- Issuing a statement in defense of cooperation with the Financial Action Task Force (FATF) based on the unanimous consensus of all members, the High Council of Anti-Money Laundering announced that fulfilling the demands of the international body will be in harmony with the country’s interests being compatible with the regulations which have been implemented in Iran so far. In order to relieve the public and authorities of concerns regarding the disclosure of the country’s financial affairs, it was also stated that FATF only concerns itself with policies, rules, regulations and procedures and will not engage in the collection of data related to transactions and deals. In this regard, the Minister of Economic and Financial Affairs has also stressed Iran’s readiness to cooperate with this international body, albeit based on a few conditions, one of which to be the description of terrorism offered by western countries.
- According to the head of Iranian Mines and Mining Industries Development and Renovation, Iran is going to sign 4 contracts with leading carmakers by early 2017. Stressing on the necessity of using the regional markets, Mr. Moazemi stated that carmakers entering Iran, including Citroen and Peugeot should export 30-40% of the manufactured cars in the country.
In the Market
Most tickers in the Automotive industry went through positive trades. Saipa Group (Khesapa) was titled as the highest volume traded share after more than 72 mn shares traded. The CEO of Khesapa announced the negotiations with Nissan and Kia in the next week. Iran Khodro Diesel (Khavar) went up 2% after trading more than 23 mn shares; more than 69% of its trades conducted by institutional investors. Zamyad (Khezamya) ended in the +0% area; besides, 23 mn of its shares were block traded in the retail market.
Names in the Oil Products group started the session strong and some faced buy queues. The more we approached the final minutes, however, the more selling pressure was felt such that except for Shetran, Shebandar and Sheraz, the rest ended in the red. Bandar Abbas Oil Refining (Shebandar) was named as the highest value traded share and closed in +3% zone; 4 mn of its shares were block traded in the retail market. After 2 consecutive sessions with a buy queue, Tehran Oil Refining (Shetran) faced a 5 mn share buy queue at the early minutes; 28 mn shares changed hands with 73% individual sellers and it was named as the highest volume traded share.
The majority of names in the Metals space ended in the red. Esfahan Steel (Zob) topped the sector in terms of the highest volume traded (7 mn). Iran Pipe and Machinery Mfg. (Faloule) lost 4% and Calsimin (Fasmin) reached its low and also faced a sell queue. National Iranian Lead and Zinc (Fasorb) also shed 2% while Arfa’ Metal and Steel (Arfa’) gained 1% in price. Today, the CEO (also the chairman of the board) of Bank Sepah stressed on more collaboration with Esfahan’s Mobarake Steel (Foolad) aimed at facilitating banking relations with foreign counterparts; he also stated that the bank’s branches have become activated in Europe and expressed hopes over cooperation with Foolad regarding financing the required raw materials and equipment as well as opening LCs in different export areas.
Following the market momentum, symbols in the Computer sector went through positive trades; companies such as Iran Arqam (Marqam) and Informatics Services (Ranfour) closed with buy queues.
Nearly all names in the Banking space ended beneath their flat lines. According to the deputy economy and financial affairs minister, the general meetings of banks will start to be held since the upcoming week, referring to the agreement between the Auditing Organization, the Central Bank of Iran and banks.
TSE at a Glance
Summary of Trades
Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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