Russian stocks are trading at the most expensive relative valuations since September 2008 after surging oil prices spurred mutual funds to pour record amounts of money into the world’s largest energy exporter.
Emerging-market stocks advanced, pushing the benchmark index to its biggest weekly gain in three, as euro-area leaders sought to persuade investors that measures they’re taking to staunch the region’s sovereign debt crisis will work.
Emerging-market stocks rose for a second day, led by financial companies, as India’s benchmark equity gauge jumped to a three-year high after the nation’s central bank took steps to boost cash supply for lenders.
Emerging-market stocks rose, with the benchmark index poised to close at a six-month high, as European finance ministers moved toward a second rescue of Greece and after China cut banks’ reserve requirements.
Qatar may have to lift a moratorium on developing the world’s largest natural-gas reservoir, known as the North Field, to generate enough electricity to stage the 2022 World Cup soccer championship, HSBC Holdings Plc said.