ISX trading up 1% this week

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) went up 1% this week to close at 95 points, compared to last week’s up 1.2% to close at 94 points, as trading activities exceeded six billion Iraqi dinars, spurred by investors’ optimism over the formation of a new government. Non-Iraqi investors’ ascending sentiments fuelled speculations about more slight ups soon. Their sale deals were only 14 this week worth 129 million dinars, mostly over the banking sector. “Trading went over 4.593 billion shares worth more than 6 billion dinars (roughly $5.2 million) through 1923 deals with non-Iraqis obtaining 276 purchase deals worth 1.160 million, nearly 19% of the overall trading this week,” according to an ISX news bulletin received by IraqiNews.com news agency. The ISX witnessed its first E-trading session on April 19, 2009 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) 1