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Tehran Stock Exchange index rises 64% in 2010

Report by Mehr News Agency

The Tehran Stock Exchange index rose 63.9 percent since the start of 2010. ISNA news agency cited a Bloomberg report as stating that the Tehran Stock Exchange index rose 0.49 percent last week and about 64 percent this year.

The TSE rallied record high increases this year despite U.S. and UN sanctions that have hammered the economy.

Greater liquidity and investor enthusiasm over the government's push to privatize state-run firms by the end of 2011 have helped drive the market higher, according to analysts.

Iranian officials are looking to privatize more than 500 state firms through the end of next year in an effort to generate more than $12 billion.

Tehran's Top Investor
Tehran's stock exchange was the world's fifth-best performer this year. Rouzbeh Pirouz of Turquoise Capital, the biggest investor of foreign money in Tehran, Iran, talks to CNBC's Erin Burnett.

... Payvand News - 12/12/10 ... --

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