Emerging-market stocks rose to a two-month high as a rally in Brazilian state-run companies drove the Ibovespa to the biggest gain among world’s equity indexes. India’s S&P BSE Sensex jumped to a record as banks climbed.
When she was a village branch manager in eastern India, she was quick to grab a screwdriver to fix power outages. Now, as the most-powerful woman in Indian finance, Arundhati Bhattacharya must tackle the highest bad-loan ratio among India’s 10 largest banks.
Citigroup Inc., the top adviser in India for share sales, sees no recovery in initial public offers from the worst start since 2009 until investors gain clarity on policies from a new government after elections.
India will start voting next month to determine if Prime Minister Manmohan Singh’s ruling party can fight off a resurgent opposition and extend its decade-long rule of the world’s most-populous democracy.