Emerging Market Stocks Rise as Energy Producers, Banks Lead Gain
Emerging-market stocks headed for the biggest four-day gain in 15 months, led by energy and financial companies, as investors bet oil prices are stabilizing and China will step up measures to support economic growth. Russia’s ruble rose for a second day. VTB Bank jumped to the highest price since July 2012 in Moscow after saying it’s financing a $283 million copper-mill project in Armenia. Shares in Dubai and Nigeria rose for a third day. Cnooc Ltd. and PetroChina Co. climbed more than 4 percent, while Bank of China Ltd. led mainland shares traded in Hong Kong to the largest gain in two weeks. The ruble gained 6.9 percent versus the dollar.
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