The SEO Hit One Target
* As the result of the signed MOU between Securities and Exchange Organization of Iran and the Regulatory and Supervisory Authority of German Financial Market, BaFin, in September 2016, a German delegation attended Tehran to take part in a 2-day workshop in February 7 and 8th. This workshop covered areas, including market transparency, trade surveillance and liquidity in banks. On this workshop sidelines, the two parties also discussed ways to expanding bilateral cooperation.
* In a meeting with Iranian ambassador present, the financial minister of Norway announced their readiness for stepping in to solve Iran’s banking problem, strengthening bilateral economic cooperation as well as starting negotiations to reach an agreement on avoiding double taxation.
* An agreement was signed between the Central Insurance of Iran and the Central Bank of Armenia to create a legal basis for expanding cooperation in insurance and re-insurance services and providing insurance coverage for their citizens.
* Comparing oil and condensates export amount in the 5 months of 2013 (1.2 mn bpd) with those obtained in the past 4 months (2.8 mn bpd), the Oil and Gas Minister announced that phases 17-21 of Pars- Jonoubi Field will officially start working in March and 10 major oil equipment are planned to be built in the country, which are estimated to reach Iran’s oil income to $45-50 bn in the next Persian calendar year.
In the FY ended 21 December 2016, Polyacryl Company has made IRR 295 loss per share, posting a 2% increase compared to the same period last year.
In the Market
Most symbols in the Transportation group closed above their flat lines with Tuka Transportation and Petrochemical Transportation finishing in the +4% zone. Rail Seir-e Kosar (+3.91%) and Rail Pardaz-e Seir (+1.41%) also ended in the green with Tuka Rail (-0.74%) and IRI Shipping Lines (0.1%) closing in the red.
Half names, mostly petrochemical ones, in the Chemicals industry ended above their flat lines led by Kharg Petrochemical (+3.73%) and Shazand Petrochemical (+3.52%). Fanavaran Petrochemical (+2.1%) and La’abiran (+4.83%) also ended in the green.
Nearly all names in the Automotive industry were negatively traded except from tickers in the spare part mfg. field like Ravanfanavar Industrial Engineering (+2.92%) and Nasir Machine Engineering (+0.16%). Iran Khodro Diesel (-0.09%) was still faced with a sell queue. Iran Khodro Industrial Group announced that 6 of its products have received the EAC certificate which enables them to export them to the Commonwealth of Nations companies and enjoy tax exempt; Iran Khodro (-1.98%) eventually closed in the red with 5.3 mn of its shares block traded in the retail market.
Statistics show that parties to the agreement to reduce oil production by 1.2 mn bpd have remained faithful by 90%. Nearly half names in the Oil Products space ended in the green led by Bandar Abbas Oil Refining (+1.87%).
In line with commodities’ price hike in international markets, the related companies went through positive trades of which National Iranian Copper Industries (+4.7%) and Calsimine (+4.99%) can be named.
Some market practitioners believe that zinc will increase its price in a rational manner; this pushed most tickers in the Iron Ore industry, including Bama, Iran’s Zinc Mines Development and Bafq Mines closing with buy queues.
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