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 % -6.81% Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % -5.31% 11.81% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % -1.46% 10.39% BEMO Listed % -1.27% BLOM Listed % -3.35% 12.56% Trading RYMCO % 0.00% Industrial Holcim % -1.10% Ciments Blancs % 0.00% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Saudi Arabia would need oil to be priced at $80-$85 a barrel in order for the top oil exporter to balance its budget this year, Jihad Azour, director of the International Monetary Fund s Middle East and Central Asia department said. Source: Daily Star, Gulf Business GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 4.59% Kuwait % 2.84% Oman % -4.18% Qatar % 0.03% KSA % 9.16% Dubai % -0.87% Abu Dhabi % 2.74% 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 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 % 7.40% 0.26% S&P % 8.10% -0.19% Nasdaq % 10.14% -1.29% Sectors Indices Discretionary % 8.13% -0.68% Staples % 6.12% -0.03% Energy % 9.88% 0.07% Financials % 7.75% 0.17% Healthcare % 3.78% 0.08% Industrials % 13.91% -0.97% IT % 9.43% -1.66% Materials % 4.52% -1.24% Com. Services % 8.65% -0.68% Utilities % 5.04% 0.39% Real Estate % 11.76% -0.30% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE The S&P 500 and the Nasdaq were marginally higher while the blue chip Dow Industrials edged lower in a mixed session as investors eyed ongoing U.S.-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook. European markets rose, supported by a 1 percent rise in Chinese shares, which resumed trading after the week-long Lunar New Year holiday. Banks and miners led the advance in the pan European Stoxx 600 index. Markets were closed in Japan yesterday in celebration of the National Founding Day. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 7.30% 0.00% Developed % 7.31% -0.01% Emerging % 7.21% 0.01% Frontier % 7.91% -0.15% Europe % 6.89% 0.08% Latin America % 9.48% 0.87% Asia Pacific % 5.46% -0.06% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % 5.47% 0.66% FTSE % 5.96% -0.53% CAC % 6.00% 0.38% DAX % 4.32% 1.20% Swiss SMI % 7.58% -0.37% Nikkei % 4.24% 0.00% CSI % 10.39% -1.16% 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 % -1.26% - EUR/USD % -1.40% USD/JPY % -0.67% GBP/USD % -0.80% USD/CAD % -2.24% AUD/USD % -2.86% NZD/USD % -1.80% USD/CHF % -0.13% USD/NOK % -2.69% USD/SEK % -0.38% USD/CNY % 0.05% Major EUR Cross Rate EUR/GBP % 0.00% EUR/CHF % -0.89% EUR/JPY % 0.11% DISTANCE FROM 52 WEEKS LOW/HIGH The dollar rose as concerns grew that U.S.-China talks this week would not heal a rift over trade between the world's largest economies. The dollar has been supported by safe-haven buying, rising against its peer in the previous 8 sessions. The British pound fell against the U.S. dollar after data showed that Britain s economy last year grew at its slowest since 2012, with Brexit uncertainty hitting investment and the slowdown accelerating at the end of The euro was similarly lower against the dollar, falling to fresh 2019 lows. 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 ended slightly higher as investors awaited consumer price data on Wednesday that will show inflation pressures in January, and as investors focused on trade talks between the U.S. and China. Italian government bonds outperformed the rest of the euro zone debt market with yields falling after the Bank of Italy data showed banks shed more than 17 billion euros in bad loans last December. Yields spreads between short and longer-dated British government bonds fell following the release of the aforementioned disappointing data. 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, Economic 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 % Oil prices fell to their lowest levels in two weeks as worries of a stalemate in U.S China trade talks fueled concerns about global growth. Gold fell as the dollar continued to rise. The fall was mitigated by the uncertainty surrounding trade talks. Other precious metals also fell, with platinum leading declines. 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 ABIOMED INC ABMD NEWELL BRANDS IN NWL COTY INC-CL A COTY CHIPOTLE MEXICAN CMG MATTEL INC MAT CONCHO RESOURCES CXO NEKTAR THERAPEUT NKTR NORFOLK SOUTHERN NSC HANESBRANDS INC HBI CONAGRA BRANDS I CAG S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % ACTIVISION BLIZZ ATVI LOEWS CORP L WELLCARE HEALTH WCG TAKE-TWO INTERAC TTWO EXPEDIA GROUP IN EXPE CBS CORP-B CBS DXC TECHNOLOGY C DXC SEMPRA ENERGY SRE VIACOM INC-B VIAB NEWS CORP-CL B NWS S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Apple iphone sales in China fell 20 percent year-on-year in the fourth quarter of 2018, while sales for smartphones made by home-grown rival Huawei soared by 23 percent, data from industry research firm IDC showed on Monday. Social media network Reddit said it raised $300 million in its latest funding round, led by Tencent Holdings, giving it a market valuation of $3 billion. The series D funding round saw a $150 million investment from Tencent and the company s former investors. Altria Group will tap the European investment grade corporate bond market to help finance its $12.8 billion purchase of a stake in e-cigarette maker Juul Labs, the Marlboro maker said in a regulatory filing. Tesla shareholder T. Rowe Price Group had a 5.2 percent stake in the electric car maker as of end-december, roughly half its earlier stake, a regulatory filing revealed. As of September, the fund manager had a percent stake in Tesla. UBS has reorganized its pay policy for 10,000 back-office workers, Switzerland s biggest lender said, changing how their bonuses are calculated. Saudi Arabia rejected the suggestion it played a role in leaking Amazon CEO Jeff Bezos' intimate messages to the National Enquirer. French lender BNP Paribas is not looking to merge with other banks despite some challenges at its corporate and institutional banking arms, its chief financial officer told CNBC. Credit Suisse expects a higher tax rate for 2018 than previously forecast, saying it expects to be hit by U.S. tax provisions aimed at preventing companies from shifting profits abroad. Sources: Seeking Alpha, Financial Times, Reuters, Wall Street Journal

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Australia Home Loans MoM -2.00% -6.10% -0.90% 2:30 Australia NAB Business Confidence :30 Australia NAB Business Conditions :30 Australia Owner-Occupier Loan Value MoM % -1.40% 2:30 Canada Int'l Merchandise Trade b China Money Supply M2 YoY 8.20% % China New Yuan Loans CNY b b China Money Supply M1 YoY 1.80% % China Money Supply M0 YoY 8.40% % India Industrial Production YoY 1.50% % 14:00 India CPI YoY 2.52% % 14:00 Japan Tertiary Industry Index MoM -0.10% -0.30% -0.30% 6:30 Japan Money Stock M2 YoY 2.40% 2.40% 2.40% 1:50 Japan Money Stock M3 YoY 2.10% 2.10% 2.10% 1:50 Japan Machine Tool Orders YoY % % 8:00 Mexico International Reserves Weekly $175523m 17:00 Mexico ANTAD Same-Store Sales YoY % Russia Budget Balance YTD 145.0b b South Africa Manufacturing Prod NSA YoY 1.40% % 13:00 South Africa Manufacturing Prod SA MoM 0.40% % 13:00 South Africa South Africa Unemployment 27.50% % 11:30 United States NFIB Small Business Optimism :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.