Systematic risks have caught up with the Iranian stock markets. Concerns regarding base metal prices, based on a stronger dollar and an escalating trade war between the US and China, sunk metal stocks' fortunes in Iran as its main drivers, augmented by the government's refusal to allow the sale of commodities at an exchange rate other than the enforced one.
Metal producers and miners were at the forefront of Tehran Stock Exchange and Iran Fara Bourse's speeding growth earlier this month and its decline in the last two weeks have all but sapped stocks of their strength to rebound.
Overall, TSE's all-share index TEDPIX, shed 1,728.5 points or 1.57% during the week that ended on July 181 to close at 107,776.6.
Iran Fara Bourse’s benchmark index, IFX, wiped 15 points or 1.2% to stand at 1,210.8.
July 20, 2018 19:22
0
Iran Stocks Bow to Systematic Risks
TSE’s all-share index shed 1,728.5 points or 1.57% during the week that ended on July 181 to close at 107,776.6, as Iran Fara Bourse’s benchmark index wiped 15 points or 1.2% to stand at 1,210.8
TSE’s base metals and mining indices have dropped over 8% and 10% respectively in the last 14 trading days
Add new comment