ISX down to lowest rate in 2010

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) plummeted to its lowest rate in 2010 at 90 points after several firms, particularly industrial ones, failed to rise to investors’ expected ambitious profits. Total shares traded this week exceeded 1.7 billion worth 2.8 billion Iraqi dinars (roughly $2.4 million) through 1318 deals with non-Iraqi investors obtaining 80 purchase deals worth more than 150 million dinars, mostly over the banking, service and industrial sectors. The ISX index went down during the first three sessions this week by 0.5% to nosedive to 90%, the lowest this year, although it went up slightly 0.2%  at the end of the week to close at 90.2%. 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, 2009, 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