Emerging Stocks Advance Amid Europe Stimulus Speculation
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Emerging-market stocks advanced amid speculation the European Central Bank is preparing stimulus measures and as the Standard & Poor’s 500 Index rose above 2,000 for the first time.
Oil producer Petroleo Brasileiro SA surged to the highest close since October 2012 in Sao Paulo while chemical company Alpek SAB climbed to a seven-month high in Mexico City. The MSCI Emerging Markets Index added 0.2 percent to 1,085.29 in New York, the highest since August 2011. Samsung Electronics Co. led a retreat in technology companies on concern quarterly earnings will disappoint. Aluminum maker Hindalco Industries Ltd. plunged in Mumbai.