Stock rally picks up pace in Tehran

Financial Tribune – A rally in Iranian stocks picked up pace on Tuesday, following the lead of commodity shares as nine-monthly reports of refinery, petrochemical and metals companies was interpreted by investors as a sign of bolstering corporate activity.

Another factor boosting investor sentiment was the stability in world stocks after they were hit by a bout of volatility toward the end of 2018. An index of world stocks rose on Monday, adding to Friday’s strong gains, on optimism about the outcome of trade talks between Washington and Beijing.

Growing bets that the US Federal Reserve will halt its multi-year rate-hike cycle sent the dollar lower across the board, while rising equity markets and support from OPEC production cuts helped lift oil prices.

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