Emerging-Market Stocks Rebound as Crude Gain Lifts Energy Shares
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Emerging-market stocks ended a three-day decline as a rebound in crude prices boosted energy companies, outweighing data showing economic weakness in Russia and China.
Petroleo Brasileiro SA, the Brazilian oil producer that is the subject of a corruption investigation, led a 1.6 percent gain in the Ibovespa. Sasol Ltd. rallied the most in six weeks in Johannesburg. OAO Tatneft jumped 5.5 percent in Moscow. Chinese stocks fell for a fifth day after the country’s official manufacturing index slid below 50 for the first time since 2012. A separate Russian gauge slipped to a 5 1/2-year low, pushing the ruble down as much as 2.3 percent. The currency reversed losses as Brent jumped following its best week in four years.