
 EU reaches final agreement on bank back-up fund –
European Union countries – excluding Sweden and the UK –
reached a final agreement on setting up a common €55bn
Eurozone back-up fund to help shut down failing banks. Earlier
in March 2014, Europe had wrapped up negotiations on
establishing a banking union, with the European Central Bank
taking over as the region’s bank watchdog at the end of this
year. Under the deal, a back-up fund will be built up over eight
years to reach a target level of at least 1% of all banks' covered
deposits. Levies will be collected from banks nationally and
transferred to the Single Resolution Fund's so-called National
Compartments, which will be gradually merged. (Reuters)
 China manufacturing PMI rises hinting at stabilization – A
Chinese manufacturing gauge rose to a five-month high in May,
sending Asian stocks higher on speculation that the economy is
stabilizing due to government moves to counter a slowdown. A
preliminary Purchasing Managers' Index (PMI) from HSBC and
Markit Economics stood at 49.7, exceeding the final reading of
48.1 in April and the 48.3 median estimate from analysts
surveyed by Bloomberg News. However, the number remained
below the expansion-contraction line of 50. The report showed
rebounding output and orders, fueling optimism Chinese
demand will be sustained after the government announced tax
breaks and accelerated spending on railways to protect a 7.5%
annual growth target. At the same time, a property slump and
slowing investment and retail sales have threatened the pace of
expansion. (Bloomberg)
 Russia, China sign $400bn gas supply agreement – China
and Russia signed a long-awaited natural gas supply deal,
securing the world's top energy user a major new source of the
clean fuel and opening a new market for Moscow, as Europeans
look elsewhere for their energy supply. The deal would see
Russia supply 38bn cubic meters (bcm) of gas to China each
year for 30 years under a contract valued in excess of $400bn.
The gas will be transported along a new pipeline linking Siberian
gas fields to China's main consumption centers near its
coastline. Russian President Vladimir Putin and Chinese
counterpart Xi Jinping witnessed the deal in Shanghai, which
was signed by Russian state-controlled company Gazprom and
China National Petroleum Corp (CNPC). (Reuters)
Regional
 IMF: Kingdom growth rate above 4% – The International
Monetary Fund (IMF) expects the Kingdom to achieve a growth
rate above 4% in 2014 and 2015, led by government spending
and robust private sector activity. The report said the Kingdom
continues to play a systemic role in stabilizing the global oil
market, which contributes positively to the global economy. The
IMF report said the government is undertaking an ambitious
economic reform and investment program to further develop and
diversify the economy and create jobs, and the program is
focused on further developing infrastructure, improving the
business environment, increasing the quality of education and
skills, and employing more Saudi nationals in the private sector.
(Gulfbase.com)
 BAJ’s EGM approves 33.33% capital rise; Tadawul deposits
BAJ’s bonus shares – Bank AlJazira’s (BAJ) EGM has
approved 33.33% increase in its share capital from SR3bn to
SR4bn, by issuing one bonus share for every three shares
owned. This increase will be financed through transferring
SR500mn from the retained earnings account and SR500mn
from the statutory reserve account to the bank’s capital.
