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 % -0.89% Development and Reconstruction Solidere A % 4.74% Solidere B % 6.02% Banking Audi Listed % -0.17% 9.54% BLC Listed % 0.00% BOB Listed % 0.00% 3.52% Byblos Listed % -5.00% 9.23% BEMO Listed % 20.77% 3.37% BLOM Listed % -5.33% 10.19% Trading RYMCO % 1.54% Industrial Holcim % 6.02% 15.57% Ciments Blancs % 24.44% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE SOVEREIGN CURVE After a meeting with president Michel Aoun, Central Bank Governor Riad Salameh said Thursday that the parliamentary elections held earlier this month had a positive effect on Lebanon s financial situation, safeguarding the stability of the Lebanese currency. Salameh added that discussions were being held to look into the best ways to deal with increases in interest rates and oil prices. Saudi Arabia s future sovereign credit rating will be judged on the success of its reform program rather than its oil revenues, rating agency Moody s has told Arab News. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % -4.43% Kuwait % 3.52% Oman % -9.44% Qatar % 4.31% KSA % 10.94% Dubai % % Abu Dhabi % 0.76% LOCAL/GCC FOREIGN EXCHANGE Cross Last Price Lebanese Pound Spot /LBP Bahraini Dinar Spot /BHD Kuwaiti Dinar Spot /KWD Omani Rial Spot /OMR Qatari Riyal Spot /QAR Saudi Riyal Spot /SAR UAE Dirham Spot /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 % -0.02% -1.70% S&P % 1.74% -1.40% Nasdaq % 6.94% -2.16% Sectors Indices Discretionary % 6.36% -1.88% Staples % % -2.96% Energy % 8.46% 0.69% Financials % 0.73% -0.62% Healthcare % 0.30% -0.14% Industrials % -1.46% -0.98% IT % 9.57% -1.96% Materials % -1.31% -1.03% Telecom % % -0.16% Utilities % -7.49% -0.67% Real Estate % -7.79% -1.84% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. indices ended the trading day at slightly lower, as elevated oil prices lifted the energy sector, while the rising yield rates negatively impacted the tech and utilities sectors. European stocks rose to the highest level since late January as oil rallied and investors awaited the results of talks to form a new Italian government. The UK s FTSE 100 index closed at a record high on the back of a weakening currency and higher oil revenues. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 0.76% -0.48% Developed % 1.05% -0.86% Emerging % -1.24% 1.39% Frontier % -5.05% 2.03% Europe % 1.67% -0.11% Latin America % -2.64% 3.80% Asia Pacific % 0.18% -0.11% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % 2.52% 0.87% FTSE % 1.30% -1.33% CAC % 5.82% 2.54% DAX % 1.52% -0.31% Swiss SMI % -4.19% -1.27% Nikkei % 0.66% 0.13% CSI % -4.08% 0.54% 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 Cross Rate Index % -0.06% - EUR/ % 0.02% /JPY % -0.14% GBP/ % -0.23% /CAD % -0.14% AUD/ % -0.12% NZD/ % 0.18% /CHF % -0.35% /NOK % -0.01% /SEK % -0.28% /CNY % -0.01% Major EUR Cross Rate EUR/GBP % -0.32% EUR/CHF % 0.04% EUR/JPY % -0.37% DISTANCE FROM 52 WEEKS LOW/HIGH Continued strong performance of economic indicators, and a steady increase in government bond yields have allowed the dollar to head for a fifth straight weekly gain, advancing against all of its G-10 peers during this week. The deadlock between Italy s two populist parties in government raised concerns of a government debt writedown, and negatively impacted the Euro. The British pound recovered losses during the day after reprts suggested May is willing to remain in the EU s custom union. EUR/ 30 DAYS SUPPORT & RESISTANCE Source: Bloomberg, Financial Times GBP/ 30 DAYS SUPPORT & RESISTANCE /JPY 30 DAYS SUPPORT & RESISTANCE /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 0 0 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 Emerging Market IG & HY The US yield curve continued to steepen, with 30-year yields rising as much as 2bps to touch 3.26%, the highest levels since Sept while the 10-year yield was at a 7-yeara high. Bunds