Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Emerging-Market Stocks Rise on ECB Hopes, Wimm-Bill-Dann Jumps

Dec. 2 (Bloomberg) -- Emerging-market stocks gained for a second day as speculation the European Central Bank will act to prevent the region’s debt crisis from spreading helped restore confidence in the global recovery.

The MSCI Emerging Markets Index advanced 1.2 percent to 1,110.63 as of 11:33 a.m. in London, poised for its best two-day rally since June. The Micex Index climbed 1.2 percent after PepsiCo Inc., the world’s largest snack-food maker, agreed to buy a controlling stake in Russia’s Wimm-Bill-Dann Dairy & Juice Co. Poland’s WIG20 Index rose 0.9 percent and China’s after Shanghai Composite Index climbed 0.7 percent.

“Market sentiment has turned to bullish from bearish because of the positive economic data,” said Francis Lun, general manager at Fulbright Securities Ltd. in Hong Kong. “People aren’t worrying about recession now. Market confidence is likely to continue for the rest of the year.”

Investors are anticipating that ECB President Jean-Claude Trichet will delay the withdrawal of unlimited cash to banks and step up bond purchases after signaling this week measures may be needed to stem the region’s debt crisis. The bank’s Governing Council will meet today. Europe’s manufacturing industries expanded at the fastest pace in four months in November, led by Germany, the region’s largest economy.

Mol Nyrt., Hungary’s largest refiner, jumped 2.5 percent, helping to push the BUX Index up 1 percent. KGHM Polska Miedz SA, Poland’s only copper miner, rose 2.1 after oil traded near a three-week high and metal prices rallied.

‘Shore Up’

“The markets have basically rallied across the board, everything moving in tandem, whether good or bad,” Nigel Rendell, senior emerging-market strategist at RBC Capital, said by phone from London. “People are hoping that the ECB is going to shore up the peripheral countries.”

Wimm-Bill-Dann soared by as much as 40 percent in Moscow trading after PepsiCo said it will acquire 66 percent of Russia’s juice and dairy group for $3.8 billion. Cnooc Ltd., China’s biggest offshore oil producer, rose the most since Nov. 18 in Hong Kong trading after crude traded for as much as $87.10 a barrel. PetroChina Co. added 2.3 percent, poised for the highest close since Nov. 15.

Copper in rose in London to the highest level in almost three weeks as inventories shrank the most since September. Tin, lead, nickel and zinc all rose on the London Metal Exchange.

To contact the reporter on this story: Berni Moestafa in Jakarta at Piotr Skolimowski in Warsaw at

To contact the editors responsible for this story: Darren Boey at Gavin Serkin at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.