Market News

– The CEO of Iran Fara Bourse announced the launch of M&A platform in IFB’s third market, following President Rouhani and the Minister of Economic Affairs and Finance statements on the government decision to divest extra assets of Iranian banks and insurance companies via providing the IFB with the list of total divestible assets to pave grounds when probable buyers are known. The platform seeks the goal of accelerating divesting companies and will improve transparency in Iran’s economy.

– The below table demonstrates latest stats of Iranian Islamic Treasury Bills Market. As can be seen, the recent CBI rescue package had a prominent effect on Iran’s Debt market pushing up the yield in all 17 issues to more than 20%.

– On the sidelines of the Central Bank of Iran’s (CBI) AGM the other day, the bank’s deputy governor announced the setting of a new 19-section policy package for the money and forex markets. The decision to offer such a package seems to stem from concerns raised over lack of definitive monetary policies by the CBI in managing fluctuations and volatility in the forex market, which then pointed fingers to the CBI’s non-independence over the recently held the 7th conference on Monetary Policies and Challenges Ahead Iran Banking Sector and Production. Chairing the meeting, President Rouhani also spoke about the economic achievements of his administration and referring to their success in curbing the inflation rate, demanded the CBI continue its measures to maintain stability in Iran’s economy. He then stressed on implementing reforms required in banks’ assets structure to approach international standards and strict supervision to prevent the formation of any non-regulated credit/financial institutions.

In the Market

Names in the Automotive space went through rather positive trades. Saipa Diesel ticker was suspended due to not disclosing important information on time; this dragged the space into negative trades. Iran Tractor Casting was the only name going up more than 4%. Iran Casting Industries returned to the market with a sell queue at IRR 930 after a heavy negative EPS adjustment by 3,600% turning its estimated EPS to IRR 105 loss per share.

Elsewhere, the Metals and Iron Ore spaces witnessed balanced to negative trades mostly due to lower global metal prices. Iran Pipe & Machinery ticker was also reopened after disclosing information on its block trade, 2% higher at IRR 5,555. Iran Manganese Mine ticker listed on the latter returned to the market after clarifying important information on its production and sales 5.8% higher at IRR 5,210.

A positive sentiment dominated the Computer space with Parsian E-Commerce and AfraNet gaining more than 4% while the majority of tickers on the Cement industry shed prices in today’s session.

Source:

2018, Iran Fara Bourse launches the first M&A platform!, Monday, March 5, p.1,<https://agahgroup.com>