1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.1% to close at 9,797.9. Gains were led by the Industrials
and Transportation indices, gaining 0.4% and 0.2% respectively. Top gainers
were Gulf International Services and Mannai Corp, rising 4.1% and 2.4%
respectively. Among the top losers, Qatar General Ins. & Rein. Co. fell 1.6%,
while QNB Group declined 1.1%.
GCC Commentary
Saudi Arabia: The TASI index was closed on September 23, 2013.
Dubai: The DFM index gained 1.0% to close at 2,709.4. The Banking index
rose 2.9%, while the Insurance index was up 2.1%. Mashreq Bank surged
14.7%, while Gulf Navigation was up 10.1%.
Abu Dhabi: The ADX benchmark index rose 0.2% to close at 3,816.4. The
Energy index gained 1.0%, while the Banking index was up 0.3%. Eshraq
Properties Co. rose 6.5%, while RAK Properties was up 2.9%.
Kuwait: The KSE index gained 0.7% to close at 7,901.1. The Oil & Gas index
rose 3.7%, while the Telecommunication index was up 2.5%. National
Petroleum Services Co. gained 9.1%, while Noor Financial Investment Co.
was up 8.6%.
Oman: The MSM index rose 0.1% to close at 6,586.7. The Services &
Insurance index was up 0.1%, while the Banking & Investment index gained
marginally. Transgulf Inv. Holding Co. rose 1.9%, while Al Anwar Holding was
up 1.8%.
Bahrain: The BHB index declined 0.3% to close at 1,191.6. The Industrial
index fell 0.9%, while the Commercial Banking index was down 0.6%. Inovest
declined 3.3%, while Ahli United Bank was down 1.4%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Gulf International Services 52.00 4.1 339.0 73.3
Mannai Corp 86.00 2.4 3.2 6.2
Medicare Group 50.50 1.4 462.2 41.5
Gulf Warehousing Co. 41.00 1.2 29.2 22.4
Qatar German Co. for Med. Dev. 15.35 0.7 75.6 3.9
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Industries Qatar 152.00 (0.1) 748.8 7.8
Qatar Gas Transport Co. 19.79 0.2 502.8 29.7
United Development Co. 22.08 0.6 493.1 24.0
Medicare Group 50.50 1.4 462.2 41.5
Barwa Real Estate Co. 25.60 (0.4) 424.2 (6.7)
Source: Bloomberg (* in QR)
Market Indicators 23 Sep 13 22 Sep 13 %Chg.
Value Traded (QR mn) 301.4 157.4 91.5
Exch. Market Cap. (QR mn) 532,559.2 533,091.8 (0.1)
Volume (mn) 5.0 3.1 60.1
Number of Transactions 2,935 2,454 19.6
Companies Traded 39 39 0.0
Market Breadth 20:13 8:27 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,998.93 0.1 (0.7) 23.7 N/A
All Share Index 2,461.51 0.0 (0.7) 22.2 13.0
Banks 2,390.34 (0.3) (0.9) 22.6 12.7
Industrials 3,093.43 0.4 (0.5) 17.8 11.4
Transportation 1,816.95 0.2 (0.7) 35.6 12.5
Real Estate 1,783.35 0.0 (0.8) 10.7 13.4
Insurance 2,246.39 (0.2) (0.3) 14.4 9.3
Telecoms 1,470.00 0.2 (1.5) 38.0 15.5
Consumer 5,906.86 0.0 (0.2) 26.5 24.3
Al Rayan Islamic Index 2,803.31 0.2 (0.3) 12.7 14.4
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Gulf Int. Services Qatar 52.00 4.1 339.0 73.3
Nat. Industries Group Kuwait 0.27 3.8 3,034.0 26.2
National Real Estate Kuwait 0.17 3.7 6,623.8 41.7
Mobile Telecomm. Co. Kuwait 0.73 2.8 4,631.8 (6.4)
Dubai Islamic Bank Dubai 3.81 2.4 36,632.4 89.6
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
IFA Hotels & Resorts Kuwait 0.57 (8.1) 2.3 29.5
Deyaar Development Dubai 0.68 (3.6) 312,962.9 92.0
Kuwait Food Co. Kuwait 2.24 (2.6) 5.0 28.7
Jazeera Airways Kuwait 0.52 (1.9) 896.5 62.5
ALAFCO Kuwait 0.28 (1.8) 261.8 (21.1)
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 General Ins. & Rein. Co. 50.60 (1.6) 5.3 10.0
QNB Group 171.50 (1.1) 222.0 31.0
Qatar National Cement Co. 101.10 (1.0) 1.2 (5.5)
Qatar Industrial Manufacturing Co. 49.55 (0.9) 1.8 (6.7)
Doha Insurance Co. 25.60 (0.8) 1.8 4.3
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 152.00 (0.1) 113,820.8 7.8
QNB Group 171.50 (1.1) 38,118.0 31.0
Medicare Group 50.50 1.4 23,344.0 41.5
Gulf International Services 52.00 4.1 17,500.6 73.3
Al Meera Consumer Goods Co. 132.60 (0.3) 10,858.0 8.3
