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 % % 11.53% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 10.16% BEMO Listed % 20.77% BLOM Listed % % 12.14% Trading RYMCO % 0.92% Industrial BEIRUT STOCK EXCHANGE Holcim % 10.30% Ciments Blancs % 13.33% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Three of Dubai s main non-oil sectors travel and tourism, wholesale and retail, and construction saw improvements in November, as per Emirates NBD s Dubai Economy Tracker Index. Emirates NBD cited faster expansions in business activity, and a stable trend in new employment as positive factors. Saudi Arabia has launched the first phase of the King Salman Energy Park yesterday. The park is spread over 50 square kilometers and is one of the first economic diversification initiatives. The project is estimated to contribute more than $6 billion to the kingdom s GDP annually. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain (BB) % -1.04% Kuwait (KWSE) % 6.92% Muscat (MSM30 Index) % % Qatar (QE Index) % 23.56% KSA (TADAWUL) % 8.48% Dubai (DFM) % % Abu Dhabi (ADX) % 9.17% 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 % -1.41% -0.19% S&P % -1.38% -0.13% Nasdaq % 1.86% 0.03% Sectors Indices Discretionary % 4.28% -0.04% Staples % -4.07% -0.14% Energy % % 0.08% Financials % % -0.44% Healthcare % 10.07% -0.55% Industrials % % 0.02% IT % 3.67% -0.03% Materials % % -0.45% Com. Services % % -0.20% Utilities % 7.03% -0.40% Real Estate % 2.42% -0.07% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. equities ended flat yesterday despite an initial rise, led by technology companies on signs that China and the U.S. were moving towards resolving their trade dispute. Commentary from President Trump stating that he would be proud to shutdown the government if Congress does not provide the funds to build a wall at the Mexican border soured the mood. European equities were higher, following a report that China would be moving to cut import tariffs on American cars. Automakers were among the best performers. Japanese stocks were lower as investors remained wary of external uncertainties. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % -8.37% -2.53% Developed % -7.07% -2.73% Emerging % % -1.28% Frontier % % 2.08% Europe % % 2.74% Latin America % % -1.96% Asia Pacific % % -0.76% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % % 1.94% FTSE % % 1.92% CAC % -9.53% 2.14% DAX % % 2.69% Swiss SMI % -7.11% 3.01% Nikkei % -5.11% -1.58% CSI % % -1.05% 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 % -0.08% - EUR/USD % -0.24% USD/JPY % -0.04% GBP/USD % 0.27% USD/CAD % 0.08% AUD/USD % -0.12% NZD/USD % -0.09% USD/CHF % -0.22% USD/NOK % -0.14% USD/SEK % -0.14% USD/CNY % -0.01% Major EUR Cross Rate EUR/GBP % -0.10% EUR/CHF % -1.14% EUR/JPY % 0.07% DISTANCE FROM 52 WEEKS LOW/HIGH The dollar was slightly higher against a basked of currencies as China and the U.S. laid out a plan on the next stage of their trade talks. The dollar was further supported by the release of producer price index figures revealing an unexpected rise in November. The British pound fell to a new 20-month low of $1.25 after Sky news reported that lawmakers have the majority needed to trigger a vote of no-confidence in Prime Minister Theresa May s leadership. The safe-haven Japanese yen was lower in the wake of positive trade developments. 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 U.S. treasury yields rose yesterday, as China and the U.S. discussed a road map for the next stage of their trade talks during a telephone call between Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin. U.K. gilts fell after Sky news reported that lawmakers could be triggering a challenge to Prime Minister May s leadership, sending investors looking for safer assets. Economic data revealing rises in wage inflation and employment change figures failed to halt to fall in yields. French bond yields rose to their highest spread in 20 months over Germany s yields. 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 EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread 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 extended gains on Tuesday, as Russia plans to cut its oil production next month between 50,000 and 60,000 barrels per day and Libya's national oil company declared forced shutdown due to force majeure. Gold was modestly lower yesterday as the U.S. dollar rose. 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 BROADCOM INC AVGO TWITTER INC TWTR CAMPBELL SOUP CO CPB PERKINELMER INC PKI CHURCH & DWIGHT CHD NRG ENERGY NRG WELLCARE HEALTH WCG LAMB WESTON LW CLOROX CO CLX NEWELL BRANDS IN NWL TOP 10 LOSERS Ticker Last Price Daily % S&P 500 Stocks FLUOR CORP FLR NATL OILWELL VAR NOV DARDEN RESTAURAN DRI EVEREST RE GROUP RE INVESCO LTD IVZ CBS CORP-B CBS MICHAEL KORS HOL KORS FORTUNE BRANDS H FBHS TAPESTRY INC TPR GENERAL ELECTRIC GE S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Rolls-Royce expects its 2018 group profit and free cash flow to be in the upper half of its guidance range, the British engineering company said this morning, shrugging off problems with some of its aircraft engines. China-based music streaming company Tencent Music Entertainment Group said it raised close to $1.1 billion in its U.S. initial public offering after pricing its shares at the bottom of its targeted range. South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. Zara owner Inditex this morning reported net profit of $2.7 billion for the first nine months of its financial year, up 4 percent on the year, and maintained guidance for the second half of the year. SoftBank Group Corp is planning to sell its stake in Nvidia Corp early next year as the U.S. chipmaker s shares slide, Bloomberg reported. The Japanese company could make about $3 billion in profit from the transaction, the report said. Google has no plans to relaunch a search engine in China though it is continuing to study the idea, Chief Executive Sundar Pichai told a U.S. congressional panel amid increased scrutiny of big tech firms. McDonald s Corp said it plans to reduce the use of antibiotics in its global beef supply. Sources: Seeking Alpha, Financial Times, Reuters, CNBC

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Canada Teranet/National Bank HPI MoM % 15:30 Canada Teranet/National Bank HPI YoY % 15:30 Eurozone Industrial Production SA MoM 0.10% % 12:00 Eurozone Industrial Production WDA YoY 0.70% % 12:00 Italy Unemployment Rate Quarterly 10.30% % 11:00 Japan Core Machine Orders MoM 9.70% 7.60% % 1:50 Japan PPI YoY 2.40% 2.30% 2.90% 1:50 Japan Tertiary Industry Index MoM 0.80% 1.90% -1.10% 6:30 Japan Core Machine Orders YoY 5.00% 4.50% -7.00% 1:50 Japan PPI MoM -0.10% -0.30% 0.30% 1:50 Russia GDP YoY 1.30% % Russia Trade Balance 18.0b b 15:00 Russia Exports 39.0b b 15:00 United States CPI MoM 0.00% % 15:30 United States DOE U.S. Crude Oil Inventories -3500k k 17:30 United States MBA Mortgage Applications % 14:00 United States CPI Ex Food and Energy MoM 0.20% % 15:30 United States Monthly Budget Statement -$199.0b -- -$100.5b 21:00 United States CPI YoY 2.20% % 15:30 United States CPI Ex Food and Energy YoY 2.20% % 15:30 United States CPI Core Index SA :30 United States CPI Index NSA :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.