ISX up 0.6% as week starts

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) opened this week Sunday with a 0.6% increase to close at 120.7 points as rates of shares of 13 out of a total 40 traded firms went up. The previous ISX session had closed at 119.7 points, down by 0.7%. “More than 2.949 billion shares worth 4.505 billion Iraqi dinars (roughly $3 million) were traded through 722 deals,” according to an ISX news bulletin received by IraqiNews.com news agency. Non-Iraqi investors obtained 242 purchase deals worth 1.564 billion dinars (34%), mostly over the industrial, banking, service and hotel sectors and 18 sale deals worth 79 million dinars over the banking, industrial and hotel sectors. Rates of shares of 13 firms went down while 14 retained their previous levels. The banking sector took the lead with 75% of the overall trading activities through 430 deals worth 3.379 billion dinars over 11 firms, followed by the industrial sector with 11% through 195 deals worth 508 million dinars over 12 firms and the hotel sector with 6% through 61 deals worth 290 million dinars over seven firms. Trading was modest over the hotel, 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 (TS) 527