Iran stocks soar after nuclear framework deal
Tehran market rallies to highest level in 18 months amid sanctions relief speculation
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The Tehran Stock Exchange has rallied after world powers clinched a nuclear framework agreement with Tehran, reflecting hopes that some crippling international sanctions could soon be lifted.
The official IRNA news agency says the Tehran Stock Exchange index rose 6.9 percent over two days. The agency says the index improved by 4,535 points to 70,261 on Sunday — the second working day of Iran’s new year. It was the highest level in at least 18 months.
The Iranian economy has been crippled by a tandem of low-oil prices and international sanctions, leading to high levels of inflation and stagnant economic growth.
The framework deal announced Thursday envisions a final agreement that would pare back Iran’s nuclear program for at least a decade in return for sanctions relief. Iran and six world powers, including the United States, hope to reach a final agreement by June 30.
The Times of Israel Community.