Commodities climbed the most in two months as crude oil and natural gas surged amid frigid weather along the U.S. East Coast. Emerging-market stocks rose for the first time in five days while the Standard & Poor’s 500 Index gained for a second session as companies posted earnings.
Emerging-market stocks fell, trimming the first weekly gain this month, as India’s most- valuable company missed sales estimates and China resumed initial public offerings. Turkey’s lira slumped to a record.
NQ Mobile Inc. surged to a three- month high, driving gains in Chinese companies traded in New York, after Altimeter Capital Management LLC reported an increase in holdings. Cnooc Ltd. sank the most since June 2012.
Emerging-market stocks led global equities higher as faster-than-estimated Chinese export growth bolstered optimism in the global economy. The Standard & Poor’s 500 Index and India’s benchmark gauge rose to close at record highs, while natural gas jumped on colder U.S. weather.
Emerging-market stocks rose the most in three weeks, led by industrial and technology companies, as better-than-estimated data on Chinese exports bolstered confidence on global growth. India’s shares jumped to a record.
Petroleo Brasileiro SA, the biggest oil producer in deep waters, is raising less than forecast through asset sales as it seeks cash for a $237 billion investment plan aimed at refocusing on exploration at home.
Hedge fund Oasis Management LLC sued Morgan Stanley for C$9.5 million ($9.3 million) over options in Sino-Forest Corp. bought before the Toronto-listed timber company’s stock plunged 71 percent in two days in June.