ISX opens week with 0.9% up

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) opened this week with a 0.9% increase to close at 123.2 points as rates of shares of 26 out of a total 45 traded firms went up, apparently not negatively affected by Friday’s mass protests all over Iraq. “A total 1.406 billion shares worth 2.373 billion Iraqi dinars (roughly $1 million) exchanged hands today (Feb. 27) through 683 trading deals,” according to an ISX news bulletin received by IraqiNews.com news agency. Rates of shares of twenty-six firms went into the green, six in the red while 13 retained their previous levels. Non-Iraqi investors obtained 132 purchase deals worth 612 million dinars, nearly 25% of the overall trading, mostly over the banking, industrial and hotel sectors, and only one sale deal wroth 2.4 million dinars over the hotel sector. The banking sector took the lead with 60% of the overall trading activities through 342 deals worth 1.424 billion dinars over 13 firms, followed by the industrial sector with 20% through 206 deals worth 491 million dinars over 15 firms and the hotel sector with 9% through 33 deals worth 211 million dinars over five firms. Trading was modest over the agricultural, service, insurance and investment 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 holds five sessions from Sunday to Thursday. AmR (TS) 748