DAILY MARKETS BRIEF I LOCAL MARKETS

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1 DAILY MARKETS BRIEF I LOCAL MARKETS Last Daily % YTD % Dividend % MSCI Lebanon % -7.57% Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % -5.51% 11.88% BLC Listed % 0.00% BOB Listed % 0.00% 4.04% Byblos Listed % -2.19% 10.48% BEMO Listed % -1.27% BLOM Listed % 0.22% 12.16% 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 Lebanon s Finance Ministry is expected to issue roughly $2 billion in Eurobonds in May or June, ministry advisor Talal F. Salman told Bloomberg in Washington. According to Salman, the debt s maturity is expected to be 10 years or more and Lebanese banks are projected to be the biggest buyers. The consumer price index in the emirate of Abu Dhabi fell by approximately 0.8 percent yearon-year during the first three months of 2019 to percent from percent, the Statistics Centre of Abu Dhabi revealed. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 7.78% Kuwait % 12.85% Oman % -7.22% Qatar % -0.75% KSA % 16.12% Dubai % 10.88% Abu Dhabi % 6.25% 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, Mubasher, Businessnews LB 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 % 13.11% -0.22% S&P % 15.91% 0.06% Nasdaq % 20.21% 0.20% Sectors Indices Discretionary % 20.05% -0.20% Staples % 11.86% -1.34% Energy % 17.14% -0.21% Financials % 13.11% 1.00% Healthcare % 4.17% 0.56% Industrials % 19.46% 0.41% IT % 23.78% 0.14% Materials % 14.36% 0.78% Com. Services % 18.99% 0.03% Utilities % 9.94% 0.01% Real Estate % 17.38% -0.22% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. equities fell, pressured lower by losses in financial stocks as big banks Goldman Sachs and Citigroup disappointed. Both banks showed sharp declines in earnings, compared with the firstquarter of last year, but were able to surpass analysts low expectations for quarterly profits. Focus remains on the U.S. China trade talks. European shares ended higher with telecom and retail stocks leading gains as U.S. China trade optimism and strong Chinese economic data eased some worries over global growth. Japanese equities rose, similarly supported by positive China related news. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 14.43% -0.03% Developed % 14.72% -0.06% Emerging % 12.47% 0.42% Frontier % 9.41% 1.02% Europe % 14.62% -0.16% Latin America % 6.98% -0.36% Asia Pacific % 11.10% 0.22% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % 14.96% 0.00% FTSE % 10.53% -2.10% CAC % 16.45% -0.03% DAX % 13.84% -0.15% Swiss SMI % 12.86% 0.36% Nikkei % 11.04% 2.15% CSI % 33.89% -4.96% 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 % -0.02% - EUR/USD % -0.10% USD/JPY % 0.05% GBP/USD % -0.24% USD/CAD % 0.01% AUD/USD % -0.14% NZD/USD % -0.26% USD/CHF % 0.06% USD/NOK % -0.10% USD/SEK % -1.33% USD/CNY % -0.21% Major EUR Cross Rate EUR/GBP % -0.02% EUR/CHF % 0.10% EUR/JPY % -0.04% DISTANCE FROM 52 WEEKS LOW/HIGH The U.S. dollar was slightly lower against most of its G-10 peers following news that the China is considering a U.S. request to shift some tariffs on key agricultural goods to other products in an effort to sell an eventual trade deal. The euro was marginally higher against the U.S. dollar after the Bundesbank, Germany s central bank, revealed Germany s economic growth picked up albeit modestly. The British pound was able to rise against the U.S. dollar in the absence of any significant Brexit -related developments as the Conservative and opposition Labour parties continue their talks. 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 from four-week highs ahead of U.S. data in a holiday-shortened week and following some losses in equity markets. Fed Chairman Powell reiterated the central bank s independence while pledging to serve out his 4-year term following fresh attacks from President Trump. Focus remains on U.S. retail sales, industrial production, and housing data due this week. German government bond yields ended marginally higher, with the rise attributed to the release of improved data from Europe and China late last week. British government bond yields rose ahead of the country s employment report for February and CPI data for March. 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) (0.0089) 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, 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 fell as Russian Finance Minister Siluanov questioned his country s participation in the OPEC-led production cut deal on concerns over market share. The EIA s weekly report revealing U.S. production remains at record levels at 12.2m bpd also weighed in. Gold prices ended lower, losing safe-haven appeal on U.S. China trade optimism. 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 ANTHEM INC ANTM UNITEDHEALTH GRP UNH FORTINET INC FTNT CVS HEALTH CORP CVS ULTA BEAUTY INC ULTA NATL OILWELL VAR NOV WASTE MANAGEMENT WM DOLLAR TREE INC DLTR BRISTOL-MYER SQB BMY CIGNA CORP CI S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % ALLIANCE DATA ADS NEKTAR THERAPEUT NKTR ELECTRONIC ARTS EA GOLDMAN SACHS GP GS HOLLYFRONTIER CO HFC ACTIVISION BLIZZ ATVI EOG RESOURCES EOG OCCIDENTAL PETE OXY MATTEL INC MAT EDISON INTL EIX S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Hulu has bought back wireless carrier AT&T s stake in the U.S. entertainment streaming service for $1.43 billion, in a deal that values Hulu at $15 billion, the two companies said on Monday. The sale of AT&T s 9.5 percent stake to Hulu in a cash deal gives Walt Disney, which holds a 60 percent stake in Hulu via a joint venture, more control of the company. Lufthansa reported an operating loss of 336 million euros ($380 million) for the first three months of the year, hurt by rising fuel costs and overcapacity in Europe. Italy s top bank UniCredit and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday. German prosecutors have charged former Volkswagen boss Martin Winterkorn with fraud over his role in the carmaker s manipulation of diesel emissions testing, more than three years after the scandal came to light. Shares of Spotify Technology fell 4 percent on Monday after a report said Amazon.com was in talks to launch a free ad-supported music service, which is expected to intensify competition for the music streaming leader. Citigroup reported higher-than-expected earnings on Monday despite declining revenue as the New York-based lender cut costs, grew its investment-banking business and expanded netinterest margin. Daimler Chief Executive Officer Dieter Zetsche said the German automaker would add a new compact SUV to its lineup later this year. 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 Canada Manufacturing Sales MoM -0.10% % 15:30 Canada Int'l Securities Transactions b 15:30 China Foreign Direct Investment YoY CNY % China New Home Prices MoM % 0.53% 4:30 Eurozone ZEW Survey Expectations :00 Eurozone Construction Output MoM % 12:00 Eurozone Construction Output YoY % 12:00 Eurozone ECB Main Refinancing Operation Result 12:30 Germany ZEW Survey Expectations :00 Germany ZEW Survey Current Situation :00 Japan Tertiary Industry Index MoM -0.20% -0.60% 0.40% 7:30 United Kingdom Jobless Claims Change k 11:30 United Kingdom Claimant Count Rate % 11:30 United Kingdom Average Weekly Earnings 3M/YoY 3.50% % 11:30 United Kingdom Weekly Earnings ex Bonus 3M/YoY 3.40% % 11:30 United Kingdom Employment Change 3M/3M 181k k 11:30 United States Industrial Production MoM 0.20% % 16:15 United States Capacity Utilization 79.20% % 16:15 United States NAHB Housing Market Index :00 United States Manufacturing (SIC) Production 0.10% % 16:15 United States Fed's Rosengren Speaks in North Carolina 3:00 United States ECB's Nowotny Speaks at Event in New York City 16:50 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.