DAILY MARKETS BRIEF I LOCAL MARKETS

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1 DAILY MARKETS BRIEF I LOCAL MARKETS Last Daily % YTD % Dividend % MSCI Lebanon % -5.33% Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % -0.61% 10.96% BLC Listed % 0.00% BOB Listed % 0.00% 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% Ciments Blancs % 7.84% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE The Saudi Stock Exchange ended lower after its benchmark Tadawul All Share Index fell. The food production sector led decliners, while the basic materials and telecommunications sectors were also notable underperformers. The Dubai Financial Market rose supported by broad gains in the telecommunications and consumer staples sectors. The Abu Dhabi Securities Exchange hit its highest levels in 11 sessions with the telecommunication and investment sector leading gains. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 6.45% Kuwait % 7.99% Oman % -3.71% Qatar % -3.13% KSA % 10.40% Dubai % 3.95% Abu Dhabi % 3.25% 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 % 10.37% -0.77% S&P % 12.66% -1.46% Nasdaq % 16.48% -2.91% Sectors Indices Discretionary % 14.08% -3.80% Staples % 8.42% -0.45% Energy % 16.61% -0.30% Financials % 9.72% 4.25% Healthcare % 6.37% -0.38% Industrials % 14.95% 0.08% IT % 18.16% -1.87% Materials % 9.66% -1.67% Com. Services % 14.63% 0.00% Utilities % 8.54% 0.01% Real Estate % 14.01% -0.02% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. equities ended lower following a weak profit outlook from FedEx and on trade concerns. Stocks were pressured lower after President Trump said tariffs could be left on China for a long period of time but added a trade deal with Beijing was coming along. A dovish monetary policy stance from the Federal Reserve later dragged down financial stocks. European shares retreated from near six-month highs with German stocks leading losses as chemicals producer Bayer and carmaker BMW tumbled, and as the E.U. said a short Brexit delay is possible if Parliament backs PM May s deal. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 11.93% -1.49% Developed % 12.11% -1.36% Emerging % 10.63% -1.93% Frontier % 10.34% -0.23% Europe % 12.56% 1.42% Latin America % 11.83% -2.51% Asia Pacific % 9.26% -0.69% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % 12.36% 1.79% FTSE % 8.37% -0.22% CAC % 13.78% 1.15% DAX % 9.90% 3.31% Swiss SMI % 12.27% -0.55% Nikkei % 7.96% -0.41% CSI % 27.71% -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, Reuters

3 DAILY MARKETS BRIEF I FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET Last Price Daily % 10D Vol 25RR Major USD Cross Rate USD Index % 0.11% - EUR/USD % -0.06% USD/JPY % -0.26% GBP/USD % -0.51% USD/CAD % -0.16% AUD/USD % -0.01% NZD/USD % -0.61% USD/CHF % -0.03% USD/NOK % 0.07% USD/SEK % 0.17% USD/CNY % 0.04% Major EUR Cross Rate EUR/GBP % -0.72% EUR/CHF % 0.02% EUR/JPY % 0.23% DISTANCE FROM 52 WEEKS LOW/HIGH The U.S. dollar was significantly lower, hitting its lowest level in more than six weeks against a basket of major currencies, as the Federal Reserve confirmed a dovish monetary policy stance and abandoned projections for any interest rate hikes this year amid signs of an economic slowdown. Weakness in the U.S. dollar supported rival currencies, with the euro and Canadian dollar notably benefiting. The British pound fell against its peers after PM May asked the EU to delay Brexit until June 30, a shorter extension than expected, and warned that a no-deal Brexit is still possible. 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 fell, with the benchmark 10-year yield falling to a 14-month low, after the Federal Reserve said it would hold interest rates steady. Policymakers also abandoned projections for additional rate hikes this year amid signs of an economic slowdown. Nine of the Fed s 17 policymakers reduced their outlook for the fed funds rate. Initial jobless claims figures remain in focus. Eurozone government bond yields fell in anticipation of the Fed announcement. Eurozone and U.K. gilt yields also fell as news surfaced that the U.K. would seek an extension to Brexit. 