Tehran Stock Exchange index hits record high

The Tehran Stock Exchange has hit a record high, shooting up nearly 4 percent in two days. The benchmark index rose to more than 17900 on Monday, pushing the exchange's total value to more than $80 billion, up from $70 billion in mid-July.

The months-long rise is being driven by trading by state-run firms, increased liquidity and the government's push to privatize a number of public sector firms by next year, according to analysts. Iranian officials are looking to privatize more than 500 state firms to generate some $12 billion. (AP)