Standard Life Investments said it isn’t tempted to buy Greek, Portuguese and Irish securities as they get cheaper and yields surge, given it remains skeptical about the fiscal outlook for Europe’s most indebted nations .
U.S. stocks rose a fifth day, capping the longest rally for the Standard & Poor’s 500 Index since October, on signs earnings are improving. The ruble slipped after a deadly clash in Ukraine, as gold and wheat fell.
Gold capped the longest rally since August 2012 as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market, signaling monetary policy will boost demand for alternative assets.
U.K. manufacturers, which have provided investors with the highest returns in London’s FTSE All-Share Index over the past 12 months, are set to extend gains in 2011 driven by rising demand from Asia and a weaker pound, analysts and strategists say.