Emerging stocks climb on Ibovespa rebound, Micex surge
October 29, 2014 7:00 am
Emerging-market stocks advanced to its biggest gain since August on Ibovespa recovering from election rout and the Micex surging on bets of eased sanctions after Ukraine parliamentary vote acceptance.
The MSCI Emerging Markets Index added 1.5% to 992.54. The Ibovespa Index added 3.6% to 52,330.03 at the end of trading in Sao Paulo. The nation’s currency rebounded from yesterday’s nine-year low and strengthened by 2.4% to match the dollar at 2.4610 real per dollar. The Micex Index rallied by 1.5% in Moscow after Russia announced that it will realize Ukrainian electoral results. The Shanghai Composite Index surged by 2.1%, ending its longest losing streak for the year on announcement of President Xi Jinping to expand free-trade zones.
Brazilian stocks rose following the sell off caused by the Rousseff victory that spurred valuations to cheapen to a six-month low while the real rose after yesterday’s nine-year low.
Yesterday, Brazilian stocks dropped with the Ibovespa index leading declines among global benchmark indices as President Dilma Rousseff reclaims her seat, curbing hopes of policy change. The Ibovespa previously advanced by 38% from the year low as speculations of a reformed government fueled beliefs of reduced intervention in state-run companies. The incumbent President Dilma Rousseff’s administration oversaw the slowest growth among any other administration since 1992. In May, Rousseff seemed at a disadvantage for the elections however at the beginning of October, she was able to regain back support and ultimately reclaim her seat, defeating Senator Aecio Neves.
The MSCI World Index added 1.4% for the period.
The material has been provided by InstaForex Company – www.instaforex.com
Emerging-market stocks advanced to its biggest gain since August on Ibovespa recovering from election rout and the Micex surging on bets of eased sanctions after Ukraine parliamentary vote acceptance.
The MSCI Emerging Markets Index added 1.5% to 992.54. The Ibovespa Index added 3.6% to 52,330.03 at the end of trading in Sao Paulo. The nation’s currency rebounded from yesterday’s nine-year low and strengthened by 2.4% to match the dollar at 2.4610 real per dollar. The Micex Index rallied by 1.5% in Moscow after Russia announced that it will realize Ukrainian electoral results. The Shanghai Composite Index surged by 2.1%, ending its longest losing streak for the year on announcement of President Xi Jinping to expand free-trade zones.
Brazilian stocks rose following the sell off caused by the Rousseff victory that spurred valuations to cheapen to a six-month low while the real rose after yesterday’s nine-year low.
Yesterday, Brazilian stocks dropped with the Ibovespa index leading declines among global benchmark indices as President Dilma Rousseff reclaims her seat, curbing hopes of policy change. The Ibovespa previously advanced by 38% from the year low as speculations of a reformed government fueled beliefs of reduced intervention in state-run companies. The incumbent President Dilma Rousseff’s administration oversaw the slowest growth among any other administration since 1992. In May, Rousseff seemed at a disadvantage for the elections however at the beginning of October, she was able to regain back support and ultimately reclaim her seat, defeating Senator Aecio Neves.
The MSCI World Index added 1.4% for the period.
The material has been provided by InstaForex Company – www.instaforex.com
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