Moshaveran Saham Brokerage Co.

17. Sep 2016

www.kmsco.ir+98-21 42906

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Daily Report - 17 Sep 2016Moshaveran Saham Brokerage Co.

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Daily Report - 17 Sep 2016Moshaveran Saham Brokerage Co.

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Today The Overall Index shed 350.47 points to settle at 76.104. Bahman Group Co. left the most positive effect on the TSE Overall Index, while Parsian oil and gas development Co. left the most negative effect on the overall index. Trades in food and sugar industry were in green zone. bearish trend still continues in automotive sector. Low-volume and negative trades were witnessed today in the sector. On the other side positive trades in construction sector were observed. In the base metal sector, Isfahan Steel Co (Zob) was at the center of investors attention because of national railway project. The ticker were positively traded today and ended market session in %+5 area. In the global economy, Sept 16 The possibility of a 14$ billion fine for Deutsche Bank and a slide in oil prices hit financials and energy stocks on Friday, leading most global stock indexes lower.U.S. data showing a strong increase in August consumer prices bolstered those arguing for the Federal Reserve to raise interest rates later this year, helping send U.S. Treasury yields and the dollar higher. Stocks fell as investors dumped shares of banks in North America and Europe after the U.S. Department of Justice proposed Deutsche Bank pay 14$ billion to settle an investigation of its selling of mortgage-backed securities.Deutsche Bank, whose shares dropped roughly 8.5 percent, said it would fight the demand. MSCI›s world stocks index was down 0.57 percent, on pace for a second straight weekly loss. Energy share prices were cut by a drop in oil prices as rising Iranian exports and returning supplies from Libya and Nigeria fueled concerns a global glut would persist. Brent crude was down 1.4 percent at 45.94$ a barrel, while U.S. crude was down 1.9 percent at 43.07$. «When oil goes down, investors get nervous about the risk of default in the energy patch,» said Thomas Wilson, senior investment manager at Brinker Capital in Philadelphia. The Dow Jones industrial average fell 66.63 points, or 0.37 percent, to 18,145.85, the S&P 500 lost 8.61 points, or 0.4 percent, to 2,138.65 and the Nasdaq Composite dropped 8.39 points, or 0.16 percent, to 5,241.30. The S&P energy index was down 0.72 percent while the S&P financials index was down 0.83 percent.Futures traders are pricing in a 51.8 percent chance the Fed will raise rates at its December meeting, up from 47.5 percent on Thursday, according to the CME Group›s FedWatch Tool. While the inflation data pushed the dollar to a more than two-week high against a basket of major currencies, uncertainty ahead of a Bank of Japan policy meeting on Wednesday limited the dollar›s gains against the yen. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.69 percent to 95.941. Spot gold prices slid 0.36 percent to 1,309.01$, a two-week low to a two-week low. ( (Reuters)

In the domestic economy, Iran’s first titanium production plant will be up and running in the next six months, the manager of the Kahnuj titanium pilot project says. The plant with a capacity to produce 2 tonnes of titanium pigments per day is at the phase of equipment installation in Kahnuj in southeastern Kerman province, Morad Ali Manzari-Tavakolli was quoted as saying. The project includes setting up two units with a capacity to produce 130,000 tonnes of titanium dioxide concentrate and 70,000 tonnes of titanium dioxide slag per year, he said. Titanium dioxide is mainly used to produce titanium pigment, the most commonly used white pigment. It is used to add capacity to paper, paints and plastics. Kahnuj is carried out jointly by Iran›s state-owned mines and metal holding company IMIDRO and Armenia’s EcoAtom in a scheme worth 2.04 million euros. The «industrial» implementation of the Kahnuj titanium scheme is projected to cost 161$ million which will come from selling so-called participation papers, Manzari-Tavakoli said. The Kahnuj prospect is estimated to hold definite reserves of 150 million tones or probable deposits of some 400 million tonnes.The operation of the Kahnuj plant will put Iran among an elite club of the few countries which produce titanium – a metal used in a range of high-tech manufacturing from military aircraft to artificial limbs. The country is currently a net importer of the material. The main producers of titanium are China, Japan, Ukraine, Russia, Kazakhstan and the US. Titanium is the strategic metal of the century, named after the powerful Titan gods in Greek mythology. Because of its strength, light weight and corrosion resistance, the metal is highly prized in aircraft manufacturing, with further applications in military, aerospace, marine industries, dental implants and industrial processes. Iran’s other known titanium reserves are based in Anzali Lagoon in the Caspian Sea, which have attracted the attention of Japanese developers, according to Iranian media reports. The Fanjuj mine in Iran’s Sistan-Baluchestan is another base where a cluster of 30 deposits are each able to yield 1 million tonnes of titanium ore per year, according to head of the board of directors of Makran Steel Jamshid Jahanbakhsh Tehrani. Iran needs more than 4.2$ billion of investment over the next five years to bring the Fanuj prospect fully online, he said last December.(Presstv)