Markets in Brief 16.11.2018


Although this week SWIFT announced to have cut access of Iranian banks to its systems, including Iran Central Bank, later the US Treasury Office announced that four Iranian banks have been exempted from sanctions. These are Hekmat Bank, Middle East Bank, Mehr Iran Financial Institution and TOSSE-eh Credit Institute.

Tehran Stock Exchange passed a fluctuating week. Since oil and petrochemical companies have a great influence on its main index, TEDPIX, with the fall in oil prices, prices dropped also at these industries.

The effect of the return of sanctions is still to be clear. Saipa announced that its Chinese partner bank has decided to halt its cooperation with Saipa. Although the company says it will not affect its future plans for delivery of pre-sold cars.

Compare to a week ago, TEDPIX lost 3,106 points, equivalent to 1.68 percent. For tops and flops, see the chart above.