{"id":6031,"date":"2018-10-23T07:47:26","date_gmt":"2018-10-23T07:47:26","guid":{"rendered":"http:\/\/en.azpar.com\/?p=6031"},"modified":"2018-10-24T07:54:45","modified_gmt":"2018-10-24T07:54:45","slug":"parallel-investment-markets-changes-course-in-iran-economy","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=6031","title":{"rendered":"Parallel Investment Markets changes course in Iran Economy!"},"content":{"rendered":"

Market News<\/h2>\n

\u2013 The first month of 1397 Q3 is now ending with s change of course between parallel investment markets of Iran Economy. After the unexpected\u00a0and truth be told unproductive advances on\u00a0FX\u00a0and\u00a0Gold coins\u00a0markets during the last couple of months, now analyses show that the stock market\u00a0precessed other rivals and delivered handsome returns over Sep\/Nov 2018.\u00a0Tehran Stock Exchange\u00a0has yielded 17% while USD\/IRR stamped -3.4% (a bearish course after 15 months!) and gold coins performed only -2.4%.\u00a0<\/span><\/p>\n

\u2013 The Chinese\u00a0Bank of Kunlun, an old partner with Iran in terms of financial transactions and credit lines, warned its customers that all the relations with Iranian counterparties will be halted from October\u00a030 in the wake of upcoming US sanctions. The bank asked its customers to complete and settle all their Iran related FX remittance orders.<\/p>\n

\u2013 Just days short of the new wave of US sanctions, Iran changed its financial messaging services from SWIFT to SPFS, a Russian analogue made exclusively to circumvent United\u00a0States sanctions. Moreover, CBI is considering to run a localized version of SWIFT,\u00a0whose acronym in Farsi is\u00a0SEPAM, in order to do financial transactions with the rest of the world.<\/p>\n

\u2013 Tomorrow, a new piece of\u00a0Islamic Treasury Bills\u00a0is to offer to the public on\u00a0Iran Fara Bourse. This issue worth IRR 23,000 bn (USD 547.62 mn \u2013 USD\/IRR @ 42,000) and will be matured on August 03, 2020. Counting this new one in, there is 26 outstanding issue of ITB as of today in\u00a0Iran Debt Market.\u00a0The following\u00a0table shows the details:<\/p>\n

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In the Market<\/h2>\n

The stock market retracted from its previous high today in the wake of H1 performance reports. Despite better than expected semi-annual financial statements, the participants were not quite satisfied and chose to add up the sale pressure right from the opening bell.\u00a0TEDPIX (-1.31%)<\/strong>\u00a0fell for more than 2,400 points while the\u00a0IFEX (+0.13%)<\/strong>\u00a0managed to win the session on the thin ice.<\/p>\n

Metals (-2.55%), Iron Ores (-3.76%)<\/strong>\u00a0and\u00a0Utility (-4.52%)<\/strong>\u00a0had the most negative effect on today\u2019s market. Most of the giants in said sectors had their H1 profits tied to FX rate translations and not the real production, therefore faced with massive supply form early morning and closed at their bottoms. However, analysts believe that\u00a0investors has overreacted\u00a0today and the fundamentally sound tickers will find their bullish trend once again. Moreover, the market has monthly performance reports right after this and those financials can be a game changer some TSE or IFB tickers.<\/p>\n

Any good or bad news on the following subjects can have massive effects, either way, on medium to large-cap companies in different sectors:<\/p>\n