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* 9,797.88 0.1 (0.7) 1.9 17.2 82.78 146,294.0 12.3 1.7 4.7
Dubai 2,709.36 1.0 1.6 7.4 67.0 406.83 66,598.7 15.8 1.1 3.3
Abu Dhabi 3,816.40 0.2 0.1 2.2 45.1 176.66 109,589.9 10.9 1.4 4.7
Saudi Arabia#
8,024.71 N/A N/A 3.3 18.0 N/A N/A 16.7 2.1 3.6
Kuwait 7,901.14 0.7 0.7 3.5 33.1 210.56 111,950.7 18.5 1.2 3.6
Oman 6,586.73 0.1 (0.3) (1.6) 14.3 8.60 23,106.2 10.9 1.6 3.9
Bahrain 1,191.56 (0.3) (0.6) 0.3 11.8 0.78 21,816.0 8.4 0.8 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) (
#
Closed on Sep. 23, 2013)
9,740
9,760
9,780
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 rose 0.1% to close at 9,797.9. The Industrials and
Transportation indices led the gains. The index rose on the back
of buying support from Qatari shareholders despite selling
pressure from non-Qatari shareholders.
 Gulf International Services and Mannai Corp were the top
gainers, rising 4.1% and 2.4% respectively. Among the top
losers, Qatar General Ins. & Rein. Co. fell 1.6%, while QNB
Group declined 1.1%.
 Volume of shares traded on Monday rose by 60.1% to 5.0mn
from 3.1mn on Sunday. However, as compared to the 30-day
moving average of 8.6mn, volume for the day was 42.0% lower.
Industries Qatar and Qatar Gas Transport Co. were the most
active stocks, contributing 15.1% and 10.1% 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
Al Fujairah National
Insurance Co.
(AFNIC)
Moody's
Abu
Dhabi
IFSR – Baa2 – Stable –
Source: News reports (*IFSR- Insurance Financial Strength Rating)
Earnings Releases
Company Market Currency
Revenue
(mn)
% Change
YoY
Operating Profit
(mn)
% Change
YoY
Net Profit (mn)
% Change
YoY
Majan College (University
College)*
Oman OMR 5.0 26.7% – – 1.3 37.6%
Source: Company data, DFM, ADX, MSM (*Result for the year ended August 31, 2013)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
09/23 US Bloomberg Markit US PMI Preliminary September 52.8 54.0 53.1
09/23 EU Markit PMI Composite September 52.1 51.8 51.5
09/23 EU Markit PMI Manufacturing September 51.1 51.7 51.4
09/23 EU Markit PMI Services September 52.1 51.0 50.7
09/23 France Markit PMI Manufacturing September 49.5 50.1 49.7
09/23 France Markit PMI Services September 50.7 49.6 48.9
09/23 Germany Markit PMI Manufacturing September 51.3 52.2 51.8
09/23 Germany Markit PMI Services September 54.4 53.0 52.8
09/23 China HSBC HSBC/Markit Flash Mfg PMI September 51.2 50.9 50.1
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QP appoints QNB Group, Deutsche Bank to arrange
QR3.2bn IPO for its unit – Qatar Petroleum (QP) has
appointed QNB Group and Deutsche Bank to help arrange for
an IPO of shares in one of its units. The issue could be worth
around QR3.2bn ($880mn). Mesaieed Petrochemical Holding
Company may issue its IPO on the Qatar stock exchange within
2013, subject to necessary approvals. QNB Group has been
appointed to manage this offer, while Deutsche Bank will act as
a financial adviser. The sale of shares will be restricted to Qatari
nationals, although foreign investors will be allowed to buy a
certain percentage of the firm once it has been listed. (Reuters,
Gulf-Times.com)
 Qatar banks well prepared to deal with Basel III norms –
Ratings agency S&P said Qatar’s banking sector will not have
any major capitalization issues to deal with when the new Basel
III capital norms are introduced. Last month, the Qatar Central
Bank sent a draft circular on new Basel III capital rules to all
Qatari banks. Building on the Basel I and Basel II norms, the
Basel III norms seek to improve the sector’s ability to deal with
financial and economic stress, risk management as well as
strengthen banking transparency. (Gulf-Times.com)
 Retirement age of Qataris may be raised – According to
sources, a new law in the making aims to fix the retirement age
for Qatari men at 67 and allow Qatari women to work until 62.