Consequently, the bank’s outstanding shares will increase from
300mn to 400mn shares. Meanwhile, the Saudi Stock Exchange
(Tadawul) has added BAJ’s bonus shares into its investors’
portfolios. The fluctuation limit for the company’s shares on May
21, 2014 will be based on a stock price of SR31.88. (Tadawul)
 AACIC unveils SR350mn expansion plan – Abdulaziz Al
Saghyir Commercial Investment Company (AACIC) has

4. Page 4 of 5
launched a SR350mn investment expansion plan in the Saudi
market. The expansion allocates about SR250mn for acquisition
opportunities and SR50mn to develop the existing branches and
opening new ones, while the remaining SR50mn are intended
for innovating new products. (GulfBase.com)
 Alinma Bank, Saudi REDF sign home financing deal –
Alinma Bank has signed a home financing agreement with Saudi
Arabian Real Estate Development Fund (Saudi REDF). Under
the agreement, Alinma’s clients will receive long-term financing
from Alinma to bridge the gap between the financing extended
to citizens by Saudi REDF and the full cost of their purchased
homes. (GulfBase.com)
 STC plans Sukuk issuance program – The Saudi Telecom
Company (STC) has announced the establishment of Saudi riyal
(SR) denominated Sukuk issuance program, which is a
framework for the regular issuance of Sukuk up to a limit of
SR5bn by way of private placement. STC has submitted the
base prospectus for the proposed sukuk program to the Saudi
Capital Markets Authority in accordance with securities
regulations. (Tadawul)
 UAE Central Bank: Total bank deposits increased 2.5% in
March – Central Bank of UAE has announced that the total
bank deposits increased by 2.5% during the month of March
2014 to reach AED1,331.7bn, as a result of an increase in
resident deposits by AED30.6bn and an increase in non-resident
deposits by AED1.6bn. UAE’s apex bank said the money supply
aggregate M0 (currency in circulation + currency at banks)
increased by 1.7%, from AED64.2bn at the end of February
2014 to AED65.3bn at the end of March 2014. The money
supply aggregate M1 (currency in circulation plus monetary
deposits, i.e., current accounts and call accounts at banks)
increased by 3.9%, from AED396.6bn at the end of February
2014 to AED412.0bn at the end of March 2014. The money
supply aggregate M2 which comprises of M1 and quasi-
monetary deposits (resident time and savings deposits in
Dirhams, commercial prepayments in Dirhams and resident
deposits in foreign currencies), increased by 4.8%, from
AED1,072.4bn at the end of February 2014 to AED1,124.3bn at
the end of March 2014. (Gulf-Base.com)
 DP World opens upgraded Brisbane facility – DP World
opened its upgraded semi-automated terminal in Brisbane,
Australia. The upgraded facility includes 14 remotely operated
automated stacking cranes, which are set to improve safety and
productivity by taking workers off the quayside and into the
control room. (GulfBase.com)
 Deyaar signs deal with Dubai Maritime City – Deyaar
Development has signed an agreement with Dubai Maritime City
to acquire 70,226.53 square feet of land located at the Marina
District within the city. Marina District has been conceptualized
as a leisure and entertainment hub within the zone, featuring a
wide selection of restaurants, a 4-star hotel, waterfront retail
outlets, and other community amenities. (DFM)
 DSC: Dubai’s consumer goods & services prices up 3.02%
– According to the data from the Dubai Statistics Centre (DSC),
prices of consumer goods and services in Dubai rose by 3.02%
in April 2014 as compared to April 2013. Consumer prices in the
Emirate rose 0.09% in April as compared to March. Prices of
housing & utility were up 4.89% YoY and grew by 0.63% as
compared to March 2014. Prices of education were up 4.87%
YoY and grew by 0.85% compared to the previous month.
(Bloomberg)
 NBAD appoints Swiss Head of Investment Group; gets
banking license in India – The National Bank Of Abu Dhabi’s
(NBAD) wholly-owned Swiss subsidiary, NBAD Private Bank
(Suisse), has appointed Tony Zeiger as the Head of Investment
Group. Zeiger will manage the investment advisory strategy of
the bank and lead the investment team, which provides strategic
and tactical asset allocation advice to NBAD’s private banking
clients in Switzerland. Meanwhile, NBAD has received the
banking license from the Reserve Bank of India to operate in
