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Monday, August 6, 2012

Emerging Stocks Rise to 3-Month as Europe Concerns Ease

Emerging-market stocks rose to the strongest level in almost three months as concern over Europe’s debt crisis eased and as higher-than-estimated U.S. payrolls boosted the outlook for exporters.
The MSCI Emerging Markets Index (MXEF) rose 1.3 percent to 965.38 as of 1:03 p.m. in London, poised for its highest close since May 11. Samsung Electronics Co. (005930), which got 35 percent of its sales from America and Europe last year, advanced 4.4 percent in Seoul. Benchmark indexes gained more than 1 percent in China, Russia and South Korea.

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