UBS AG, trying to reprise its success in limiting fines in a probe of interest-rate rigging, is seeking immunity in the U.S. and European Union as part of the global investigation of currency markets, two people with knowledge of the case said.
Standard & Poor’s, the world’s largest provider of securities indexes, started nine indicators for South African equities that it said will place more emphasis on liquidity than the all-share benchmark compiled by FTSE Group and the Johannesburg bourse.
The owner of stock measures including the Dow Jones Industrial Average wants to strengthen ties with Asian and Latin American exchanges, with a goal of creating new indexes to be benchmarks for financial products.
Dubai’s benchmark index rose to the highest level in almost four months after FTSE Group categorized the United Arab Emirates as an emerging market, boosting confidence that foreign investment will increase.
Vanguard Group Inc.’s emerging markets fund managers will need to sell shares of South Korean companies after the largest U.S. mutual-fund company replaced MSCI Inc. with FTSE Group as the benchmark provider for six equity funds.
European stocks posted a second weekly loss, their first back-to-back decline in two months, as investor demand for equities waned before Christmas holidays and a Federal Reserve meeting next week on stimulus measures.