DAILY MARKETS BRIEF I LOCAL MARKETS

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1 DAILY MARKETS BRIEF I LOCAL MARKETS Last Daily % YTD % Dividend % MSCI Lebanon % % Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % % 11.23% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 9.95% BEMO Listed % 20.77% BLOM Listed % % 12.12% Trading RYMCO % 0.92% Industrial BEIRUT STOCK EXCHANGE Holcim % 10.93% Ciments Blancs % 13.33% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Caretaker Finance Minister Ali Hasan Khalil assured Wednesday the state is committed to paying all salaries and debts due to government employees. The minister made the remarks after briefing President Michel Aoun on the country s financial situation. The Abu Dhabi Executive Council has approved a resolution to exempt all new economic licenses issued in the emirate from all local fees for two years, effective from the date of issue in a bid boost businesses. The council has also approved another resolution exempting and reducing the fees of 98 basic services charged by the Abu Dhabi municipalities in the private sector. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain (BB) % -0.51% Kuwait (KWSE) % 6.15% Muscat (MSM30 Index) % % Qatar (QE Index) % 21.19% KSA (TADAWUL) % 5.62% Dubai (DFM) % % Abu Dhabi (ADX) % 11.65% LOCAL/GCC FOREIGN EXCHANGE Cross Last Price Lebanese Pound Spot USD/LBP Bahraini Dinar Spot USD/BHD Kuwaiti Dinar Spot USD/KWD Omani Rial Spot USD/OMR Qatari Riyal Spot USD/QAR Saudi Riyal Spot USD/SAR UAE Dirham Spot USD/AED Source: Daily Star, Gulf Base MSCI GCC INDEX - 30 DAYS CHART GCC INDICES DAILY PERFORMANCE

2 DAILY MARKETS BRIEF I EQUITY MARKETS UNITED STATES EQUITY MARKET INDICES Major Indices Last Price Daily % YTD % 10D Vol DowJones % 2.62% 4.39% S&P % 2.62% 3.63% Nasdaq % 5.62% 4.27% Sectors Indices Discretionary % 8.41% 5.75% Staples % -2.73% 1.33% Energy % -9.12% 1.58% Financials % -3.48% 0.54% Healthcare % 13.12% 3.54% Industrials % -5.65% 4.70% IT % 7.46% 4.76% Materials % % 1.76% Com. Services % % 2.88% Utilities % 3.55% -1.40% Real Estate % 1.37% 0.87% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE Commentary by Federal Reserve Chairman Powell that benchmark U.S. interest rates were just below neutral sparked a sharp rally on Wall Street, easing investor worries about the pace of rate hikes by the U.S. central bank next year. European shares ended unchanged, failing to sustain early gains. A conciliatory tone from Italy s finance minister offered support, after he pledged to consider financial market uncertainty and the concerns of EU partners. Automotive stocks remained under pressure. Stocks rose further on the Tokyo Stock Exchange, tracking an overnight advance in U.S. equities. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % -4.87% 1.87% Developed % -3.50% 2.09% Emerging % % -0.37% Frontier % % -1.42% Europe % -7.93% -0.94% Latin America % -8.63% 2.04% Asia Pacific % % -0.78% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % -9.58% -0.12% FTSE % -8.89% 0.01% CAC % -6.20% -0.35% DAX % % -0.18% Swiss SMI % -5.19% -0.62% Nikkei % -2.21% 1.17% CSI % % 0.36% DEVELOPED VS EMERGING - 30 DAYS CHART EMERGING DEVELOPED INTERNATIONAL EQUITY - 30 DAYS CHART FTSE 100 CAC 40 DAX NIKKEI 225 Source: Bloomberg, Financial Times, Reuters

3 DAILY MARKETS BRIEF I FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET Last Price Daily % 10D Vol 25RR Major USD Cross Rate USD Index % -0.90% - EUR/USD % -1.13% USD/JPY % -1.23% GBP/USD % -0.39% USD/CAD % -0.19% AUD/USD % -0.79% NZD/USD % -0.70% USD/CHF % -0.96% USD/NOK % -0.66% USD/SEK % -0.76% USD/CNY % 0.38% Major EUR Cross Rate EUR/GBP % -0.39% EUR/CHF % -0.13% EUR/JPY % 0.11% DISTANCE FROM 52 WEEKS LOW/HIGH The dollar retreated with potentially fewer rate increases on the horizon following commentary from Federal Reserve Chairman Powell. The euro ended higher driven by a weakening of the dollar. The British pound rose after the Bank of England said the British economy could shrink by as much as 8 percent in about a year after a no-deal Brexit. Focus remains whether Prime Minister May will fail to win approval for her Brexit deal from a divided parliament. The yen fell as a recovery in Japanese equities dampened demand for safe-havens. EUR/USD 30 DAYS SUPPORT & RESISTANCE Source: Bloomberg, Financial Times, Reuters GBP/USD 30 DAYS SUPPORT & RESISTANCE USD/JPY 30 DAYS SUPPORT & RESISTANCE USD/CAD 30 DAYS SUPPORT & RESISTANCE

