Iran’s 300% Stock Rally Fades as Nuclear Deal Eludes Rouhani

The five-year rally in Iranian stocks is coming to an end as optimism fades that President Hassan Rouhani can resolve an international standoff over the Islamic republic’s nuclear program.

The Tehran Stock Exchange Index has lost 20 percent in 2014, set for the first yearly decline since 2008, as petrochemical companies and lenders plunged, bourse data show. Over the previous five years, shares soared 910 percent, or about 300 percent in dollar terms after factoring in the rial’s declines.