DAILY MARKETS BRIEF I LOCAL MARKETS

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1 DAILY MARKETS BRIEF I LOCAL MARKETS Last Daily % YTD % Dividend % MSCI Lebanon % -4.96% Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % 2.04% 10.97% BLC Listed % 0.00% BOB Listed % 0.00% 4.04% Byblos Listed % -2.92% 10.55% BEMO Listed % -1.27% BLOM Listed % -0.54% 12.21% Trading RYMCO % 0.00% Industrial BEIRUT STOCK EXCHANGE Holcim % -1.29% 16.75% Ciments Blancs % 2.35% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Moody s Investors Service maintained its stable outlook for Lebanese banks due to expected flows of customer deposits and economic growth, but warned that negative political developments were a key risk. Saudi Arabia s annual consumer price index fell for a second straight month in February, signaling a deflationary environment in the Arab world s biggest economy. The CPI index for February fell 2.2 percent from a year earlier, as prices for housing, water and energy all dropped, according to data from the General Authority for Statistics. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 5.89% Kuwait % 8.71% Oman % -5.63% Qatar % -3.40% KSA % 10.73% Dubai % 3.97% Abu Dhabi % 4.10% 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 Business MSCI GCC INDEX - 30 DAYS CHART GCC INDICES DAILY PERFORMANCE

