The Standard & Poor’s 500 Index rebounded from the worst weekly loss in two years, weathering a selloff in the final hour, after retail sales rose the most since 2012 and Citigroup Inc.’s earnings unexpectedly rose. Treasuries fell with the ruble and commodities advanced on concern the situation in Ukraine is worsening.
Symrise AG shares dropped as much as 5.7 percent in Frankfurt trading as the German maker of flavors and fragrances considers a capital increase to finance the planned 1.3 billion-euro ($1.8 billion) purchase of French competitor Diana Group.
Symrise AG’s planned 1.3 billion- euro ($1.8 billion) purchase of French flavors and pet-food additive maker Diana Group helps the German company close the gap on larger rivals Givaudan SA and International Flavors & Fragrances Inc.
Coffee futures rose to a 25-month high as concerns mounted that the global market will swing to a deficit after a drought in the first quarter ravaged crops in Brazil, the world’s biggest producer and exporter.
China’s slowing economy and tougher government anti-pollution efforts are taking a toll on its steel mills, rattling the world’s biggest producer of the alloy and flashing worries of a potential downturn in the global iron-ore trade.
The Ibovespa fell for a third day as a drop in commodities sank exporters including iron-ore producer Vale SA, overshadowing gains in consumer stocks after policy makers signaled they may stop raising interest rates.