empty
 
 

2014.10.2903:00:36UTC+00Emerging stocks climb on Ibovespa rebound, Micex surge

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.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback