Emerging Stocks Post Longest Rally Since April on Fed Outlook
- Energy shares advance most in MSCI Emerging Markets Index
- Russian ruble ends two-day decline as Brent crude rallies
Emerging-market stocks rose for a fourth day, the longest winning streak in more than five months, as commodity prices jumped and traders withdrew bearish bets amid mounting speculation that the Federal Reserve won’t raise U.S. interest rates until 2016.
The MSCI Emerging Markets Index rose 2.1 percent to 821.26, pushing the four-day advance to 5.8 percent. The ruble led gains in currencies, strengthening 1.8 percent against the dollar as Brent crude climbed above $49 a barrel. The dollar-denominated RTS Index surged 5.3 percent, the best performance among 93 primary equity indexes tracked by Bloomberg, as data showed a surprise deceleration in Russian inflation. Brazilian stocks rallied to a two-week high and the real gained for a second day.