Vodafone Group Plc completed the biggest sale of the past decade today, leaving the wireless carrier about half the size it was, as Chief Executive Officer Vittorio Colao embarks on a new expansion strategy.
Traders are betting the Canadian dollar fell too far, too fast in its worst start to a year in more than four decades, as rising commodities prices and a forecast budget surplus damp speculation for interest-rate cuts.
Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, posted a smaller-than-expected 849 million-euro ($1.15 billion) fourth-quarter loss as Latin America gains offset a charge for cutting its China investment.
Malaysia’s ringgit dropped to the weakest level since May 2010 as concern that China’s economic growth is slowing and prospects of further cuts in U.S. stimulus damped demand for emerging-market assets.
Spanish banks including Banco Bilbao Vizcaya Argentaria SA, the country’s second-biggest lender, and insurer Mapfre SA led declines on Madrid’s IBEX 35 Index on concern that a slide in currencies in emerging markets from Argentina to Turkey may hurt earnings.
Malaysia’s ringgit rose for a sixth day, the longest run of gains since April, on speculation the Federal Reserve won’t accelerate the reduction of its unprecedented stimulus after employment growth slowed.