Tag Archives | ISX

The latest ISX Iraq Stock Exchange news – banks, capital, investors and more – brought to you by Iraq Business News

Zain Iraq Applies for Share Listing

By John Lee. Zain Iraq has applied for a listing on the Baghdad stock exchange (ISX). As part of their 15-year licences awarded in 2007, Iraq’s three mobile network operators — Zain, Asiacell and Korek — were required to float at least a quarter of their shares and join the Iraq Stock Exchange (ISX) by […]

Blessings in Disguise for Iraqi Stock Market

By John Lee. The continuing war against the Islamic State (IS, ISIS, ISIL), coupled with the decline in oil prices, have reportedly made Iraqi regulators and government more receptive to reforms that would strengthen the economy and the stock market, according to an article in UAE-based The National. Shwan Taha, head of Rabee Securities, has […]

NASDAQ Launches New Tech for ISX

By John Lee. Nasdaq and the Iraq Stock Exchange (ISX) have announced today the successful on-schedule go-live of the X-stream Trading technology, which replaced the existing Horizon platform. Nasdaq has delivered trading technology to ISX since 2007. The X-stream Trading upgrade provides ISX with a widely deployed high-end, multi-asset trading platform that complies with international […]

Banks Signal Drop in Iraqi GDP

By Mark A DeWeaver. As of November 6, 18 of the 21 ISX listed banks have reported third quarter earnings. The numbers aren’t pretty. Rabee Securities’ latest corporate profits report shows bank-sector aggregate profits for the first nine months down 17% year-on-year. Taking out BUND, an obvious outlier with earnings growth of 115%, the decline […]

Rising Yields a Plus for Stocks

By Mark DeWeaver. Falling prices and higher dividends have led to a jump in ISX dividend yields this year. As of September 30, Rabee Securities’ RSISX index was yielding 4.5%, up from 1.5% in 2013 and 0.0% in 2012. Yields are also improving relative to local interest rates, which have been gradually declining. The RSISX […]

Bank Earnings Take a Hit

By Mark DeWeaver. It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of […]

Iraqi Stocks Bounce Back

By Mark DeWeaver. This week saw a dramatic turnaround in Iraqi stocks. Last Thursday’s selloff (see this post) accelerated into a mad dash for the exits on Sunday, with the RSISX losing 4.3% on virtually no advancing volume and 60% of the trading in limit-down stocks. On Monday the index fell another 3% to bottom […]

The Wrong Time to Panic

By Mark DeWeaver. Iraqi stocks held up surprisingly well for most of this week despite the dramatic loss of much of Northwestern Iraq to extremists. Even following the fall of Mosul on Tuesday, Rabee Securities’ RSISX index was down only 2.6% for the week by Wednesday’s close. And while the ISX index fell 3.3% on […]