Emerging Stocks Gain as Resource Rebound Boosts Bovespa

Emerging-market stocks posted their biggest gain in two months, led by resource shares, as oil and commodity prices gained on prospects the U.S. budget crisis will be resolved, bolstering the world’s largest economy.

The iShares MSCI Emerging Markets Index exchange-traded fund, the ETF tracking developing-nation shares, rose 1.7 percent, the most since Sept. 13. Russia’s Micex and Brazil’s Bovespa advanced as oil surged. Turkish Airlines jumped the most in three years as earnings beat estimates and talks on cooperating with Deutsche Lufthansa AG progressed. Utility Centrais Eletricas Brasileiras SA fell the most in 15 years after Barclays Plc cut the stock to sell. Shandong Weigao Group Medical Polymer Co. led declines on the emerging markets gauge after third-quarter earnings missed analysts’ estimates.