Emerging-market stocks rose, following the longest weekly rally in a month, as state- controlled oil producer Petroleo Brasileiro SA led Brazil’s Ibovespa to the biggest gain among world equity indexes.
Hedge funds raised bullish gold wagers by the most since July and sold copper holdings as emerging-market turmoil boosted concern the global economy will slow and increased demand for precious metals as a haven.
Hedge funds grew less bullish on gold for a fourth straight week, the longest stretch since November 2012, as mounting concern that the Federal Reserve will curb monetary stimulus sent prices to a four-month low.
U.S. stocks trimmed losses following a report that Europe’s bailout fund will pay the next installment of aid to Greece, easing concern that the nation won’t qualify for rescue funds after electing political leaders opposed to austerity measures.
U.S. stocks advanced, rebounding from earlier losses in the Standard & Poor’s 500 Index, as a rally in retail and transportation companies overshadowed concern about discussions on raising the debt ceiling.
Google Inc.’s decision to halt its stock for 2 1/2 hours after the premature release of third- quarter results was praised by fund managers who own the company and assailed by a critic of market structure.