ISX opens week with slight down

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) index went down slightly in the beginning of the week with 0.2% to close at 94.2 points as 13 traded companies went into the green with non-Iraqis obtaining 33% of the total trading activities. “More than one billion shares worth 868 million Iraqi dinars (roughly $742,000) exchanged hands through 286 deals as rates of shares of 13 firms went up, 18 down and four retaining their previous levels,” according to an ISX news bulleting received by IraqiNews.com news agency. Non-Iraqi investors obtained 57 purchase deals worth 294 million dinars mostly over the banking sector as well as the service and hotel sector, nearly 33% of the overall trading. The banking sector took the lead with 38% of the trading session today (Nov. 7) through 70 deals worth 334 million dinars over nine firms, followed by the industrial sector with 33% through 138 deals worth more than 293 million dinars over 11 firms, the hotel sector with 19% through 30 deals worth 166 million dinars over five firms and the service sector with 60 million dinars through 31 deals over four firms. Trading was modest over the insurance, investment and agricultural sectors. 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