Emerging-market stocks rose, pushing the benchmark index to an eight-month high, as improved German investor confidence boosted markets from Poland to (more)
Emerging-market stocks rose, pushing the benchmark index to an eight-month high, as improved German investor confidence boosted markets from Poland to Turkey that benefit from growth in Europe's biggest economy.
CEZ AS (CEZ), the biggest Czech utility, snapped a four-day slump after Bank of America Corp. recommended buying the stock. Seoul- based Daewoo Shipbuilding & Marine Engineering Co. Ltd. led gains in emerging-market industrial stocks as HMC Investment Securities said shipbuilders have an "attractive" valuation. OAO GMK Norilsk Nickel had its biggest drop in four weeks on speculation the Russian mining company's dividend will be less than earlier anticipated.
The MSCI Emerging Markets Index added 0.5 percent to 1,034.12 as of 12:41 p.m. in New York, heading for the highest close since April 6. German investor confidence jumped more than economists anticipated in December, according to the ZEW Center for European Economic Research in Mannheim, overshadowing data out of China showing new yuan loans trailed forecasts last month. U.S. Lawmakers return to Washington today as President Barack Obama and House of Representatives Speaker John Boehner attempt to make a deal on fiscal policy.
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