Iran to become a full-time FATF member soon!
By Mojde Rezaee
* Believing that Iran will succeed at satisfying the requirement to become a full time member of the FATF, the governor of the Central Bank of Iran stressed that with the planning and actions taken, Iran will manage to achieve the set standards until May, which is then hoped to lead to the FATF taking other steps. He again stressed out that such regulations will not ask for the sharing of sensitive information by the Iranian party; rather it sets guidelines and ensures that Iran will prevent money laundering within the banking system.
* According to its Managing Director, the London branch of Bank Sepah managed to resume its activities, including conducting credit operations and presenting short term facilities for Iranian companies and projects in the post sanctions era.
In the Market
The rise in the US oil reserves by 8.2 mn barrels and doubts about the revival of the oil giants to reduce production in the second half of 2017 dragged oil prices to $50 level and below; the $50 level is known as an important support level. Among companies in the Oil Products space, Isfahan Oil Refining and Tabriz Oil Refining faced sell queues at the final hour. Besides, Lavan Oil Refining ticker was reopened at IRR 11,947, shedding 4%; it eventually ended at IRR 11,684, dropping 6.1%, being affected by the negative atmosphere dominating the group.
Being reopened in the previous session, Polyacryl in the Chemicals industry started the session with a 96 mn share sell queue. Fars Chemical Industries and Pardis Petrochemical, on the other hand, gained the most with +3.75% and +2.98%, respectively.
Names in Banking group went through rather balanced trades, led by Bank Mellat (+1.63%).
Most tickers in the Automotive group went through negative trades, although names in the spare part mfg. area witnessed a rise in demand; Iran Tractor Motorsazan finished in the +4.6% zone while Nasir Machine Engineering closed in the +3% area. The 56% block trade of Saipa Diesel, worth IRR 300 bn, was sold at IRR 200 per share.
All symbols in the Iron Ore group were warmly demanded, led by Gol-e Gohar Mining and Industrial (+0.42%). Bama and Iran Zinc Mines Development went up 3% while Chadormalu Mining and Industrial and Iran Manganese Mines went through balanced trades closing in the +0% zone.
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