Pursuits
Emerging Stocks Rise to Seven-Month High on China Economic Data
This article is for subscribers only.
Emerging-market stocks advanced for a fourth day, sending the benchmark index to a seven-month high, after better-than-estimated Chinese industrial production and retail sales added to signs the global economy is strengthening.
Cnooc Ltd., a state-owned Chinese offshore energy explorer, climbed to the highest level since May after Canada approved its $15.1 billion takeover of Nexen Inc. Cia. de Bebidas das Americas led gains on the emerging markets gauge as the Brazilian unit of Anheuser-Busch InBev NV considers a proposal to convert all shares into voting shares. OAO GMK Norilsk Nickel, the world’s largest producer of the metal, advanced to a five-month peak in Moscow as metals rose.