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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th Aug 2020).
The RSISX index ended the week at IQD653 (+4.2.) / $681 (+3.7%) (weekly change) (-0.9% and -2.9% YTD change, respectively). The number of week traded shares was 2.4 bn and the weekly trading volume was IQD2.0 bn ($2.0 mn).
ISX Company Announcements
- The ISX will organize the seventh Zoom meeting with Asiacell (TASC), and the eighth Zoom meeting with General Authority for Tourism, Ishtar Hotel (HISH) and Al-Karmal Brokerage Company for them to disclose financial results for the investors and participants. TASC’s meeting will be held on Friday (Aug. 14, 2020) at 4:00 pm (Baghdad time), and the speaker will be CEO, Amer Al-Sanna’ (For TASC’s Zoom Meeting Link please CLICK HERE, Zoom Meeting ID: 897 4292 2203, Password: 670430). The meeting of General Authority for Tourism, Ishtar Hotel (HISH) and Al-Karmal Brokerage Company will be held on Saturday (Aug. 15, 2020) at 4:00 pm (Baghdad time), (For the Zoom Meeting Link please CLICK HERE, Zoom Meeting ID: 853 4676 8319, Password: 253032). The participation will be free and the recording of the Zoom meetings will be shared on the ISX website.
- ISX suspended trading of Iraq Noor Islamic Bank (BINI) starting Aug. 12, 2020 due to the AGM that will be held on Aug. 18, 2020 to discuss and approve 2019 annual financial statements.
- Trans Iraq Bank for Investment (BTRI) resumed trading on Aug. 11, 2020 after being suspended for its AGM in which they discussed and approved 2019 annual financial statements and decided to distribute 0.758% cash dividends (IQD0.00758 dividend per share, 1.1% dividend yield).
- Al-Rebas for Poultry and Feed (AREB) with a capital of IQD30 bn started trading in the non-regular market on Aug. 11, 2020. The opening price will be free for the first three sessions, and then will have +/-20% price change limit.
- National Company for Tourism Investment (HNTI) resumed trading on Aug. 11, 2020 after being suspended for its GA in which they elected new board members that consists of 4 original and 4 alternative members.
- Zain Al-Iraq Islamic Bank (BZII) resumed trading on Aug. 11, 2020. It postponed its GA to elect 7 original and 7 alternative board members. ISX requested BZII to provide the new GA date within no less than two weeks to take needed procedures.
- ISX suspended trading of Al-Ameen Financial Investment (VAMF) starting Aug. 11, 2020 due to the AGM that will be held on Aug. 16, 2020 to discuss and approve 2019 annual financial statements.
Iraq again breaks daily COVID-19 record
Iraq broke its record for daily confirmed COVID-19 cases again on Friday.
There were 4,013 new cases on Aug. 14. The highest numbers were in the capital Baghdad, Erbil in the Kurdistan Region and Basra in the south, according to the Ministry of Health.
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No quick fix for Iraq’s Electricity Crisis
The heat wave in Iraq has raised the ire of citizens in the central and southern areas, pushing many to take to the streets once again.
The popular protests in the squares had settled down due to the coronavirus pandemic, but the searing hot weather and declining hours of electricity supply have forced the new government to once again face the protesters.