Iran-China signed for Trade Credit Insurance
– A memorandum of understanding has been signed amid Iran central bank and “Sinosure”, a Chinese Trade Credit Insurance company, giving guarantee on facilities that will capitalize future Iranian construction and production projects. In a meeting with “Sinosure” executive director and the deputy governor Iran Central Bank, ensured that the Chinese credit lines will be open to Iranian state owned companies in times of utilizing funds from China.
– Tehran Stock Exchange stamped the highest weekly performance amid its international peers. According to the TSE officials, with a 1.8% advance, Tehran Stock Exchange stood above giants like Hong Kong, Wall Street and LSE. Moreover, in the number of most green days, TSE is placed the first since begging of the new Persian year as well.
Tehran Stock Exchange Major Averages Close the day lower!
In the Market
The TEDPIX (79,963, -0.22%) could not hold on to its record high and after a series of winning strikes, had its hand over the head finally. The major average of Iranian capital market dropped for more than 170 points and reentered the previous channel of 79,000. Meanwhile, the IFEX (916.90, -0.61%) also settled with modest loss.
Despite some minor advances on oil price globally, the “Oil Products” and “Chemicals” sectors showed relative weakness over today’s affair. It seems that uncertainties towards the future political climate after the end of the week election is affecting the market and waved a pulse of “hold the ground” sentiment on investors’ taste.
Auto has the most traded shares, in number and value, on today’s session. Early morning the orange giant, “Saipa (SIPA1, -0.38% IRR 1,309)” aimed to record a “dip in blood” day for TSE, yet towards the end, with a little help from its major institutionals, the ticker moved up a bit. Near 100 mn shares of the sector’s leader changed hands to make Sipa the most traded and have the highest trade value. Almost all the others chose to follow the leader.
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