Epstein Secrets

ding European Sectors: Oil & Gas +1.37%, Construction +1.23%, Technology +1.10% Lagging European Sectors: Food & Beverage -0.14%, Healthcare -0.08%, Utilities +0.06% NLY declares 65c Q2 div - GES chairman to retire - MSY LN gets prelim approach LEA increases credit facility - ACW acquires Forgitron tech -

ALTH, BEXP, IDSY, IOC, LSE, BB?, LBTYA, PPD, RVM, APP, NSM Equity/Mixed Shelf s: BKH, CP (C$1.5B) Other Newspaper Articles & Stories WSJ cautious: Gazprom (OGZD LI) WSJ<http://online.wsj.com/article/SB10001424052702304070104576397893650631056.html> Feds Sue Bankers Over Fall in Bonds WSJ<http://onlin

xtended to 5th qtr Leading European Sectors: Autos/Parts +0.64%, Real Estate +0.13%, Telco -0.12% Lagging European Sectors: Basic Resources -1.35%, Utilities -1.07%, Healthcare -0.73%, Fin Services -0.63% CYTK successful drug trial - ZQK revs up - CASC profit almost triples ELRC ups dividend - SAP priva

.htmlftaxzzlNsx1DoaE> Cairn seeks Greenpeace injunction FT<http://www.ft.com/intl/cms/s/0/05a9a3ea-8d49- 11e0-bf23-00144feab49a.htmliaxzzlNsx1DoaE> Gazprom seals deal to supply LNG to India FT<http://www.ft.com/intl/cms/s/0/97996190-8d13-11e0-815d-00144feab49a.htmlftaxzzlNsx1DoaE> News Corp closes in o

and electricity tariff hikes Types of =upport for the sector from the government Healthcare: no =urprises Telecom: =owards the end of the tunnel? Utilities: a =alancing fund to manage the transition Commodities: as =ood as it gets for OPEC Disclosures Research =nalysts lean-Michel Saliba MENA Econom

a is one of the =orst performing markets in 2017. Under-positioning and fundamentals =etting better Long equal =eighted basket of Russian Oil names: Gazprom, Lukoil, Rosneft 07/11/2017 22/02/2018 98.95 113.04 We think we are entering a period of =ncreasing volatility into the Italian Elections (4th M

gure 17: EM versus DM by sector — P/BV (x) and RoE (%) Sector Financials Energy Materials Consumer Discretionary Consumer Staples Industrials Utilities Telco Information Technology Healthcare AGGREGATE EM P/BV (x) EM ROE (%) 1.46 0.94 1.35 2.24 3.82 1.47 1.06 2.39 2.08 3.90 1.59 13.8

f Pharamstand and the tariff freeze which was imposed on the utility sector. Going forward, there are major risks for the big state owned banks and Gazprom if the economy continues to deteriorate, since these companies will be under an obligation to help the state fulfil its social obligations, regardl