The current retirement age for Qataris is 60 and the law applies
to only government sector employees. (Peninsula Qatar)
 Credit Suisse, Qatar venture to target derivatives, equities –
Aventicum Capital Management, the JV of Credit Suisse Group
and Qatar Holding, is planning to target assets such as equities
and derivatives in its second investment fund to be launched by
the end of 2013. Aventicum’s CEO Hashem Montasser said the
company will invest its second fund in the same region as well
as Turkey and other frontier markets. He also said that the
venture is hoping to have $250-300mn worth of assets under
management by December 2013. (Gulf-Times.com)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 41.25% 37.59% 11,052,747.80
Non-Qatari 58.75% 62.42% (11,052,747.80)

3. Page 3 of 5
 QA signs frequent flyer deal with American Airlines – Qatar
Airways (QA) has entered into a reciprocal frequent flyer
program agreement with American Airlines (AA). Under this
agreement, the members of American Airlines’ AAdvantage
Program and QA’s Privilege Club members can earn and
redeem miles on any flights operated by these airlines.
(Bloomberg)
 Qatar Foundation appoints new President, CEO – Qatar
Foundation for Education, Science & Community Development’s
Chairman HH Sheikha Moza bint Nasser announced the
appointment of Saad al-Muhannadi as its new President and
Rashid al-Naimi as the CEO of Qatar Foundation Investments.
(Gulf-Times.com)
 Nakilat to disclose its 3Q2013 results on October 6 – Nakilat
(QGTS) will disclose the financial results for 3Q2013 on October
6, 2013. (QE)
 Doha Bank to disclose its 3Q2013 financial results on
October 21 – Doha Bank (DHBK) will disclose its 3Q2013
financial results on October 21, 2013. (QE)
International
 ECB ready to offer more long-term loans – The European
Central Bank’s (ECB) President Mario Draghi said he is ready to
deploy another long-term refinancing operation to provide funds
to the European banking system if needed. He said the ECB is
ready to use any instrument to maintain the short-term money
markets at the level warranted by the central bank’s assessment
of inflation in the medium term. (Bloomberg)
 BoE policymaker: Growth uncertainty backs case for
linking BoE guidance to jobs – A Bank of England
policymaker Ben Broadbent has defended the central bank's
decision to tie interest rates to the labor market, saying the
outlook for economic growth and productivity are particularly
uncertain despite a recent pick-up in Britain's economic
recovery. He said the surprisingly strong acceleration in growth
may moderate down soon. He said data so far for 3Q2013 has
been strong and recent surveys suggested the UK private sector
was growing at an annualized rate of about 5%. However,
Broadbent warned that this might prove to be an over-estimate
and the recovery might not keep up its current pace. (Reuters)
 IATA cuts 2013 airline industry profit forecast – The
International Air Transport Association (IATA) has cut its
forecast for global industry profit in 2013 by 8% to $11.7bn,
citing weaker growth in parts of Asia and a worsening slowdown
in freight demand. The IATA said the $1bn downgrade from its
previous forecast of $12.7bn in June also reflected a spike in oil
prices due to the Syrian crisis. For 2014, IATA predicted a
rebound in profits to $16.4bn on hopes of rising business and
consumer confidence, and a respite in oil prices. IATA raised its
forecasts for North American and European airlines slightly as
US carriers consolidated and cut capacity, while the European
financial crisis showed signs of easing. For Asia, IATA chopped
a third off its profit forecast to $3.1bn. IATA expects a growth of
just 0.9% in air cargo traffic as compared to its previous forecast
of 1.5%, and well below the 5% global passenger growth
predicted for this year. (Reuters)
Regional
 Metro projects to boost GCC trade, reduce road congestion
– According to a report by MEED, the recently awarded multi-
billion dollar contracts for the Gulf's biggest rail projects signal a
turn of fortune for the planned GCC Rail Network that hopes to
address mounting urban mobility issues in the region. The Qatar
Railways Company awarded design & build contracts worth
$8.2bn for phase one of its Doha Metro project, while Saudi
Arabia's Arriyadh Development Authority awarded contracts
valued at around $22bn for the delivery of the Riyadh Metro.
