Iraq’s stock exchange registered heavy sell-offs in June amid the growing violence in the country. With the exception of five names, all stocks ended the month in the red.

Financial and tourism-related sectors were hit the hardest, with monthly losses of up to 36 per cent.

The market’s top losers were: Kurdistan International Bank, which was down 36.6 per cent; Middle East Bank with a loss of 35.5 per cent; Iraqi Carton Manufacturies, down 26.15 per cent; Ishtar Hotels, at 25.9 per cent; and United Bank, which fell 24.5 per cent.

The only stocks that did not post losses were: Gulf Commercial Bank, up 2.8 per cent; Ahliya for Insurance, rising 2.2 per cent, Union Bank of Iraq, up 1.9 per cent; and Modern Construction Material Industry and Babylon Hotel, which both remained unchanged from May.