Monday, August 18, 2014

Emerging Market Stocks Advance for Sixth Day

Emerging-market stocks rose for a sixth day as a rally by telecommunication 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 the highest level in almost six years as Nomura Holdings Inc. lifted its price target. OAO Gazprom gained as much as 1.2 percent to lead increases in Russia. The ruble strengthened 0.3 percent versus the dollar after the central bank widened its trading range against a basket of currencies. Indian stocks surged to a record high.
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