Emerging-Market Stocks Advance for Sixth Day; Ruble Strengthens - Bloomberg

Emerging-Market Stocks Advance for Sixth Day; Ruble Strengthens - Bloomberg:



"Emerging-market stocks rose for a sixth day as a rally by telecommunications and energy shares overshadowed Chinese data showing the nation’s housing slump deepened. Russia’s ruble appreciated the most among its peers.



China Mobile Ltd. advanced to a six-year high as Nomura Holdings Inc. lifted its price target. OAO Lukoil and OAO Gazprom led gains in Russia. The ruble strengthened 0.4 percent versus the dollar after the central bank widened its trading range against a basket of currencies. Indian stocks surged to a record. The Ibovespa rose for a third day as a poll showed Brazil’s presidential race was too close to call.



The MSCI Emerging Markets Index rose 0.2 percent to 1,077.07. Ukrainian Foreign Minister Pavlo Klimkin and his Russian counterpart Sergei Lavrov met in Berlin for talks seeking to ease tension. German Foreign Minister Frank-Walter Steinmeier said after the discussion that some progress was made."



'via Blog this'