On: Sun 01/01/2012 19:05
Citizen - the follow-up
Expected to increase foreign interest in Iraq's fledgling stock exchange next year after the main index jumped more than 30 percent this year and investors say that the current political crisis that could fuel sectarian conflict will not discourage them. But foreign investors who have registered net purchases in the local bourse this year and bought shares worth 150 million dollars they say that the political unrest and security concerns did not significantly affect the appetite in the Iraqi Stock Exchange.
Sharif said Salem's (UAE's Gulf News), a portfolio manager at Abu Dhabi Investment Authority, which invested $ 18 million in Iraqi Stock Exchange since November 2010 he was still interested in the Iraqi market and the outlook will not change because of what is happening now. He added that the company is counting on further investment of money early next year when the market opens. The Iraqi Stock Exchange held last trading sessions on 20 December. The total number of shares traded this year's 492 billion worth of $ 753 million, compared with 255 billion shares worth $ 377 million in 2010, according to stock exchange data. Foreign investors bought 7.82 billion shares worth $ 150 million and sold 7.18 billion shares worth 7.41 million dollars.
Said partner Paul Bartel in Northern Gulf Partners, which manages the fund Iraq 1 partners to invest the company's "Iraq will become the fastest growing economy in the world during the next decade and we expect to be reflected on the listed companies in the country." "It undoubtedly will continue to record net foreign purchases in Iraq in 2012. Where can investors find that the leading economic growth and wealth of resources at the post-war? ".
Although the Iraqi Stock Exchanges is very small compared to other regional and global has proven to be more robust in the face of the global economic slowdown as it was one of the few stock markets that offer enormous opportunities for growth.
The Iraqi Stock Exchange index closed at 03.136 points in the last trading session in 2011, up 7.34 percent from its level in the last trading session in 2010 of 98.100 points.
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