ran nvestment TURQUOISE Monthly PARTNERS August 2013 - Volume 7, No 83 Latoon Waterfall, Gilan, Iran Market Overview 2 In July, the Tehran Stock Exchange (TSE) continued its upward trend following the release of the [rst quarter earnings reports. The 2013 year to date performance of the TSE has been its best performance since 2010. The average P/E of the market increased to 7 at the end of July. Following the recent share price gains, traders are now waiting to see if the current investment environment will continue its bullish trend in the coming months. Country Overview 6 Recent developments of the new government will be discussed in this section. Economy 8 Iran’s foreign trade outlook in the [rst four months of 1392, its steel output in the month of June and an overview of the country’s in\ation rate are covered in this section. Iran Investment Monthly is produced by Turquoise Partners Turquoise Partners, No. 17 East Gord Alley, Bidar St., Fayyazi (Fereshteh) Ave. and distributed electronically by exclusive subscription. Tel : +98 21 220 35 830 Fax : +98 21 220 49 260 Chief Editor: Ramin Rabii Email :
[email protected] Authors: Shervin Shahriari To nd out more about Turquoise Partners, visit our website at: Sanam Mahoozi www.turquoisepartners.com. Elham Fotovat © 2013 All rights reserved Radman Rabii Market Overview Volume 7, No. 83 Following the release of the [rst quarter earnings 38% and experienced a price increase of nearly reports in the month of July, the Tehran Stock 19.3%. Zob Ahan (iron smelting) Isfahan Co, Exchange (TSE) continued its upward trek, with Iran’s third largest steel producer, published its the market’s main index rallying by 9.4%.