(Qatar Tribune)
 Middle East carriers seen posting $1.6bn gain in 2013 –
According to a report by the International Air Transport
Association (IATA), Middle East carriers are expected to post
profits worth $1.6bn in 2013, which is marginally ahead of the
$1.5bn previously forecast. Meanwhile, the global aviation
industry is expected to earn a net profit of $11.7bn on revenues
of $708bn. IATA said the impact of the Syrian crisis has been
limited, and passenger demand is expected to grow by 10.5% in
the Middle East, the strongest among all regions. However, this
will be slightly outstripped by 11.3% capacity growth. (Gulf-
Times.com)
 HSBC appoints new equity head for MENA – HSBC Holdings
has appointed Samer Deghaili as the Head of its Equity Capital
Markets business in the MENA region. Deghaili will replace
Michael Bevan, who will lead the coverage of Asian sovereign
wealth funds in HSBC's Hong Kong headquarters. (Reuters)
 Saudi consumer loans rise by 22% to SR321bn in 2Q2013 –
According to a report released by the Saudi Arabian Monetary
Agency (SAMA), the volume of consumer loans given by Saudi
local banks have increased by 22% YoY to SR321bn in 2Q2013.
On the other hand, SAMA’s assets continued their growth and
reached SR2.59tn by the end of 2Q2013 as compared to
SR2.26tn in 2Q2012. The consolidated financial position of all
commercial banks in the Kingdom increased to SR1.8tn in
2Q2013 from SR1.61tn in 2Q2012. Customer deposits at Saudi
banks also rose to touch SR1.32tn over SR1.16tn in 2Q2012.
(GulfBase.com)
 Saudi to complete Jazan industrial project in 4 years –
Saudi Arabia's Minister of Petroleum & Mineral Resources Ali Al
Naimi said that the industrial project at Jazan, which includes a
refinery with a capacity of up to 400,000 bpd, will be completed
within four years. Al Naimi also said the Saudi Arabian Oil
Company (Saudi Aramco) had planned to begin operations at
this refinery and its oil tanker terminal on the Red Sea coast by
late 2016, but the project has been delayed due to work on other
infrastructure falling behind schedule. Jazan will be the last of
the trio of new 400,000 bpd refineries to be opened in Saudi
Arabia between 2013 and 2018. The first one at Jubail on the
Gulf coast is expected to export its first oil products cargo this
year. (GulfBase.com)
 Kingdom plans to construct 16 nuclear reactors by 2030 –
The King Abdullah City for Atomic & Renewable Energy (KA-
CARE) President Hashim Yamani said Saudi Arabia is planning
to construct 16 nuclear reactors by 2030 with a total capacity of
17 gigawatts at around $100bn. He said the Kingdom hopes to
receive up to 50% of its power from nuclear and renewable
energy sources over the next 20 years. These plants will take 9-
11 years to complete and the first reactor will be operational by
2020. (GulfBase.com)
 Jeddah begins public projects in Al Kamil governorate –
The Jeddah municipality has initiated several new projects
including public parks and children’s playgrounds across the
villages in the Al Kamil governorate. Tenders for more than 25
projects until 2015 have been announced by Jeddah’s mayor
Hani Abu Ras, which include service projects in Jeddah, Al
Qunfudha Al Laith and Al Kamil. (GulfBase.com)
 RAK Airways starts flights to Riyadh – UAE-based RAK
Airways will introduce three weekly flights to Riyadh on
September 25, 2013 from the Ras Al Khaimah International

4. Page 4 of 5
Airport. Further, the airline has planned to increase its frequency
to four flights a week for the winter schedule, which starts from
October 29. (GulfBase.com)
 DME sets record by trading 5mn contracts – The Dubai
Mercantile Exchange (DME) has set a new record by trading
5mn contracts, which are equivalent to 5bn oil barrels on the
exchange. This milestone has come just seven months after
DME had passed the 4bn barrels mark. DME’s CEO Christopher
Fix said the exchange has experienced a sustained increase in
traded volumes over the past 12 months. (GulfBase.com)
 Abraaj disinvests from Philippine medical center – The
Abraaj Group has announced its full disinvestment from
Philippines-based Daniel O. Mercado Medical Center (DMMC).
