Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd Mar 2017).
The RSISX index ended the week at IQ1082 (-0.9%) / $1110 (-0.2%) (weekly change) (+12.7% and +17.2% YTD change, respectively). The number of week traded shares was 26.9bn and the weekly trading volume was IQD15.2bn ($12.0mn).
ISX Company Announcements
- The CBI attributed the decrease in the exchange rate for U.S. dollar to IQD to applying the new system for the currency auctions that brings simplifications and transparency in the auctions and providing competition among banks by setting ratings for each of them. (Alsumaria, RS)
- Economy Bank for Investment (BEFI) will hold a GA on Mar. 8, 2017 to discuss increasing the capital and electing new BoD. ISX will suspend trading of BEFI starting on Mar. 5, 2017.
- Al-Ameen Estate Investment (SAEI) will hold AGM* on Mar. 6, 2017 to discuss and approve 2015 annual financial results. ISX suspended trading of SAEI starting on Mar. 1, 2017.
- North Bank (BNOR) replied ISX request on Mar. 1, 2017 to explain why the prices touched the higher limit. The bank said that because the CBI approved to resume the bank’s functions of issuing LGs, guarantees and participating in the currency auction.
- A cross transaction occurred on 21.1bn shares of Mosul Bank for Development and Investment (BMFI) on Feb. 27, 2017, which represents 8.4% of BMFI capital.
- Iraqi for Tufted Carpets (IITC) requested its shareholders to provide their identification papers and documents with the correct addresses otherwise the company may delay its dividend distribution.