started the trading day lower as yields raced upwards in Italy to almost 2.2% before correcting closer to 2.1%. Yields on Japanese bonds remained flat as consumer inflation slowed in April, after dropping a month previously. This is the first time this has happened since 2017, when Japan exited deflation. OVERNIGHT RATES - SWAPS Yield Yield (in Bps) 3M LIBOR M EUR EURIBOR M GBP LIBOR Y SWAP Y SWAP Y SWAP Y SWAP Spread (in FIXED INCOME SPREADS r Spread Bps) 3M vs 10Y Spread Spread Spread (in Bps) 2Y 3M vs vs 10Y 10Y Spread IG 2Y Spread vs 10Y Spread (0.0100) HY IG Spread Spread (0.0800) HY Spread 3.22 (0.0100) EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0466) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread (0.0219) EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread Source: Bloomberg, Financial Times 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 % Brent oil briefly passed the $80 mark, and is set for the longest weekly run of gains in seven years on growing concerns over supply disruptions from the Middle East to Venezuela and a decrease in global inventories. Gold maintained its price performance, as investors are drawn towards higher fixedincome yields this week. 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 % MARATHON PETROLE MPC ANDEAVOR ANDV VALERO ENERGY VLO EOG RESOURCES EOG CONCHO RESOURCES CXO EXPRESS SCRIPTS ESRX ALLERGAN PLC AGN APACHE CORP APA PHILLIPS 66 PSX PIONEER NATURAL PXD S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % NEKTAR THERAPEUT NKTR CBS CORP-B CBS CISCO SYSTEMS CSCO MICRON TECH MU WYNDHAM WORLD WYN DISCOVERY INC - DISCA DISCOVERY INC-C DISCK UNDER ARMO-C UA DUKE ENERGY CORP DUK COTY INC-CL A COTY S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY The world s three largest oil traders - Glencore, Royal Dutch Shell and Vitol - are competing to buy Petrobras' African unit that owns stakes in two major Nigerian offshore oil blocks, Reuters reports. Facebook CEO Mark Zuckerberg heads overseas to meet with the European Parliament on Tuesday evening in a private, where he'll discuss the use of personal data of the company's European Union users. Goldman Sachs estimates that Tesla will need $10B in fresh capital by 2020 to fund operations, with new bond issuance, convertible notes, and equity all possible sources of cash for Elon Musk, according to GS analyst David Tamberrino. JPMorgan names Oliver Harris to lead its crypto-asset strategy at its corporate and investment bank, Financial News reports, citing people familiar with the matter. Investors and analysts are seeing a match made in grocery heaven after Kroger (NYSE:KR) announced a partnership with e-commerce specialist Ocado Group. The deal is also seen as a nice countermeasure by Kroger to Amazon's grocery ambitions, and is expected to easily beat e- commerce efforts of other U.S. brick-and-mortar retailers due to the large fulfillment and distribution capabilities. Sources: Seeking Alpha, Financial Times

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Canada CPI YoY 2.30% % 15:30 Canada CPI NSA MoM 0.30% % 15:30 Canada Retail Sales MoM 0.30% % 15:30 Canada Retail Sales Ex Auto MoM 0.50% % 15:30 Canada Consumer Price Index :30 Canada CPI Core- Common YoY% 1.90% % 15:30 Canada CPI Core- Trim YoY% 2.10% % 15:30 China FX Net Settlement - Clients CNY b Eurozone ECB Current Account SA b 11:00 Eurozone Trade Balance SA 21.0b b 12:00 Eurozone Trade Balance NSA b 12:00 Eurozone Current Account NSA b 11:00 Germany PPI MoM 0.30% % 9:00 Germany PPI YoY 1.80% % 9:00 Germany Wholesale Price Index MoM % 9:00 Germany Wholesale Price Index YoY % 9:00 Italy Current Account Balance m 11:00 Japan Natl CPI YoY 0.70% 0.60% 1.10% 2:30 Japan Natl CPI Ex Fresh Food YoY 0.80% 0.70% 0.90% 2:30 Russia Industrial Production YoY 1.20% % United States Baker Hughes U.S. Rig Count :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.