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 (0.0961) USD USD IG 2Y Spread vs 10Y Spread (0.0100) (0.0135) 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 (0.0007) 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, 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 rose, reaching their highest levels in four months after U.S. government data revealed a nearly 10 million-barrel weekly drop in domestic crude inventories, along with hefty declines in both gasoline and distillate stockpiles. Gold prices rose as the U.S. dollar fell following the Fed s announcement. 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 NETFLIX INC NFLX PIONEER NATURAL PXD TWITTER INC TWTR NOBLE ENERGY INC NBL HESS CORP HES DEVON ENERGY CO DVN EOG RESOURCES EOG CONCHO RESOURCES CXO HALLIBURTON CO HAL MARATHON OIL MRO S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % VIACOM INC-B VIAB KEYCORP KEY BRIGHTHOUSE FINA BHF NEKTAR THERAPEUT NKTR FOX CORP - B FOX FIFTH THIRD BANC FITB UNUM GROUP UNM HUNTINGTON BANC HBAN M&T BANK CORP MTB COMERICA INC CMA S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Levi Strauss fetched a higher price than expected in its initial public offering on Wednesday, selling $623.3 million in shares as the U.S. jeans maker looks to return to the stock market after 34 years as a family-owned company. Levi said it priced its IPO at $17 share, just above its target range of $14 to $16, valuing the company at about $6.6 billion. Indonesian carrier Lion Air has started working on $1 billion domestic initial public offering, Bloomberg reports as it seeks to move past the crash in October last year that killed 189 people on board. Lyft executives are focused on cutting insurance costs and will phase in self-driving vehicles on simple routes first, they said at a road show for investors ahead of the ride-hailing company s initial public offering set for next week. Ford said it is adding production of a fully electric vehicle at a second North American plant as part of its $11 billion investment plan set last year. Boeing Co was awarded a $4 billion contract for advance purchase of materials to produce 78 F/A 18 aircraft for the U.S. Navy, the Pentagon said. Swedish carmaker Volvo hopes to reinforce its reputation for safety-first driving by installing cameras and sensors in its cars from the early 2020s, monitoring drivers for signs of being drunk or distracted and intervening to prevent accidents. Alphabet s Google was fined 1.49 billion euros ($1.7 billion) on Wednesday, its third large European Union antitrust penalty in two years marking the company s decade-long regulatory battle in Europe. 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 Australia Unemployment Rate 5.00% 4.90% 5.00% 2:30 Australia Employment Change 15.0k 4.6k 39.1k 2:30 Australia Participation Rate 65.70% 65.60% 65.70% 2:30 Australia Full Time Employment Change k 65.4k 2:30 Australia RBA FX Transactions Market -- A$432m A$337m 2:30 Canada Wholesale Trade Sales MoM 0.60% % 14:30 Eurozone Consumer Confidence :00 Russia Gold and Forex Reserve b 15:00 United Kingdom Bank of England Bank Rate 0.75% % 14:00 United Kingdom Retail Sales Inc Auto Fuel MoM -0.40% % 11:30 United Kingdom Retail Sales Ex Auto Fuel MoM -0.40% % 11:30 United Kingdom Retail Sales Inc Auto Fuel YoY 3.30% % 11:30 United Kingdom Retail Sales Ex Auto Fuel YoY 3.50% % 11:30 United Kingdom BOE Asset Purchase Target 435b b 14:00 United Kingdom PSNB ex Banking Groups 0.7b b 11:30 United Kingdom Public Sector Net Borrowing -0.8b b 11:30 United States Initial Jobless Claims 225k k 14:30 United States Leading Index 0.10% % 16:00 United States Philadelphia Fed Business Outlook :30 United States Continuing Claims 1770k k 14:30 United States Bloomberg Consumer Comfort :45 United States Bloomberg Economic Expectations :45 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.