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Code: 51941 Visited: 198 Publish Date: Sep 25 2018 - 3:14
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Capital Market
Markets’ Rally Continues
Tehran, Sep. 25 (SENA) - In the first 30 minutes, TEDPIX, Tehran Stock Exchange’s main benchmark, surged 4,000 points, passing the 173k level.

Tehran, Sep. 25 (SENA) - In the first 30 minutes, TEDPIX, Tehran Stock Exchange’s main benchmark, surged 4,000 points, passing the 173k level. The growing trade value in recent days had signaled such phenomenal growth, which seems to remain appealing for investors for the time being. Ferrous metals, refineries, and telecommunications were the leaders of growth. Mobarakeh Steel Company and Golgohar Mining Company were the biggest contributors to TEDPIX’s soar. Meli Cooper Company and Tamin Petroleum & Petrochemical Investment Co. attracted the highest demand.

The markets seem to be under influence of UN’s Annual General Assembly. The outcome of the negotiations of Iran with other countries is crucial. Last night, The Foreign Minister Javad Zarif had a meeting with Federica Mogherini, where she emphasized on EU’s commitment to JCPOA. Mogherini ensured that Iran’s oil export and banking relations with the world will continue.

OPEC members, on the other side, agreed on not increasing the current production levels that pushed the Oil prices to the four-year high of $80 per barrel. Many experts suggest that if the US tries to push Iran’s oil exports to lower than one million barrels per day, the prices will surpass the $100 level, seen last in 2014.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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