FATF Continue its Suspension
– Having remained politically committed and taken the preliminary steps to apply the required reforms, Iran managed to convince the Financial Action Task Force to extend the suspension of counter-measures against Iran. Announcing they will be monitoring Iran’s progress in fully implementing this plan, this body added that Iran will remain on the FATF public statement until it has fully addressed and covered the deficiencies mentioned in the plan. In this regard, Iranian officials have also stressed that Iran has put efforts in aligning its internal regulations with the international community’s and this has led to an upgrade in its ranking defined by this organization.
– According to the report released by the Statistical Center of Iran, the CPI for urban areas reached 7.4% in the year ended June 21st; it was so while it hovered around 7.1% in the previous month. This rate also increased 8.5% for the rural areas, which was 8.1% in the month before.
In the Market
Iran Khodro released a note on selling the 16% block share of Iran Khodro Investment Development (4.91%) at IRR 6670, which pushed the Automotive space towards balanced and rather positive trades with Iran Khodro (1.18%) and Charkheshgar (1.16%) gaining the most. Iran Khodro Diesel ticker, however, was halted; the company has made IRR 940 loss per share for the FY ended 21 March 2017.
With commodity prices, especially zinc (+6%), going up, the majority of names in the Metals sector ended above their flat lines; Calsimine, Zangan Zinc Industry, Kimia-ye Zanjan Gostaran Mineral and Iran Mineral Processing closed with buy queues. Arfa’ Metal and Steel also closed at 3.89%; the company has released a note on offering a 5% block share at IRR 2850.
Such a positive sentiment was spread to most names in the Iron Ore group with Bama and Iran Manganese Mines gaining more than 4%, followed by Bafq Mines (3.54%). Iran Zinc Mines and Development ticker was reopened in the green area; it eventually finished 12.45% higher.
Nearly the whole Sugar industry settled with moderate gains, albeit Shirin Khorasan ended with a buy queue. Hegmatan Sugar (3.08%) and Qazvin Sugar (1.3%) were the next.
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