HEDGENORDIC December 2016 – The old saying that you should invest when there is ”blood on the streets” could not be more telling than in the case of Iraq. The Iraq equity market has suffered under the extreme tensions linked to ISIS and has fallen by 55 percent...
After the market reached a multi-year low during the summer we saw a period of stability and a bottom pattern form during the third quarter. Local stocks generally traded sideways while the offshore-listed Iraqi oil and gas companies traded slightly lower. Iraqi bonds...
Positive results reported by Baghdad Soft Drinks FMG Iraq Fund has been investing in the Iraq Stock Exchange since 2010. One of our core holdings that we have held since inception is the remarkable Baghdad Soft Drinks, a PepsiCo International franchise. PepsiCo Inc is...
The Iraq Stock Exchange began the quarter on a very sour note, due to the general shortage of liquidity in the country and a continued selling pressure from local and foreign investors. However, the recovery in oil prices in 2016 is significant for Iraqi stocks as...
In short, we believe that we have seen the worst in Iraq. Much has improved, but not yet translated into higher share prices. So we believe that stocks are at/near the bottom and set for a recovery that will hopefully last a number of years. In detail:Iraq was hit by...
After a massive rally at the end of last year, the ISX turned sour and nosedived in tandem with oil prices and global stock market. Within the RSISX index almost no stock was spared during the quarter, with blue chips Kurdistan International Bank down -25%, Asiacell...
