FCB Market Watch

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Disclaimer: This material is "non-independent research". The UK Financial Conduct Authority (FCA) defines non-independent research as an investment recommendation that does not meet the conditions set out in article 36(1) of the MiFID Org Regulation. It is a "marketing communication" that has not been prepared in accordance with the full legal requirements designed to present objectiveness or independence of research and is not subject to any prohibition on dealing ahead of the publication or distribution of investment research. This material is for general information and may not be suitable for all recipients. Recipients who are not market professionals should seek independent financial advice prior to taking any investment decision based on this communication or for any necessary explanation of its content. First Capital Bank Limited (FCB) believes that the information and opinions in this report are accurate and complete. Information and opinions presented in this communication were obtained or derived from sources that FCB believes are reliable, but FCB makes no representations as to their accuracy or completeness. FCB and its employees cannot be held responsible for any errors and no liability is accepted for any losses, which may arise from the use of this information. Additional information on financial instruments or securities mentioned in the communication may be made available on request.

Financial Market and Economic Outlook