Market Report as of 25th February 2010

US MARKETS US indices traded up as Ben Bernanke said interest rate should stay low for a prolonged period of time. Shares in the diversified financials, semiconductors and retailing sectors should gain most.

82% of S&P500 constituents traded higher yesterday. 77% trade above their 20D MA vs 65% Tuesday (above the 20D moving average). 83% trade above their 200D MA vs 80% Tuesday (below the 20D moving average).

The VIX index eased 1.1pt to 20.27.

The 10yr yield rose 0.8bp to 3.69% (above its 20D MA). The 2yr-10yr spread rose 2.6bps to -283bps (above its 20D MA).

Market Report as of 25th February 2010

FOREIGN EXCHANGE U.S. Dollar pared most of its earlier losses on Wednesday. On the economic data front, sales of new homes in the U.S. unexpectedly plunged 11.2% in January to a seasonally adjusted annual rate of 309,000 according to the Commerce Department.

The Euro rebounded against the British pound. Standard & Poor’s maintained Greece’s BBB+ long-term and A-2 short-term sovereign credit ratings but warned that a ratings cut is likely within a month. Meanwhile, there was a one-day strike by major Greek unions in protest of the government’s plans to cut the deficit.

The Japanese Yen was mixed against its major counterparts.

Market Report as of 24th February 2010

The Euro dropped against the British pound. The Munich-based Ifo Institute reported that its business sentiment index fell to 95.2 from 95.8 in January for the first decline in ten months. Meanwhile, Bank of England Governor Mervyn King said “there have been some signs of a recovery in demand around the world, and also at home, but this nascent recovery is fragile”.

Market Report as of 22th February 2010

The Japanese Yen jumped against its major counterparts. The BOJ summary released Tuesday said “some members expressed the view that for individual countries — including Japan, for which the fiscal situation was serious — to be able to conduct appropriate policies while ensuring market stability, it had become all the more important to maintain market confidence in the conduct of both fiscal policy and monetary policy”.

We are delighted to inform you that One Financial’s Head of Marketing (Middle East) Sherif Sanad will be appearing live on Al Arabiya at 1.40 PM Dubai Time Thursday 25 – 02 – 2010, to talk about what’s happening right now in the local and international financial markets.

Market Report as of 22th February 2010

EUROPEAN MARKETS The DJ Euro STOXX 50 rose 0.54% to 2793.37. Stocks from the auto, food & beverage and media sectors gained ground. On the contrary, stocks from the basic resources, retail and insurance sectors fell.

69% of DJ STOXX 600 stocks traded higher Friday. 68% trade above their 20D MA vs 62% Thursday (above the 20D moving average). 72% trade above their 200D MA vs 71% Thursday (below the 20D moving average).

The DJ Euro Stoxx 50 Volatility index eased 0.78pt to 23.81.

The 10yr Bund yield rose 6bps to 3.25% (above its 20D MA). The 2yr-10yr spread fell 2bps to -220bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed up 0.62% to 5358.17. Personal & Household Goods, travel & leisure and food & beverages shares gained most in London Friday. Unilever gained 2.69% to 1947p and Royal Dutch Shell B 1.14% to 1728p.

In Switzerland, the SMI gained 1.09% to 6709.68. Nestle added 2.43% to SF52.7 and Novartis 1.53% to SF59.9.

European markets should start the day on a stable note.

Market Report as of 22th February 2010

US MARKETS US indices were broadly unchanged Friday. Shares in the utilities, transportation and insurance sectors gained most whereas shares in the auto, telecom services and health care equipment & services were under pressure.

68% of S&P500 constituents traded higher Friday. 81% trade above their 20D MA vs 77% Thursday (above the 20D moving average). 84% trade above their 200D MA vs 83% Thursday (above the 20D moving average).

The VIX index eased 0.61pt to 20.02.

The 10yr yield fell 2.9bps to 3.8% (above the 20D moving average). The 2yr-10yr spread rose 2.1bps to -285bps (below its 20D MA).

Market Report as of 18th February 2010

EUROPEAN MARKETS The DJ Euro STOXX 50 rebounded 1.52% to 2762.25. Stocks from the construction, travel & leisure and financial services sectors gained ground.

86% of DJ STOXX 600 stocks traded higher yesterday. 56% trade above their 20D MA vs 35% Tuesday (above the 20D moving average). 71% trade above their 200D MA vs 67% Tuesday (below the 20D moving average).

The DJ Euro Stoxx 50 Volatility index eased 1.16pt to 25.62.

The 10yr Bund yield was unchanged to 3.21% (above its 20D MA). The 2yr-10yr spread rose 10bps to -213bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed up 0.62% to 5276.64. Auto & Parts, banks and travel & leisure shares gained most in London yesterday. HSBC Holdings gained 1.98% to 681p and Rio Tinto 1.25% to 3400p.

In Switzerland, the SMI rose 1.08% to 6567.6. Roche added 1.34% to SF181.2 and Novartis 1.21% to SF58.55.

European markets should start the day on stable to down note.

Market Report as of 18th February 2010

FOREIGN EXCHANGE U.S. Dollar was firm against most of its major counterparts on Wednesday. On the economic data front, housing starts rose at an annual rate of 591,000 in January (vs. + 580K expected) according to the Commerce Department. Also, industrial production in the U.S. rose more than expected as output at factories, mines and utilities jumped 0.9% in January after a 0.7% increase in December. Several members of the Federal Reserve advocated starting asset sales in the “near future” according to minutes of the Fed’s January meeting.