Abraaj’s exit was executed through a buy-back arrangement
with the Mercado family. In September 2010, Abraaj had
invested in DMMC through one of its funds as the only
institutional investor along with the Mercado family.
(GulfBase.com)
 DC Aviation Al Futtaim completes hangar facility in DWC –
The DC Aviation Al Futtaim (DCAF), a joint venture between
Dubai-based Al Futtaim Group and Germany's DC Aviation, has
completed its purpose-built integrated hangar facility with lounge
and office areas at Dubai World Central's (DWC) Aviation
District. DCAF will provide aircraft management, fixed base
operations, aircraft maintenance services and business jet
chartering to local and international clients. This facility includes
three large passenger lounges that offer five-star level comfort &
privacy, including shower areas, conference room and ample
covered parking. (AME Info)
 DSE-HLS JV gets AED403mn project to provide MEP
solutions at the Al Habtoor City in Dubai – A JV of Drake &
Scull International’s (DSI) division Drake & Scull Engineering
(DSE) and Habtoor Leighton Specon (HLS) has been awarded a
AED403mn project to provide mechanical, electrical, plumbing
(MEP) solutions for the Al Habtoor City project, in Dubai, UAE.
HLS’s share is 51% in this JV. Under the agreement, the DSE-
HLS JV will be responsible for all MEP works for what will
become the largest integrated hotel complex in the Middle East.
(DFM)
 Intercontinental signs deal with TAJ RP to open Crowne
Plaza Dubai Marina hotel – The Intercontinental Hotels Group
(Intercontinental) has entered into an agreement with TAJ RP
International Limited to launch its Crowne Plaza Dubai Marina
hotel project in 2016. This hotel will offer 280 rooms, a plethora
of business meeting & event facilities, a boardroom and three
restaurants. This hotel will be the fourth Crowne Plaza branded
hotel in Dubai and ninth one in the UAE. (Bloomberg)
 Etihad plans to increase seats on Mumbai, Delhi routes –
Etihad Airways is planning to more than triple the number of
seats it now offers on the routes from Abu Dhabi to Mumbai and
New Delhi from November 1, 2013. The airline is also planning
to upgrade its daily Abu Dhabi–Chennai flights from 136 seats
on Airbus A320s to new Airbus A321s with a seating capacity of
174 passengers. (AME Info)
 Kuwait sends $1bn oil products to Egypt – The Egyptian
General Petroleum Corporation’s Chairman Tarek al Molla said
that Kuwait has sent oil products worth $1bn to Egypt, as part of
a $4bn package pledged by Kuwait. This package includes fuel
shipments of 4mn barrels of crude oil and nine shipments of
diesel. However, al Molla said that Kuwait has deducted
$250mn from the package to cover for the overdue payments of
previous diesel shipments. (Bloomberg)
 Kuwait appoints HSBC to consult on KD926.3mn solar plant
– The Kuwaiti government has appointed HSBC to consult on
the first solar power plant worth KD926.3mn, which is being
constructed at Al Abdaliya. This 280MW plant is expected to go
online by the end of 2013. This contract marks the first
involvement of a private firm in a government development
strategy. The technical team in the Kuwaiti Ministry of Finance is
also planning to float a venture for tendering public-private
partnership program in cooperation with the Electricity & Water
Ministry. (Bloomberg)
 CBO issues CDs worth OMR484mn – The Central Bank of
Oman (CBO) has issued a tender to allot Certificates of Deposit
worth OMR484mn. The average interest rate of these
certificates is 0.13%, while the maximum accepted interest rate
