Emerging-market stocks rose, snapping a three-day drop, as ICICI Bank Ltd. jumped on speculation India’s opposition party will take over government. The rand sank amid the longest South African bond slide in 15 years.
U.S. and European stocks fell for a fifth day, gold slid and Treasury yields reached the highest level since September as improving economic data fueled bets the Federal Reserve will reduce stimulus. The euro rose as the central bank gave no sign it will start negative deposit rates.
Jaguar Land Rover, the luxury-vehicle division of India’s Tata Motors Ltd., signed an agreement to build a 240 million-pound ($392 million) factory in Brazil with capacity to produce as many as 24,000 cars a year.
Spanish property broker Donpiso pledges on its website it can sell homes within 60 days. That’s possible, said Juan Luis Nolasco, who runs one of the firm’s Madrid branches, only if owners are realistic about prices and the difficulties buyers face getting mortgages after six years of falling values.
ICICI Bank Ltd. led banks higher in Mumbai stock trading on speculation India’s main opposition party will take over government, enabling it to enact policies to bolster economic growth and curb bad loans.