Iraq Stock Exchange volumes decreased 67% in July

Iraq's struggle to form a government four months after the parliamentary elections has challenged Iraq's stock market, where volumes decreased by 67 per cent in July.

According to Rabee Securities, factors such as Eid Al Adha holidays, current political deadlock, and protests in Iraq, all contributed in the weak month trading volumes.

Despite this bleak picture, we have seen an increase in foreigners trading which represented 16.6 per cent in July compared to previous month according to the brokerage house.

Figures show that 35.5 per cent of volume trading was related to the banking sector, followed by the telecom sector at 18.7 per cent, then the industry sector, representing 17.0 per cent of the total trades.