Emerging Stocks Rise on Economy as Sensex Jumps to Record
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Emerging-market stocks rose to a six-week high as better-than-estimated U.S. jobless claims data bolstered confidence in the global economy. India’s S&P BSE Sensex climbed to a record amid a shrinking current-account gap.
The MSCI Emerging Markets Index advanced 1.2 percent to 970.27. India’s benchmark equity index rallied 1.1 percent as ICICI Bank Ltd. surged, while the rupee climbed to a three-month high. Brazil’s Ibovespa increased as MRV Engenharia e Participacoes SA led homebuilders higher. The Micex Index retreated as the U.S. threatened more sanctions if President Vladimir Putin doesn’t back off from the Ukrainian conflict while the Crimean parliament voted to become part of Russia.