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Article: ISX thrives on elections, relocation: housed in new quarters, the Iraqi bourse is trading with renewed optimism.(Capital markets: Iraq)(Iraq Stock Exchange)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 18, 2005
- Author:
CopyrightCOPYRIGHT 2005 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The first two months of the year have been promising for the fledgling Iraq Stock Exchange (ISX). After a two-week suspension over the new year to settle financial accounts, the bourse reopened for business on 9 January in optimistic mood. Helped by a move to a new temporary location in the Al-Arafat district of Baghdad and by the relatively smooth elections on 31 January, investors have been steadily growing in confidence.
Trading among the 70 listed companies, while still thin, is gaining momentum. On 2 March, the total value of shares traded reached almost ID 8,000 million ($5.5 million), the highest figure recorded for five months, while the majority of firms ...