Iran's stock market is loving the latest nuclear deal

Iran's President Hassan RouhaniAdrees Latif /ReutersIran’s President Hassan Rouhani gives a news conference on the sidelines of the 69th United Nations General Assembly at United Nations Headquarters in New York September 26, 2014.

TEHRAN, Iran (AP) — 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 per cent 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 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.

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