Global Stocks Climb as Emerging Markets Rally, Yen Falls

Global stocks rose the most since April while the yen fell on optimism that tension between Russia and Ukraine will ease and U.S. airstrikes will push back militants in Iraq. Emerging markets rallied and oil gained.

The MSCI All-Country World Index advanced 0.8 percent at 4 p.m. in New York, the biggest gain on a closing basis since April 16. The MSCI Emerging Markets Index jumped 1.6 percent, the most since November. The Standard & Poor’s 500 Index added 0.3 percent, after rebounding 1.2 percent on Aug. 8, and the Stoxx Europe 600 Index rallied 1.4 percent. Ten-year Treasury rates were little changed at 2.42 percent. The yen dropped from a three-week high and euro fell against all but one of its 16 major peers. West Texas Intermediate oil rose 0.4 percent.