Emerging-Market Stocks Rise Most In 2012 On EU Meeting

Emerging-market stocks rose the most in eight months after European leaders agreed to ease repayment conditions for loans to Spanish banks, boosting demand for riskier assets.

The MSCI Emerging Markets Index (MXEF) jumped 3.4 percent to 937.35 by the close in New York, the steepest gain since Oct. 27. Energy companies rallied the most since October asOGX Petroleo e Gas Participacoes SA surged in Sao Paulo after naming a new chief executive officer. Brazil’s Bovespa rose 3.2 percent while Russia’s Micex Index (INDEXCF) added the most in four months. The Hang Seng China Enterprises Index (HSCEI) of Hong Kong-traded Chinese shares rose by 2.6 percent.

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