4 DAILY MARKETS BRIEF I FIXED INCOME GLOBAL BOND INDICES Yield Yield (in Bps) Benchmark Indices US 10 Years Benchmark EU 10 Years Benchmark UK 10 Years Benchmark Sovereign Bonds US Treasury Bond Eurozone Sovereign Bond Japan Sovereign Bond US TREASURIES YIELD CURVE EUR GENERIC YIELD CURVE Corporate Bonds US Corporate TR US High Yield Bond TR EUR Aggregate Corporate TR EUR High Yield TR USD Emerging Market IG & HY Most yields along the U.S. Treasury yield curve fell after U.S. Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism, saying that the central bank s policy rate is now just below estimates of a level that neither brakes nor boosts a healthy U.S. economy. Core Eurozone bond yields held close to recent lows as investors stuck to safe-haven assets even though hopes for a cooling of the China-U.S. trade dispute improved sentiment towards equities. Focus remains on German Consumer Price Index figures scheduled for release later today. OVERNIGHT RATES - SWAPS Yield Yield (in Bps) 3M USD LIBOR M EUR EURIBOR M GBP LIBOR Y USD SWAP Y USD SWAP Y USD SWAP Y USD SWAP Spread (in FIXED INCOME SPREADS r Spread Bps) USD 3M vs 10Y Spread Spread Spread (in Bps) USD 2Y 3M vs vs 10Y 10Y Spread USD USD IG 2Y Spread vs 10Y Spread (0.0100) USD IG Spread USD HY Spread 4.3 (0.0800) USD HY Spread 4.21 (0.0600) EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0223) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread (0.0355) EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread (1.100) Source: Bloomberg, Financial Times, Reuters, Econotimes USD CORPORATES - 30 DAYS SPREAD EU VS US - 30 DAYS SPREAD

5 DAILY MARKETS BRIEF I COMMODITIES GLOBAL COMMODITIES MARKET Last Price Daily % Commodity Index % Energy WTI Crude Future % Brent Crude Future % NYMEX Gasoline % NYMEX Heat Oil % ICE Gasoil % NYMEX Natural Gas % COMMODITY INDEX SUPPORT & RESISTANCE WTI OIL 30 DAYS SUPPORT & RESISTANCE Precious Metals Gold Spot $/Oz % Silver Spot $/Oz % Platinum Spot $/Oz % Palladium Spot $/Oz % Gold Future % Silver Future % Platinum Future % Palladium Future % Base Metals LME Aluminum % LME Copper % LME Zinc % LME Nickel % LME Lead % LME Tin % Agricultural Corn CBT % Wheat CBT % Soybeans CBT % Bean Meal CBT % Rough Rice CBT % MDE Palm Oil % Soybean CBT % Coffee ICE % Sugar #11 ICE % Cotton #2 ICE % Cocoa ICE % Ethanol CME % Lumber CME % Orange Juice ICE % Live Cattle CME % Feeder Cattle CME % Lean Hogs CME % Oil prices dipped as the U.S. Energy Information Administration recorded a continuous rise in U.S. crude inventories, exceeding market expectations. Stockpiles witnessed a 10th straight week of increases, up 3.6 million barrels in the week ending on Nov. 23. Gold turned higher as the dollar dipped after dovish remarks from the Fed s Powell. Source: Bloomberg GOLD 30 DAYS SUPPORT & RESISTANCE SILVER 30 DAYS SUPPORT & RESISTANCE

