Oil rose, capping the biggest weekly gain this year, as fighting in Iraq triggered concern of a return to civil war. U.S. stocks advanced as Intel Corp. rallied, while Treasuries were little changed amid speculation central banks may raise rates sooner than forecast.
Australia & New Zealand Banking Group Ltd., the worst performer among Australia’s four largest bank stocks this year, posted second-half profit that missed analyst forecasts after volatile markets eroded trading profit.
Macquarie Group Ltd., Australia’s largest investment bank, said second-half profit more than doubled and forecast higher earnings next fiscal year as the global economic recovery drives a surge in trading.
Asian stocks sank, with the regional benchmark index headed for the biggest drop since September 2011, as Japanese shares plummeted after preliminary China manufacturing data unexpectedly signaled a contraction and the yen strengthened.