Wall Street banks are expanding holdings of speculative-grade bonds as prices fall from record highs with investors retreating from exchange-traded funds that buy the debt.
Indonesia’s new Finance Minister Chatib Basri said cutting fuel subsidies and building more infrastructure will be his two main priorities.
Brent crude advanced for a third day as European car sales gained amid signs that U.S. economic growth will accelerate, boosting speculation that oil demand will increase.
The Australian and New Zealand dollars declined to the lowest this year amid concern slowing inflation globally will weigh on demand for commodities.
Copper declined, poised for the first weekly drop in four, after data showed U.S. jobless claims rose and housing starts slumped, raising concern that demand from the second-biggest user is slowing.
Sinopec Engineering Group Co., a unit of China’s biggest refiner, raised $1.8 billion in Hong Kong’s largest initial public offering this year.
Tata Power Co., the utility business of India’s largest business group, is considering an initial public offering of its clean-energy unit next financial year.
West Texas Intermediate crude rose to a one-month high after supplies fell at Cushing, Oklahoma, the delivery point for the contract. Brent oil’s premium to WTI shrank below $8 for the first time since January 2011.
Egypt’s benchmark stock index surged the most in two months on investor bets a Cabinet change will boost the nation’s prospects of finalizing a loan agreement with the International Monetary Fund.
Indian stock-index futures gained, signaling benchmark indexes may extend a rally to the highest in more than three months.
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