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Code: 52722 Visited: 52 Publish Date: Nov 03 2018 - 12:14
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Capital Market
Stock Market Shrugs Sanctions Off
Tehran, Nov. 03 (SENA) - The US has pledged to re-impose comprehensive sanctions against Iran unilaterally on 5 November, a move that has no support by the international community. The capital market practitioners argue that the move has barely any effect on the current capital market sentiment.

Tehran, Nov. 03 (SENA) - The US has pledged to re-impose comprehensive sanctions against Iran unilaterally on 5 November, a move that has no support by the international community. The capital market practitioners argue that the move has barely any effect on the current capital market sentiment.

They unanimously express that the Iranian economy has long been adapted to sanctions environment. “Iran has been facing sanctions in the past 20 years, so nothing new is being imposed. Even with the 100% growth of the markets in the past seven months, markets still have growth potential”, Said Farid Aghabozorgi, CEO of Bank Dei Brokerage Firm. However, International Director of Sepehr Investment Bank Mehdi Asima believes that the investors, in the past six months, considering possible risks, evaluated shares based on dollar situation and considered the fact that sale figures of some companies might be affected by the sanctions.

This is while many experts note that it takes more than a year to observe the true effects of the sanctions on the economy. “The markets are smartly adapting expectations according to the past experience and the future development,” added by Abolfazl Shahrabadi, Finance deputy of Lotus Investment Bank.

Many argue that refusal of European countries to follow US steps is the critical difference with the previous rounds of sanctions. “The involved risks are majorly mitigated by the European countries continuing their interaction with Iran,” Said Behrooz Khodarahmi, former secretary-general of Iranian Institutional Investors Association. Ali Saedi, former board member of SEO as well referred to the performance of the markets in 2012, when the sanctions were at the highest level, but markets were working properly.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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