Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd October 2019).
Note: The government declared a curfew on Thursday in Baghdad. There was no internet and the stock market was closed. Next trading day will be on Sunday, October 6.
The RSISX index ended the week at IQD635 (+0.7%) / $682 (+0.6%) (weekly change) (-3.7% and -3.9% YTD change, respectively). The number of week traded shares was 2.6 bn and the weekly trading volume was IQD1.8 bn ($1.5 mn).
ISX Company Announcements
- In light of the strategy of the Central Bank of Iraq (CBI) to achieve financial inclusion, and improve digital banking services, and modern technologies, to ensure easy access to those services provided to different segments of society, the bank directed all licensed banks to provide mobile phone application service (Mobile Banking), which ensures the facilitation of banking service and ensure the availability of protection and confidentiality systems for them, to be implemented within a specified period of time from the date of issuance of instructions from the CBI. (CBI)
- Commercial Bank of Iraq (BCOI) decided to distribute 3.8% cash dividends (IQD0.038 cash dividend per share, 7.9% dividend yield) in its AGM that was held on Oct. 2, 2019.
- ISX will suspend trading of Cihan Bank for Islamic & Finance (BCIH) starting Oct. 8, 2019 due to the AGM that will be held on Oct. 12, 2019 to discuss and approve 2018 annual financial statements.
- Union Bank of Iraq (BUOI) will hold an AGM on Oct. 7, 2019 to discuss and approve 2017 annual financial statements. The bank has been suspended from trading since Aug. 6, 2017 due to not disclosing 2016, 2017 and 2018 annual financial statements.
- ISX requested Mosul Bank for Development& Investment (BMFI) to provide AGM minutes for its meeting held on Sep. 29, 2019 in order for the company to resume trading.
- Baghdad for Packing Materials (IBPM) resumed trading on Sep. 30, 2019 after discussing and approving 2018 annual financial statements.
- ISX suspended trading of Commercial Bank of Iraq (BCOI) starting Sep. 29, 2019 due to the AGM that will be held on Oct. 2, 2019 to discuss and approve 2018 annual financial statements.
- Ready-Made Clothes (IRMC) and AL- Kindi of Veterinary Vac. (IKLV) resumed trading on Sep. 29, 2019 due to disclosing their 2018 annual financial statement.
- Iraqi Date Processing and Marketing (IIDP) and Al-Zawraa for Financial Investment (VZAF) resumed trading on Sep. 29, 2019 after discussing and approving 2018 annual financial statements.