The British Pound jumped against the euro. The panel’s decision to pause its 200 billion pound quantitative-easing program was unanimous according to minutes from the Bank of England Monetary Policy Committee’s meeting.

The Japanese Yen was under pressure against its major counterparts.

Market Report as of 17th February 2010

FOREIGN EXCHANGE U.S. Dollar dropped against most of its major counterparts on Tuesday. On the economic data front, the Empire State Manufacturing index rose to 24.9 (vs. 18 expected) in February from 15.9 in January. Also, the NAHB/Wells Fargo housing market index rose to 17 in February after falling in December and January.

The Australian Dollar was firm against its major counterparts. “Members expected that, if economic conditions continued to improve as expected, further increases in the cash rate were likely to be necessary. But they did not regard that outlook as requiring an increase at every meeting,” said minutes of the recent Reserve Bank of Australia meeting.

The British Pound slid against the euro. Inflation jumped at an annual rate of 3.5% in January in the U.K.

The Japanese Yen was under pressure against its major counterparts.

Market Report as of 17th February 2010

EUROPEAN MARKETS The DJ Euro STOXX 50 bounced 1.38% to 2720.77 driven by gains in the basic resources, bank and auto sectors. On the contrary, stocks from the personal & household goods, media and health sectors fell.

82% of DJ STOXX 600 stocks traded higher yesterday. 35% trade above their 20D MA vs 22% Monday (below the 20D moving average). 67% trade above their 200D MA vs 65% Monday (below the 20D moving average).

The DJ Euro Stoxx 50 Volatility index eased 1.54pt to 26.78.

The 10yr Bund yield rose 1bp to 3.2% (above its 20D MA). The 2yr-10yr spread fell 0bp to -223bps (below its 20D MA), a new 3mths low.

Outside the euro zone, the FTSE 100 jumped 1.48% to 5244.06. Basic Resources, banks and oil & gas shares gained most in London yesterday. BHP Billiton soared 3.14% to 1973.5p and BP 2.24% to 588.2p.

In Switzerland, the SMI gained 0.88% to 6497.66. Credit Suisse added 3.77% to SF47.64 and Nestle 0.9% to SF50.6.

European markets should start the day on a positive note following Wall Street’s strong gains last night.

Market Report as of 15th February 2010

FOREIGN EXCHANGE U.S. Dollar fell slightly against most of its major counterparts except against the euro. On the economic data front, U.S. initial jobless claims fell by 43,000 (more than expected) to 440,000 in the week ended February 6th according to the Labor Department.

The Euro slumped against its major counterparts despite a declaration from the EU president that a deal has been reached to bolster Greece. Indeed, no direct aid will be delivered to Greece but European governments stand ready to assist the country if needed according to Herman Van Rompuy.

The Canadian Dollar was firm against its major counterparts. Canadian new-home prices rose 0.4% in December (vs. +0.3% expected).

The Japanese Yen was mixed against its major counterparts.

Market Report as of 15th February 2010

EUROPEAN MARKETS The DJ Euro STOXX 50 lost 0.74% to 2680.25. Stocks from the auto, bank and construction sectors lost ground. Whereas stocks from the basic resources, energy and personal & household goods sectors rose.

52% of DJ STOXX 600 stocks traded higher yesterday. 20% trade above their 20D MA vs 14% Wednesday (below the 20D moving average). 66% trade above their 200D MA vs 67% Wednesday (below the 20D moving average).

The DJ Euro Stoxx 50 Volatility index eased 0.15pt to 29.11.

The 10yr Bund yield rose 5bps to 3.2% (below its 20D MA). The 2yr-10yr spread fell 3bps to -219bps (below its 20D MA), a new 3mths low.

Outside the euro zone, the FTSE 100 closed up 0.57% to 5161.48. Insurance shares gained most in London yesterday. BHP Billiton gained 2.42% to 1901.5p and Royal Dutch Shell B 2.03% to 1685.5p.

In Switzerland, the SMI gained 1.1% to 6403.42. Roche added 2% to SF178.5 and Nestle 1.33% to SF49.69.

European markets should start the day on a positive note.

Market Report as of 12th February 2010

US MARKETS U.S. indices jumped on Thursday boosted by semiconductors and automobiles sectors. On the economic data front, U.S. initial jobless claims fell by 43,000 (more than expected) to 440,000 in the week ended February 6th according to the Labor Department.

84% of S&P500 constituents traded higher yesterday. 30% trade above their 20D MA vs 15% Wednesday (below the 20D moving average). 78% trade above their 200D MA vs 76% Wednesday (below the 20D moving average).

The VIX index eased 1.44pt to 23.96. The spread VIX-VXN closed at a new 3mths high at 0.53.

The 10yr yield rose 2.6bps to 3.72% (above its 20D MA). The 2yr-10yr spread fell 3.7bps to -285bps (below its 20D MA).

Market Report as of 11th February 2010

FOREIGN EXCHANGE U.S. Dollar rose slightly against most of its major counterparts on Wednesday helped by Federal Reserve Chairman Ben Bernanke’s comments on timing of the end of record-low interest rates. On the economic data front, the trade deficit in the U.S. unexpectedly widened to $40.2 billion in December from $36.4 billion in November according to the Commerce Department.

The British Pound fell against its major counterparts pressured by Mervyn King’s comments on BoE bond buys. “Although the MPC (Monetary Policy Committee) last week announced a pause in its program of asset purchases, it is far too soon to conclude that no more purchases will be needed,” King said at a news conference.

The Japanese Yen was mixed against its major counterparts.