Emerging Stocks Rebound as Russian Shares Rally; Dubai Pl
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Emerging-market stocks rebounded from a two-week low as Russian shares rallied after President Vladimir Putin asked lawmakers to rescind approval to use force in Ukraine. Dubai’s benchmark plunged the most in 10 months.
The MSCI Emerging Markets Index added 0.4 percent to 1,046.63. It closed yesterday at the lowest since June 5. OAO Gazprom jumped 4.1 percent to an eight-month high, leading the Micex Index up 2.2 percent. Arabtec Holding Co. slumped 9.8 percent as Dubai’s DFM General Index slumped further into a bear market. Housing Development Finance Corp. led a 1.4 percent gain in Indian equities. The Ibovespa ended a two-day drop in Sao Paulo.