is also 0.13%. The tenor of these certificates is 28 days,
maturing on October 16, 2013. (GulfBase.com)
 Port Sultan Qaboos reports 5% rise in cargo volumes in
July 2013 – According to the National Centre for Statistics &
Information (NCSI), the quantity of cargo loaded and unloaded
at Port Sultan Qaboos in July 2013 increased 5% YoY to
3,149,000 tons. The quantity of unloaded cargo rose 2.8% YoY
to 2,575,000 tons, while the loaded cargo quantity (exports)
increased 15.9% YoY to 574,000 tons. Further, the report
indicated that the quantity of total cargo at Salalah Port in July
2013 rose 12% YoY to 4,684,000 tons. The total unloaded
goods increased 17.3% YoY to 4,076,000 tons. (GulfBase.com)
 Bank Nizwa to open five more branches within 2013 –
Oman-based Bank Nizwa is set to open five more branches by
the end of 2013, bringing its total to eight fully-serviced
dedicated Islamic branches. The bank is planning to open
another five branches by the end of 2014. This expansion is in
response to the ever growing need for Islamic banking services
across Oman. (GulfBase.com)
 Financial close for $300mn Oman water project –
International law firm Trowers & Hamlins, which acted as
advisor for the Oman's largest independent water project (IWP)
being funded by Japanese financial institutions, said the IWP
has reached its financial close. The Ghubrah IWP project,
valued at $300mn, comprises a desalination plant with a daily
treatment capacity of 190,000 cubic meters. It will use reverse
osmosis technology to supply fresh water equivalent to the daily
amount consumed by approximately 800,000 people. The plant
will be run by Muscat City Desalination Company under a 20-
year water purchase agreement with Oman Power & Water
Procurement Company, and commercial operation is scheduled
to commence on a fast-track basis in October, 2014.
(GulfBase.com)
 CBB’s Sukuk Al-Salam securities oversubscribed by 100%
– The Central Bank of Bahrain’s (CBB) monthly issue of Sukuk
Al-Salam Islamic securities worth BHD36bn has been
oversubscribed by 100%. The issue carries a maturity of 91
days, which will mature on December 25, 2013. The expected
return on the issue is 0.85%, as compared to 0.72% for the
previous issue. (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 (* Closed on Sep. 23, 2013)
Source: Bloomberg Source: Bloomberg (*Closed on September 23, 2013)
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
0.0%
0.1%
0.7%
(0.3%)
0.1%
0.2%
1.0%
(0.6%)
0.0%
0.6%
1.1%
1.7%
SaudiArabia*
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,322.74 (0.2) (0.2) (21.0) DJ Industrial 15,401.38 (0.3) (0.3) 17.5
Silver/Ounce 21.66 (0.5) (0.5) (28.6) S&P 500 1,701.84 (0.5) (0.5) 19.3
Crude Oil (Brent)/Barrel (FM
Future)
108.16 (1.0) (1.0) (2.7) NASDAQ 100 3,765.29 (0.3) (0.3) 24.7
Natural Gas (Henry
Hub)/MMBtu
3.64 (1.1) (1.1) 6.3 STOXX 600 312.62 (0.5) (0.5) 11.8
North American Spot LPG
Propane Price
107.50 (2.2) (2.2) 20.1 DAX 8,635.29 (0.5) (0.5) 13.4
North American Spot LPG
Normal Butane Price
133.25 0.1 0.1 (23.0) FTSE 100 6,557.37 (0.6) (0.6) 11.2
Euro 1.35 (0.2) (0.2) 2.3 CAC 40 4,172.08 (0.8) (0.8) 14.6
Yen 98.85 (0.5) (0.5) 13.9 Nikkei* 14,742.42 0.0 0.0 41.8
GBP 1.60 0.2 0.2 (1.3) MSCI EM 1,016.30 0.3 0.3 (3.7)
CHF 1.10 (0.1) (0.1) 0.5 SHANGHAI SE Composite 2,221.04 1.3 1.3 (2.1)
AUD 0.94 0.4 0.4 (9.3) HANG SENG 23,371.54 (0.6) (0.6) 3.2
USD Index 80.45 0.0 0.0 0.9 BSE SENSEX 19,900.96 (1.8) (1.8) 2.4
RUB 31.79 (0.1) (0.1) 4.1 Bovespa 54,602.38 0.9 0.9 (10.4)
BRL 0.45 0.7 0.7 (6.7) RTS 1,451.43 (0.8) (0.8) (4.9)
140.8
126.4
114.5