DAILY MARKETS BRIEF I LOCAL MARKETS

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1 DAILY MARKETS BRIEF I LOCAL MARKETS BEIRUT STOCK EXCHANGE Last Daily % YTD % Dividend % MSCI Lebanon % % Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % % 10.83% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 10.02% BEMO Listed % 19.23% BLOM Listed % % 12.21% Trading RYMCO % 1.54% Industrial Holcim % 17.50% Ciments Blancs % 26.22% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Lebanon s Central Bank said Tuesday it has slapped $4.6 million of fines on some banks and clients for violating the rules and conditions of BDL s subsidized housing loans. BDL did not disclose the names and the number of Lebanese banks that have violated the conditions. Global index compiler MSCI has penned an agreement with the Saudi Stock Exchange (Tadawul) to create a joint tradeable index that it hopes may lead to the growth of exchangetraded funds and other investor products. Shares of Abu Dhabi banks ADCB and Union National Bank soared on potential merger talks. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 0.51% Kuwait % 3.52% Oman % % Qatar % 15.21% KSA % 10.27% Dubai % % Abu Dhabi % 13.31% 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 Last Price Daily % YTD % 10D Vol Major Indices DowJones % 4.99% -0.03% S&P % 8.34% 0.24% Nasdaq % 17.21% 0.71% Sectors Indices Discretionary % 18.61% -0.62% Staples % -6.32% -1.19% Energy % 2.36% 0.12% Financials % 1.70% 0.22% Healthcare % 11.22% 2.14% Industrials % 1.24% -0.86% IT % 19.62% 0.77% Materials % -2.73% 0.60% Telecom % -8.31% -0.68% Utilities % 1.42% 0.12% Real Estate % 1.34% -0.04% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. stocks fell as markets reopened after the long Labor Day holiday, with a selloff in shares in developing economies showing no signs of easing. European stocks suffered the largest intraday drop in 3 weeks as the Stoxx 600 extended declines to as much as 1% amid mounting concerns over emerging markets and trade tensions. Stocks in Italy fared better than their counterparts as Salvini vowed to respect budget rules. Asian stocks slipped for a fourth day as trade tensions and contagion risk from emerging markets weighed in. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 1.17% 0.68% Developed % 2.82% 0.73% Emerging % % 0.16% Frontier % % -0.71% Europe % -2.66% 0.75% Latin America % % 1.94% Asia Pacific % -5.70% 1.16% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % -4.13% 0.66% FTSE % -2.99% 1.83% CAC % 0.57% 1.82% DAX % -5.48% 1.30% Swiss SMI % -4.58% 0.51% Nikkei % -0.53% 1.92% CSI % % -1.53% DEVELOPED VS EMERGING - 30 DAYS CHART EMERGING DEVELOPED INTERNATIONAL EQUITY - 30 DAYS CHART FTSE 100 CAC 40 DAX NIKKEI 225 Source: Bloomberg, Financial Times

3 DAILY MARKETS BRIEF I FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET Last Price Daily % 10D Vol 25RR Major USD Cross Rate USD Index % -1.26% - EUR/USD % -0.61% USD/JPY % -1.11% GBP/USD % -1.06% USD/CAD % -0.53% AUD/USD % -1.94% NZD/USD % -0.98% USD/CHF % -0.56% USD/NOK % -0.70% USD/SEK % -1.40% USD/CNY % -0.72% Major EUR Cross Rate EUR/GBP % -0.15% EUR/CHF % 0.02% EUR/JPY % -0.03% DISTANCE FROM 52 WEEKS LOW/HIGH The dollar partly trimmed its advance Tuesday as risk aversion abated after stronger-thanexpected ISM manufacturing data. The pound headed for a fourth straight loss, weighed down by weaker-than-expected U.K. construction PMI, Bank of England policy uncertainty and speculation that governor Carney plans to extend his term. The yen and the euro both weakened amid broad dollar strength ahead of key U.S economic indicators this week. EUR/USD 30 DAYS SUPPORT & RESISTANCE Source: Bloomberg, Financial Times 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 Yields rose across the U.S. Treasury yield curve in Tuesday afternoon trading to three week highs after data showed that U.S manufacturing activity accelerated to a more than 14-year high in August. Maturities across the German sovereign yield curve were little changed in Tuesday afternoon trading. Bank of England governor Mark Carney has signaled that he is willing to extend his term on by an extra year to help steer the economy through the Brexit transition. 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 3.38 (0.0300) EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0162) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread (0.0065) EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread Source: Bloomberg, Financial Times 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 % Crude oil prices settled marginally higher Tuesday amid expectations for supply disruptions as a hurricane is expected to make landfall on the U.S. Gulf coast. Gold futures drop to lowest in more than a week as the dollar climbs and an increase in yields. Silver drops to lowest since January Source: Bloomberg GOLD 30 DAYS SUPPORT & RESISTANCE SILVER 30 DAYS SUPPORT & RESISTANCE