6 DAILY MARKETS BRIEF I COMPANY NEWS TOP 10 WINNERS Ticker Last Price Daily % S&P 500 Stocks SALESFORCE.COM CRM ADOBE INC ADBE ABIOMED INC ABMD ALIGN TECHNOLOGY ALGN FREEPORT-MCMORAN FCX HUMANA INC HUM AMAZON.COM INC AMZN NETFLIX INC NFLX ANSYS INC ANSS UNDER ARMO-C UA TOP 10 LOSERS Ticker Last Price Daily % S&P 500 Stocks TIFFANY & CO TIF JM SMUCKER CO SJM CME GROUP INC CME SCANA CORP SCG TYSON FOODS-A TSN INCYTE CORP INCY CBOE GLOBAL MARK CBOE CF INDUSTRIES HO CF GENERAL MILLS IN GIS INTL PAPER CO IP S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY BMW said it can force its hybrid cars switch to an electric-only mode in heavily polluted inner-city areas, helping its vehicles compete with pure battery-driven rivals as a raft of cities seek to create emissions-free zones. Anglo-Dutch consumer goods company Unilever said its CEO Paul Polman was retiring and would be replaced by Alan Jope, head of its beauty unit, from January 1. The U.S. Army said on Wednesday that it has awarded Microsoft Corp. a $479.2 million contract to supply prototypes for the Army s augmented reality systems helping soldiers in training and combat missions. Tiffany & Co. reported quarterly sales that missed estimates as Chinese tourists spent less than expected at the jeweler s stores in the United States and Hong Kong, a shortfall that sent the company s shares down as much 13 percent. Saudi Arabia will buy Lockheed Martin s $15 billion missile defense system, a U.S. Department of State spokesman said on Wednesday, after aggressive lobbying by the administration to close the deal. AXA, Europe s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. Daimler will start building electric cars in China next year as a way to meet Beijing s stringent anti -pollution quotas for carmakers, even as demand for conventional models like the Mercedes-Benz Maybach remains strong. Sources: Seeking Alpha, Financial Times, Reuters, CNBC

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Eurozone Consumer Confidence :00 France GDP QoQ 0.40% % 9:45 France GDP YoY 1.50% % 9:45 Germany Unemployment Change (000's) -10k k 10:55 Germany CPI YoY 2.40% % 15:00 Germany CPI MoM 0.20% % 15:00 Germany CPI EU Harmonized YoY 2.30% % 15:00 Germany CPI EU Harmonized MoM 0.20% % 15:00 Germany Unemployment Claims Rate SA 5.10% % 10:55 Japan Coking Coal Imports MT -- 5,456,081 5,79,888 2:30 Japan Coal and Briquettes Imports MT -- 15,427,205 15,525,056 2:30 Japan Retail Trade YoY 2.70% 3.50% 2.10% 1:50 Japan Retail Sales MoM 0.40% 1.20% -0.20% 1:50 United Kingdom Mortgage Approvals 64.6k k 11:30 United Kingdom Money Supply M4 MoM % 11:30 United States Initial Jobless Claims 220k k 15:30 United States Personal Income 0.40% % 15:30 United States Personal Spending 0.40% % 15:30 United States Pending Home Sales MoM 0.50% % 17:00 United States Continuing Claims 1663k k 15:30 United States PCE Core MoM 0.20% % 15:30 United States PCE Core YoY 1.90% % 15:30 Source: Bloomberg Banque BEMO sal Head Office - Private and Corporate Banking 96 Pasteur Building, Pasteur Street, Medawar Area, P.O. Box: , Beirut - Lebanon Tel: Fax: Wealth & Investment Management research@bemobank.com Beirut Central District Riad El Solh Square, Esseily Building Bloc A, 7th Floor Beirut - Lebanon Tel: Fax: Disclaimer: This report is published for information purposes only. The information herein has been compiled from, or based upon sources considered to be reliable (Bloomberg, SeekingAlpha, DailyStar ), but we do not guarantee or assume responsibility for its completeness and accuracy. This document should not be construed as a solicitation to take part in any investment, or as constituting any representation or warranty on our part. This report is not to be relied upon in substitution for the exercise of specialists. We may not have taken any steps to ensure that the securities referred to in this report are suitable for any particular investor. The investments and services contained or referred to herein are not purported to be exhaustive, any person considering an investment should seek specialist advice on the suitability of an investment. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation. Clients understand that it is their responsibility to seek legal and/or tax advice regarding the legal and tax consequences of their investment transactions. The consequences of any action taken on the basis of information contained herein are solely the responsibility of the recipient. Investment instruments are subject to risk, including possible loss of principal amount invested. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments. Some investments mentioned in this report may have a high level of volatility. High volatility investments may experience sudden and large falls in their value causing losses when that investment is realized. Some investments may not be readily realizable and it may be difficult to sell or realize those investments, similarly it may prove difficult to obtain reliable information about the value, or risks, to which such an investment is exposed. This report may provide the addresses of websites or references. We have not reviewed any such site and takes no responsibility for the content contained therein. Such address or reference is provided solely for convenience and information. Accessing such website through this report shall be at the recipients own risk.