Emerging Stocks Advance as Ibovespa Leads World Gains
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Emerging-market stocks rose, extending a weekly rally, as speculation Brazilian President Dilma Rousseff is losing support in a re-election bid drove the Ibovespa to the biggest advance among global equity gauges.
The MSCI Emerging Markets Index added 0.7 percent to 1,003.39, bringing its advance for the week to 1 percent. Brazil’s Ibovespa jumped to a five-month high, led by Petroleo Brasileiro SA. The Borsa Istanbul 100 Index rallied as the central bank offered more funding to lenders two days after Governor Erdem Basci said borrowing costs may drop. Russia’s ruble slid amid concern the crisis in Ukraine will escalate.