Emerging Stocks Drop From 2-Week High as ECB Holds Rates
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Emerging-market stocks fell from a two-week high, led by technology companies, after the European Central Bank left rates unchanged as it assesses Italy’s threat to the economic recovery. Brazilian equities advanced.
Ayala Land Inc. led declines after the Philippines’ biggest developer said it sold shares at a discount. Samsung Electronics Co., which said it will buy 3 percent of troubled Japanese electronics maker Sharp Corp., dropped the most in five weeks. OGX Petroleo & Gas Participacoes SA drove gains in Brazil’s Bovespa Index as controller Eike Batista signed a financing deal with Grupo BTG Pactual.