Ukraine’s benchmark dollar debt gained for the first time in four days after Franklin Resources Inc., the biggest holder of the notes, said it was encouraged by the government’s policies to deal with an economic crisis.
Overseas creditors such as China and Japan enabled the U.S. to spend its way out of the recession as they gobbled up 80 percent of the nation’s Treasuries. Now, their holdings are dropping toward the lowest level in a decade, while homegrown investors have picked up the slack.
Franklin Resources Inc.’s biggest funds purchased Ukrainian bonds in the fourth quarter, adding to holdings that made the asset manager the country’s largest debtholder before growing violence spurred unprecedented losses.
Minority investors in Maruti Suzuki India Ltd., India’s biggest carmaker by volume, sought the scrapping of parent Suzuki Motor Corp.’s plan to build a fully- owned factory in the state of Gujarat. Shares dropped.
Citigroup Inc., the top adviser in India for share sales, sees no recovery in initial public offers from the worst start since 2009 until investors gain clarity on policies from a new government after elections.