ISX caps week with 0.2% down

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) index went down at the end of the week with a 0.2% down to close at 120 points as rates of shares of 10 out of a total 46 traded firms decreased, compared to the previous session’s 0.8% down to close at 120.4 points. “More than 1.638 shares were traded in Thursday’s session at 2.711 billion Iraqi dinars (roughly $2.4 million) through 649 deals. Prices of twenty-five firms’ shares increased, 10 down while 11 retained their previous levels,” according to an ISX news bulletin received by IraqiNews.com news agency. Non-Iraqi investors obtained 219 purchase deals worth 1.168 million dinars over the industrial, banking, service, hotels and agricultural sectors, making up to 43% of the total trading activities, and 30 sale deals worth 298 million dinars over the same five sectors. The banking sector took the lead with 62% of the overall trading through 308 deals worth 1.698 billion dinars over 14 firms, followed by the industrial sector with 25% through 209 deals worth 692 million dinars over 15 firms and the hotel sector with 4% through 27 deals worth 115 million dinars over seven firms. Trading was modest over the service, agricultural, investment and insurance 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 (TS) 427