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Emerging Stocks Advance for First Time in 2014 on Economy

Emerging Stocks Advance for First Time in 2014 on Economy (Bloomberg)

Emerging-market stocks rose for the first time this year after the International Monetary Fund announced today that it will boost its forecast for world economic growth. The MSCI Emerging Markets Index added 0.1 percent to 972.38 at 12:32 p.m. in New York, snapping a five-day decline. Egypt’s EGX 30 Index rallied to a three-year high as EFG-Hermes Holding SAE, the nation’s largest investment bank, surged. However, the Borsa Istanbul 100 Index fell 1.9 percent after JPMorgan Chase & Co. cut its recommendation for Turkish shares. South Africa’s rand led losses among developing-nation currencies.

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Emerging-market stocks rose for the first time this year after the International Monetary Fund announced today that it will boost its forecast for world economic growth.

archive

Emerging Stocks Advance for First Time in 2014 on Economy

Emerging-market stocks rose for the first time this year after the International Monetary Fund announced today that it will boost its forecast for world economic growth.

Emerging Stocks Advance for First Time in 2014 on Economy (Bloomberg)

Emerging-market stocks rose for the first time this year after the International Monetary Fund announced today that it will boost its forecast for world economic growth. The MSCI Emerging Markets Index added 0.1 percent to 972.38 at 12:32 p.m. in New York, snapping a five-day decline. Egypt??s EGX 30 Index rallied to a three-year high as EFG-Hermes Holding SAE, the nation??s largest investment bank, surged. However, the Borsa Istanbul 100 Index fell 1.9 percent after JPMorgan Chase & Co. cut its recommendation for Turkish shares. South Africa??s rand led losses among developing-nation currencies.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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