Emerging-Market Stocks Advance as Ibovespa Surges
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Emerging-market stocks rose as the Ibovespa surged on speculation Brazilian President Dilma Rousseff will be voted out of office in a runoff after overseeing the slowest economic growth since 1992.
State-run oil producer Petroleo Brasileiro SA led gains in Sao Paulo, rallying 5.8 percent. The real strengthened the most among emerging-market currencies. The Micex Index ended a two-day drop in Moscow as OAO Sberbank climbed and Mark Mobius, chairman of Templeton Emerging Markets Group, said Russian stocks offer “tremendous” value.