6 DAILY MARKETS BRIEF I COMPANY NEWS S&P 500 Stocks TOP 10 WINNERS Ticker Last Price Daily % ADV MICRO DEVICE AMD ULTA BEAUTY INC ULTA KOHLS CORP KSS NORDSTROM INC JWN ADVANCE AUTO PAR AAP CBOE GLOBAL MARK CBOE NEKTAR THERAPEUT NKTR TRACTOR SUPPLY TSCO O'REILLY AUTOMOT ORLY MARATHON PETROLE MPC S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % SEAGATE TECHNOLO STX WESTERN DIGITAL WDC PVH CORP PVH FREEPORT-MCMORAN FCX IPG PHOTONICS IPGP MCKESSON CORP MCK WYNN RESORTS LTD WYNN COGNIZANT TECH-A CTSH MGM RESORTS INTE MGM CABOT OIL & GAS COG S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Three of Citigroup s most senior executives are leaving the bank, including chief financial officer John Gerspach and its Europe, Middle East and Africa head Jim Cowles, elevating a new generation of executives at one of America s biggest banks. Deutsche Bank is to drop out of Europe s leading index of blue-chip companies this month, the latest setback for the group that before the financial crisis was one of the world s largest lenders by assets. French pharmaceutical company Sanofi has agreed to pay more than $25m to resolve charges that its Kazakhstan and Middle East subsidiaries made corrupt payments to win business, the Securities and Exchange Commission said on Tuesday. Low-cost carrier Ryanair s chairman David Bonderman is facing a growing threat of a shareholder protest at the company s annual meeting as calls mount for investors to vote against his re-election. Amazon has hit a $1tn market capitalization, capping an extraordinary surge that has seen the ecommerce group s stock more than double in 12 months. Amazon added around $520 billion in equity value in the last year alone. Lego s new chief executive insisted his turnaround of the Danish toymaker was on track even as sales and profits fell slightly and the bankruptcy of several retailers including Toys R Us shook the privately owned company. Nike shares were lower yesterday as investors reacted to news that the sportswear company had made Colin Kaepernick a face of its latest advertising campaign. Kaepernick, an NFL player, gained notoriety for refusing to stand up during the US national anthem. Sources: Seeking Alpha, Financial Times, Reuters

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Canada Bank of Canada Rate Decision 1.50% % 17:00 China Caixin China PMI Composite :45 China Caixin China PMI Services :45 Eurozone Markit Eurozone Composite PMI :00 Eurozone Markit Eurozone Services PMI :00 France Markit France Composite PMI :50 France Markit France Services PMI :50 Germany Markit Germany Services PMI :55 Germany Markit/BME Germany Composite PMI :55 Italy Markit/ADACI Italy Services PMI :45 Italy Markit/ADACI Italy Composite PMI :45 Japan Nikkei Japan PMI Services :30 Japan Nikkei Japan PMI Composite :30 Russia CPI YoY 3.10% % Russia CPI Core MoM 0.20% % Russia Markit Russia PMI Services :00 Russia Markit Russia PMI Composite :00 United Kingdom Markit/CIPS UK Services PMI :30 United Kingdom Markit/CIPS UK Composite PMI :30 United States MBA Mortgage Applications % 14:00 United States Trade Balance -$50.2b -- -$46.3b 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.