Emerging Stocks Climb on Ukraine Cease-Fire as Real Strengthens
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Emerging-market stocks advanced for the first time in five days after Russia and Ukraine reached a cease-fire agreement following all-night talks. Russian equities rose and Brazil’s real rebounded from a decade low.
London-listed depositary shares of retailer PJSC Magnit jumped 5.6 percent as Russia’s dollar-denominated RTS Index advanced to a two-month high. The ruble ended little changed after strengthening as much as 1.2 percent. The Ibovespa snapped a two-day decline as a report showed that Brazil’s economy contracted less than analysts had forecast. China Unicom (Hong Kong) Ltd. and China Telecom Corp. climbed more than 2.9 percent amid speculation the two companies may merge.