ISX in for fresh start this week with 1% surge

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) index went up by 1.16%, the first rise after a series of downs during the past fortnight, to close at 93.9 points as shares of 25 out of a total 37 firms plunged. Today’s session saw the shares of 37 out of 81 electronically-registered firms exchanging hands; the rates of 25 of them went up, three down and nine retained their figures made during the previous session. The traded stocks hit 405.9 million worth 766.6 million Iraqi dinars ($655,000) through 304 deals, two of which went of non-Iraqi investors at 1.5 million shares worth 3 million Iraqi dinars over the banking and industrial sectors. The banking sector came in the lead with 75% of the total trading through 176 deals over 15 banking firms, followed by the hotel sector with 13% of the trading through 51 deals over eight hotel firms. Scant trading activities were meager on the industrial sector (42 deals over six firms’ shares and the service sector (29 deals over five firms’ shares). The ISX witnessed its first e-trading session on April 19 over five registered companies, three banks and two hotels. The banks were: Ashur International Bank (AIB), Al-Mansour Bank and the Iraqi Credit Bank while the hotels were: Ashtar Hotel and Al-Mansour Hotel. On June 7, the Iraqi Middle East Investment Bank and the Warka Bank joined the electronic trading sessions. The ISX now holds five sessions from Sunday to Thursday. AmR (S)/SR 1