2 DAILY MARKETS BRIEF I EQUITY MARKETS UNITED STATES EQUITY MARKET INDICES Last Price Daily % YTD % 10D Vol Major Indices DowJones % 9.39% -0.14% S&P % 11.63% -0.05% Nasdaq % 15.11% -0.08% Sectors Indices Discretionary % 13.86% 0.09% Staples % 9.44% -0.01% Energy % 14.33% -0.13% Financials % 5.95% -0.23% Healthcare % 4.75% -0.48% Industrials % 13.68% -0.37% IT % 17.77% 0.32% Materials % 7.31% -0.27% Com. Services % 13.97% -0.36% Utilities % 10.57% -0.34% Real Estate % 15.56% -0.13% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. equities ended relatively flat as worries about a slowdown in global economic growth lingered. Significant losses were incurred on Friday following the release of disappointing factory data. The S&P 500 was also weighed down by Apple, with the technology giant s shares falling after it unveiled its video streaming service. European equities suffered a fourth day of losses as persistent worries about the pace of global growth and Brexit uncertainty took their toll on shares in the region. Losses were mitigated in Europe by an unexpected rise in German business sentiment. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 10.50% 0.15% Developed % 10.78% 0.08% Emerging % 8.48% 0.90% Frontier % 9.21% 1.04% Europe % 10.67% 0.33% Latin America % 6.49% 0.13% Asia Pacific % 7.87% 4.81% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % 9.96% 0.03% FTSE % 6.68% 0.23% CAC % 11.20% 0.03% DAX % 7.46% 0.00% Swiss SMI % 10.39% 0.01% Nikkei % 7.06% 9.55% CSI % 23.16% 4.78% 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 % -0.37% - EUR/USD % -0.64% USD/JPY % 0.02% GBP/USD % -6.39% USD/CAD % -0.91% AUD/USD % 0.35% NZD/USD % 0.07% USD/CHF % -0.09% USD/NOK % -0.99% USD/SEK % -0.64% USD/CNY % -0.29% Major EUR Cross Rate EUR/GBP % -4.60% EUR/CHF % -0.18% EUR/JPY % -0.71% DISTANCE FROM 52 WEEKS LOW/HIGH The euro rose after a better-than-expected business confidence survey from Germany eased some of the worries about economic growth. The British pound fell after British Prime Minister May admitted there was not yet enough support to put her Brexit deal to a third vote, while parliament plotted to pull the process away from her government. The U.S. dollar was slightly lower against its relative peers, falling to benefit from news that U.S. Special Counsel Mueller found no evidence of collusion between Russia and President Trump. 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 Benchmark 10-year Treasury yields fell to their lowest levels since December 2017, while the yield curve between three-month bills and 10-year notes inverted further as investors evaluated last week s dovish pivot by the Federal Reserve. Philadelphia Fed President Harker said strong economic growth and a positive outlook could still keep a rate hike on the table this year. Germany s benchmark 10-year bond yield slid back into negative territory as worries over Brexit saw investors rushing for safe haven assets. Bunds remained under pressure from Friday s German manufacturing activity revealing a contraction for the third straight month. 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 1.6 (0.0200) USD HY Spread 4.3 (0.0800) USD HY Spread 3.9 (0.0700) 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 (3.000) Source: Bloomberg, Financial Times, Economic times, Reuters 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 were mixed, U.S. prices marked their lowest settlement in just over a week on the back of persistent worries about an economic slowdown. Venezuelan tensions provided support as Mike Pompeo said the U.S. will not stand idly by Russian meddling. Gold prices continued to rise, supported by a weaker dollar and persistent growth fears. Source: Bloomberg, Reuters 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 VIACOM INC-B VIAB LENNAR CORP-A LEN CONAGRA BRANDS I CAG TECHNIPFMC PLC FTI L BRANDS INC LB O'REILLY AUTOMOT ORLY KOHLS CORP KSS DR HORTON INC DHI FOOT LOCKER INC FL PULTEGROUP INC PHM S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % FOX CORP - A FOXA PHILIP MORRIS IN PM ABIOMED INC ABMD AKAMAI TECHNOLOG AKAM FOX CORP - B FOX MICRON TECH MU MCKESSON CORP MCK TEXAS INSTRUMENT TXN CARDINAL HEALTH CAH XILINX INC XLNX S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Citigroup said it planned to grow its Asia Pacific wealth management client base by 10 percent this year, stronger than the 8 percent growth it posted in 2018, as it hires more client advisers and boosts digital offerings. Uber said late it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The notes will be convertible into Uber shares at a price equal to $55 apiece, Uber said. The acquisition makes Careem a wholly owned subsidiary of Uber and will keep the Careem brand and app intact. Airbus signed a deal worth tens of billions of dollars on Monday to sell 300 aircraft to China, coinciding with a visit to Europe by Chinese President Xi Jinping. Apple attempted to reintroduce itself on Monday as an entertainment and financial services company that also makes iphones as it launched a streaming television service, a credit card and an online gaming arcade. Standard Chartered Chief Executive Bill Winters said fears over a slowdown in China s economic growth and the impact of the Sino-U.S. trade tensions are receding a bit. JPMorgan is asking around 300 staff in its London office to sign new contracts that will require them to move to one of the bank s other hubs in the European Union if there is a no-deal Brexit. Biogen said it would buy back shares worth $5 billion, days after its stock slumped on the drug maker's announcement to end two Alzheimer s disease trials. U.S. sportswear maker Nike was hit with a 12.5 million euro fine by the European Commission for blocking cross-border sales of soccer merchandise of some of Europe s best-known clubs. Sources: Seeking Alpha, Financial Times, Reuters, Wall Street Journal, CNBC

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time France GDP QoQ 0.30% % 9:45 France GDP YoY 0.90% % 9:45 France Manufacturing Confidence :45 France Production Outlook Indicator :45 France Own-Company Production Outlook :45 France Business Confidence :45 Germany GfK Consumer Confidence :00 Japan PPI Services YoY 1.10% 1.10% 1.10% 1:50 United States Conf. Board Consumer Confidence :00 United States Housing Starts 1210k k 14:30 United States Richmond Fed Manufact. Index :00 United States FHFA House Price Index MoM 0.40% % 15:00 United States Building Permits 1305k k 14:30 United States S&P CoreLogic CS 20-City NSA Index :00 United States S&P CoreLogic CS 20-City YoY NSA 3.80% % 15:00 United States S&P CoreLogic CS US HPI YoY NSA % 15:00 United States S&P CoreLogic CS US HPI NSA Index :00 United States Housing Starts MoM -1.60% % 14:30 United States Building Permits MoM -0.90% % 14:30 United States S&P CoreLogic CS 20-City MoM SA 0.30% % 15:00 United States Conf. Board Expectations :00 United States Conf. Board Present Situation :00 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.