Eike Batista’s net worth is $6.8 billion less than previously estimated because new details on his deal to sell a stake in his EBX Group Co. imply a lower value for his Brazilian commodities empire, according to the Bloomberg Billionaires Index.
Emerging-market stocks fell for the first time in five days, led by Brazilian utilities, as the government provided less compensation for power rate cuts than analysts predicted. Hyundai Motor Co. sank after promising to remunerate U.S. customers for overstating fuel efficiency.
Chinese stocks traded in the U.S. rose Dec. 9 for the first day in four, paring losses for the week, as European efforts to stem the region’s debt crisis boosted energy and materials companies to a premium over Hong Kong shares.
Emerging-market stocks posted the largest weekly loss since November, as Chinese and Indian production data and a $2 billion JPMorgan Chase & Co. trading loss spurred concern global growth will falter.
Emerging-market stocks rose from a six-month low, with South Korea and Taiwan leading gains, on optimism finance ministers and central bank governors will speed up efforts to resolve Europe’s financial crisis.
Emerging-market stocks gained, ending a five-day slide, amid speculation the European Central Bank will act to lower Spain’s borrowing costs, curbing the impact of the continent’s debt crisis on global growth.