India. NBAD is the first UAE bank to be granted a banking
license in India since 1980. The bank is planning to set up
operations in India's commercial capital, Mumbai, during
2H2014. (Reuters) (GulfBase.com)
 ADIA appoints global head of research – The Abu Dhabi
Investment Authority (ADIA) has appointed Christof Ruhl as its
first Global Head of Research. Ruhl will join ADIA in July 2014
and will be responsible for establishing and managing an
independent, global research function located within ADIA’s
Evaluation & Follow-up Division. (GulfBase.com)
 Etihad Rail to award contracts for second stage – Etihad Rail
is seeking to award contracts for the second stage of its network
in 2014. The second stage of the $11bn project has provision for
passengers as well as freight transport and will extend the
network by 630 kilometers. It will connect Musaffah in Abu Dhabi
with Khalifa Port and Jebel Ali, and extend up to the Saudi and
Omani borders. (GulfBase.com)
 Kuwait may face budget deficit – Kuwait's Finance Minister,
Anas Al Saleh, has warned that the country will certainly face a
budget deficit since growth in spending has outpaced the rise in
public revenues. The average annual growth in public spending
was up 20.4% during the past decade as against a 16.2%
average rise in revenues, he stated. (GulfBase.com)
 Al Mazaya restructures debt into KD12mn Islamic facility –
Kuwait-based Al Mazaya Holding has restructured part of its
debt into a six-year KD12mn Islamic facility, which is extended
by a bank consortium. The restructuring would allow Al Mazaya
to reduce its short-term loans by 39%, while long-term financing
would increase by 7%. Al Mazaya will pay 60% of the new
Islamic facility on a quarterly basis beginning after a one-year
period, and pay the remaining 40% at maturity. As a result of
this restructuring, 73% of the company’s debt facilities would
now be Islamic. (Reuters)
 CBO sees drop in GDP growth in 2014-15 – The Central Bank
of Oman (CBO) said that Oman's gross domestic product (GDP)
growth may fall to 1.9-2.5% in 2014 and 1.6-2.2% in 2015, in
case of worst scenarios such as a lower global growth and an
adverse oil price movement. According to the CBO, consumer
price inflation in Oman fell to 1.1% in 2013 on an average basis
from 2.9% in 2012. The Sultanate's current account continued to
be in surplus for four successive years from 2010 to 2013.
(GulfBase.com)
 Oman Air to move to HIA – Oman Air will move its Qatar
operations from Doha International Airport (DIA) to the newly
opened Hamad International Airport (HIA). From May 22, 2014,
Oman Air’s services from Muscat to Doha will arrive at HIA.
(Bloomberg)
 AFS appoints Al Waary as new Chairman – Al Waary,
Executive Vice-President & Group CEO of Arab Banking Corp
(ABC) has been appointed as the new Chairman of Arab
Financial Services (AFS). Al Waary is currently serving as the
Deputy Chairman of ABC Jordan and has previously served on
the boards of Banco ABC Brasil and ABC Egypt. Al Waary has
been a board member of AFS since 2000 and Deputy Chairman
since December 2013. (GulfBase.com)

5. Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@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
160.0
170.0
180.0
190.0
200.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
0.4%
(0.4%)
(0.0%)
0.1%
(0.6%)
1.7%
4.2%
(1.6%)
0.0%
1.6%
3.2%
4.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,291.99 (0.2) (0.1) 7.2 DJ Industrial 16,533.06 1.0 0.3 (0.3)
Silver/Ounce 19.41 (0.0) 0.2 (0.3) S&P 500 1,888.03 0.8 0.5 2.1
Crude Oil (Brent)/Barrel (FM
Future)
110.55 0.8 0.7 (0.2) NASDAQ 100 4,131.54 0.8 1.0 (1.1)
Natural Gas (Henry
Hub)/MMBtu
4.57 1.1 3.3 5.3 STOXX 600 340.34 0.6 0.4 3.7
LPG Propane (Arab Gulf)/Ton 103.50 0.7 3.1 (18.2) DAX 9,697.87 0.6 0.7 1.5
LPG Butane (Arab Gulf)/Ton 120.75 0.5 1.7 (11.0) FTSE 100 6,821.04 0.3 (0.5) 1.1
Euro 1.37 (0.1) (0.1) (0.4) CAC 40 4,469.03 0.4 0.3 4.0
Yen 101.37 0.0 (0.1) (3.7) Nikkei 14,042.17 (0.2) (0.4) (13.8)
GBP 1.69 0.4 0.5 2.1 MSCI EM 1,031.66 0.2 (0.0) 2.9
CHF 1.12 (0.1) (0.1) (0.0) SHANGHAI SE Composite 2,024.95 0.8 (0.1) (4.3)
AUD 0.93 0.1 (1.2) 3.7 HANG SENG 22,836.52 0.0 0.5 (2.0)
USD Index 80.10 0.1 0.1 0.1 BSE SENSEX 24,298.02 (0.3) 0.7 14.8
RUB 34.39 (0.4) (1.1) 4.6 Bovespa 52,203.37 (0.3) (3.3) 1.4
BRL 0.45 0.3 0.2 7.0 RTS 1,317.09 1.4 4.4 (8.7)
182.2
152.2
139.3