ISX opens week with 2.6% up

BAGHDAD / IraqiNews.com: The Iraqi Stock Exchange (ISX) opened this week on Sunday with a 2.6% up to close at 114.7 points as rates of shares of 19 out of a total 42 traded companies saw an increase, compared to the previous session’s 1.4% up to close at 111.8 points. “A total of 1.241 billion shares worth more than two billion Iraqi dinars (roughly $1.7 million) were traded in Sunday’s session through 551 deals,” according to an ISX news bulletin received by IraqiNews.com news agency. Eleven companies went into the red while 12 retained their previous levels with non-Iraqi investors obtaining 58 purchase deals worth more than 296 million dinars over the industrial, banking, hotel, insurance, service and agricultural sectors, 13% of the overall trading, and 26 sale deals worth 139 million dinars over the banking sector. The banking sector took the lead with 66% of the trading activities through 286 deals worth 1.320 billion dinars over 14 firms, followed by the industrial sector with 21% through 177 deals worth more than 426 million dinars over 14 firms, the service sector with 6% through 39 deals worth 128 million dinars over three firms and the hotel sector with 28 deals worth 126 million dinars over five firms. Trading was modest over the insurance, agricultural 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) 475