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Iran: Stocks Mildly Higher as Trade Prospects Dim

Iran: Stocks Mildly Higher as Trade Prospects DimIran: Stocks Mildly Higher as Trade Prospects Dim

Tehran stocks budged forward on Wednesday with gains in auto stocks offsetting doubts over commodity and petrochemical stocks.

As auto stocks were lifted by hopes over possible price rises, commodity stocks which had boosted the markets on Sunday and Monday were overshadowed by the grim global scene.

Global stocks fell on Wednesday after concern over US-China trade relations and worrying signals of economic health from the US bond market fuelled a sell-off on Wall Street overnight. 

China’s commerce ministry said on Wednesday it was “confident” that a trade agreement with the US could be reached “within 90 days”, in Beijing’s first acknowledgment of the three-month deadline set by Trump. But on Tuesday night in the US, Trump wrote on Twitter: “We are either going to have a REAL DEAL with China, or no deal at all — at which point we will be charging major Tariffs against Chinese product being shipped into the United States.”

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